Shutdown: Economic Support Systems Would Continue, Even As Housing, Small Businesses Take Hits

[abelenkpe]

Shutdown: Economic Support Systems Would Continue, Even As Housing, Small Businesses Take Hits

http://www.huffingtonpost.com/2011/04/08/shutdown-economy-support-continue_n_846761.html

If the federal government shuts down tonight, much of the apparatus that has helped prop up the faltering economy will remain in place.

The Federal Reserve will continue its $600 billion asset-purchase program, buying government debt from Wall Street banks in an effort to get money flowing through the economy. The Treasury, which, as of late March, owned $142 billion of mortgage securities, will continue to sell that portfolio, as it works to earn a profit on the taxpayers' investment. The New York Fed will continue selling the toxic securities it bought from AIG during the height of the financial crisis.

Even if thousands of workers are furloughed, and struggling families miss government checks, these economic support systems will continue.

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Well isn't that special? Gov shutdown won't effect funneling money to too big to fail banks.

[snappyturtle]

1. Nothing new here, is there? What a crock. nt