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What's another few hundred billion?

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October 07, 2008 – Comments (3)

Remember, it's for your own good.

WASHINGTON (AP) -- The Federal Reserve announced Tuesday a radical plan to buy massive amounts of short-term debts in a dramatic effort to break through a credit clog that is imperiling the economy.

The Federal Reserve will buy "commercial paper," a short-term financing mechanism that many companies rely on to finance their day-to-day operations, such as purchasing supplies or making payrolls.

3 Comments – Post Your Own

#1) On October 07, 2008 at 9:56 AM, devoish (98.65) wrote:

The Federal Reserve will buy "commercial paper," a short-term financing mechanism that many companies rely on to finance their day-to-day operations, such as purchasing supplies or making payrolls.

I ran a business once upon a time. In order to finance "payrolls" and "purchasing" I used a noticably neglected business concept called "sales", which reduced my costs by 7-12%.

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#2) On October 07, 2008 at 10:47 AM, TMFBent (99.82) wrote:

Obviously, you don't know how business works nowadays! New economy, man!

;)

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#3) On October 07, 2008 at 10:57 AM, TMFLomax (49.99) wrote:

Yeah, sales, ha! How quaint. ;)

So this isn't even part of the other $700 billion+? Good grief. 

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