I don't know about you, but I am having a very hard time keeping up with all these money dispersion programs. What is it now, $7.2 trillion or $8 trillion? Who cares! Who is counting? It's the season of giving, isn't it?
Well, the FTA has come to the full realization that the consumer is in a big-time hurt. It stepped up its efforts to support strained credit markets through a new program backed by the Treasury Department aimed at boosting consumer credit and another to bolster the market for mortgage-backed securities.
The Treasury Secretary Paulson added that the current lack of credit available to consumers was undermining consumer spending and weakening the economy. Mr. Paulson said Treasury, the Fed and other federal government officials plan to take all the steps necessary to "minimize the spillover into the rest of the economy.
Source: Wall Street Journal
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