In March the Fed created a facility to swap up to $200 billion of its Treasuries for investment banks' holdings of hard-to-trade mortgage-backed securities.
"It's crazy to create a facility around a ship that's many decades old," said Michael Immerso, a spokesman for the Coalition for a Nuclear-Free Harbor. Nuclear-Free Harbor
"But we are creating a facility for the school and a facility for the community and in times of financial stringing this is something we have to think of doing".
Mr. Bernanke offered his remarks in a letter to members of Congress who had asked the Fed to create a facility to breathe new life into segments of the municipal bond market that were still paralyzed.
Best I can piece together, the administration's recovery plan — due out shortly — will look something like this: The U.S. government will create a facility to buy the toxic mortgages off the balance sheets of the major banks.
The proposal to create a facility housing 200 beagles and 180 puppies, along with ferrets, in Grimston, East Yorkshire, had previously been turned down twice following opposition from local residents and anti-vivisection campaigners.
"I can't wait to put a shovel in the ground and create a facility that will be a source of affordable, family fun for generations to come," he said in a statement.
Now, more than ever, their goal of creating a facility with observing powers in visible and infrared light that equal or surpass anything else in the world seemed attainable.
"She convinced me that we should create a facility for the next century that would not only serve the needs of the school, but also the local primary schools and the community," he recalled.
The Obama administration would be affirmatively creating a new system of detention without charge for terrorism suspects on American soil, setting a precedent and creating a facility readily available to future presidents wanting to rid themselves of a range of potentially dangerous actors.
