Fed to Accept Lower Quality Assets As Collateral

"Fed Loosens Standards on Emergency Loans" - NYTimes, 9/15

"In an obscure but highly important announcement late Sunday evening, the Fed said it would let Wall Street firms post as collateral much riskier assets — including equities, junk bonds, subprime mortgage-backed securities and even whole mortgages — in exchange for emergency loans through the Primary Dealer Credit Facility."

You think a Gregg Jefferies rookie card is worth anything in collateral?  How about those old Beanie Babies?   Or maybe old Cabbage Patch Kids dolls?  Who knows what they'll take at this point.

Comments

[Dane Summers]

Love that Jefferies card, how about Mat Nokes and Sam Horn cards as well?

[Dane Summers]

Love that Jefferies card, how about Mat Nokes and Sam Horn cards as well?

[Dane Summers]

Love that Jefferies card, how about Mat Nokes and Sam Horn cards as well?

[Dane Summers]

Love that Jefferies card, how about Mat Nokes and Sam Horn cards as well?

[Vegetarian Bodybuilding]

Ummmm I have a Christian Laettner rookie card