Trillion-Plus Fed Investment Raises Dow About 90 Points
The Street sorta liked the Federal Reserve's idea to invest over $1,000,000,000,000 of your money into your economy, which sounds like a wash but still makes us feel as if we've been gypped. $300 billion will go to buy T-bonds -- which news quickly drove demand up and yields down. The Fed will also buy at least $750 billion and up to $1.25 trillion in Fannie Mae and Freddie Mac securities over time, which also makes us nervous. Clearly we are too cowardly for this kind of high-stakes operation, and should be grateful that supermen like Ben Bernanke are holding the cards instead of us. What could go wrong?
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