The destruction of wealth…
Fed to Purchase U.S. Commercial Paper to Ease Crunch
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAyx4qPsKSZk&refer=home
The Federal Reserve will create a special fund to purchase U.S. commercial paper after the credit crunch threatened to cut off a key source of funding for corporations.
What does this mean? The Banks can unload crap on to the Treasury balance sheet.
