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10-08-2008, 12:29 PM #1
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Fed Considers Plan to Buy Companies’ Unsecured Debt
Fed Considers Plan to Buy Companies’ Unsecured Debt
By EDMUND L. ANDREWS and MICHAEL M. GRYNBAUM
Published: October 6, 2008
WASHINGTON — The Federal Reserve announced a radical new plan on Tuesday to jump-start the engine of the financial system.
The Fed said in a statement that it would begin to buy large amounts of short-term debt in an effort to stimulate the credit markets, which have all but dried up.
Under the program, the Fed said that it would buy the unsecured short-term debt that companies rely on to finance their day-to-day activities. “This facility should encourage investors to once again engage in term lending in the commercial paper market,â€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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