Federal Reserve shows how well the bailout would have worked
The news talking heads are up in arms about the market losses today. No question the drop coincided directly with the bailout getting voted down.
The connection no one seems to be making is that the Fed injected $630 billion into the markets today and it did nothing.
Granted, the Fed action and purchasing assets under the Treasury plan are different. But, if $630 billion from the Fed with more almost certain to come didn't budge the credit markets, what makes our political leaders think $700 billion is going to do it?