Fed Seriously Changes the Rules
The fact that the fed has opened its discount window to non-banking institutions should have people out protesting in the streets. This is serious.
"Opening up lending to firms other than commercial banks represents a shift in the Fed's 94-year history. The so-called primary dealers include firms that are units of commercial banks and several that aren't, including Goldman Sachs Group Inc., Morgan Stanley and Merrill Lynch & Co. "
These are your tax dollars and this creates enormous new risks for the government.