(no subject)
I heard an interesting comment on NPR this morning and would like more information from someone knowledgeable. One of the commentators said, "We're in a credit crisis, and every dollar borrowed by the Federal Government to pay 'economic stimulus' is a dollar that's not available to be borrowed by anyone else"
I heard a counterpoint about the fed having access to monies not otherwise lent, but still, the fed gets the best rates of the credit market. If they borrow it, no one else can. So are we really just taking money out of the credit markets just to put it back in via large banks?
unrelated: foreclosures on jumbo mortgages make me laugh. I told you, that house was never really worth $500k.
I heard a counterpoint about the fed having access to monies not otherwise lent, but still, the fed gets the best rates of the credit market. If they borrow it, no one else can. So are we really just taking money out of the credit markets just to put it back in via large banks?
unrelated: foreclosures on jumbo mortgages make me laugh. I told you, that house was never really worth $500k.