Fed Destined To Become World's Largest Auto Dealership

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Fed Destined To Become World's Largest Auto Dealership

Not content with merely throwing money at the automakers, the Fed has new plans to become the world's largest auto dealership. Details of the plan were buried in this announcement: Fed Opens TALF Loans to All Borrowers, Extends Term.

 

And walk away they will, as soon as all collateral the Fed is willing to accept has been pledged. And that is how the Fed will become the world's largest auto dealership.

 

Congressional investigations studying the Fed's balance sheet a year or so down the road will come to the conclusion "No one could possibly have seen this coming".