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.

By what |