Is everyone glossing over this news item? It was announced earlier in the morning, but few details came with the announcement.
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Fed to buy massive amounts of short-term debt
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http://biz.yahoo.com/ap/081007/financial_meltdown.html
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The Treasury will provide money to the Federal Reserve Bank of New York to support the new program, the Fed said. Fed officials would not say how much but believed it would be substantial. The money would not come from the $700 billion financial bailout President Bush signed into law on Friday.
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How much is substantial?
And the