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TALF Proves To Be Overhyped Failure
Fed says TALF loan demand fell to $1.7B from $4.7B last month. Recall that the WSJ earlier reported that only two issuers had put together about $1.4B of TALF-eligible bonds heading into today's 17:00 ET deadline, significantly less than the $8.2B put together ahead of the March funding. The article noted that tedious paperwork, fear of legislative interference and curbs on hiring foreign workers have discouraged many firms from participating in the TALF. Also recall Zero Hedge's thoughts on the matter.
hat tip reader Momentum Chaser
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