Indeed, the Fed has become the lender (aka pawnshop) of last resort, as I suggested last November: http://groups.google.com/group/misc.invest.stocks/browse_frm/thread/a74449b0a8431eaf/1fedddf9c555e336?lnk=st&q=#1fedddf9c555e336 Cute new buzzword of today is Term Securities Lending Facility (TSLF): http://biz.yahoo.com/ap/080311/fed_credit_crisis.html Loan period is 28 days, and the pawnshop has $200 billion in cash to lend. They will need a trillion dollars before it is all over. Crank up the printing presses. LMAO.
