tuesdays tank, page-13

http://www.reuters.com/article/privateEquity/idUSN1434057320080915

"the Fed will accept equities as collateral for central bank loans for the first time ever."


I'm not predicting market direction here but I reckon this is the biggest news on the planet as it effectively makes the Fed long equities at margin. It either stops here or the whole system disintegrates ie the stock market crashes then so does the Fed. What fun. I'll say it again if you aren't already in the money there is extreme danger shorting this hole.