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Federal Intervention in the Banking Crisis

By Kimberly Amadeo, About.com Guide

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(Continued from Page 3)

December 2007 - Fed Auctions $40 Billion

The Fed created the Term Auction Facility to supply short-term credit to banks with sub-prime mortgages.

Fed Lowers Rate to 4.25%

November 2007 - Treasury Creates $75 Billion Superfund

The Treasury Department guarantees $75 billion in subprime debt. At the time, we thought that was a lot.

October 2007 - Fed Lowers Rate to 4.5%

September 2007 - Fed Lowers Rate to 4.75%

August - Fed Lowers Discount Rate to 5.75%

Fed Bailout - How, Why and Will It Cost Me?

If only we knew then what we know now.

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Kimberly Amadeo

Kimberly Amadeo
US Economy Guide

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