[lbo-talk] borrowing as a public service

[Jordan Hayes]

> [This is a little odd: we're borrowing from the discount window to
> show it's ok? Not because we're strapped for cash and don't want to
> say that lest we scare the hell out of everyone?

It's psychological, right?  But it's also supportive: if you have access 
to a credit line, you're less likely to feel the need to get liquid by 
selling something that you're not quite ready to sell.  Selling stuff 
you don't want to sell is a good way for crunches to snowball, since 
then others who are holding that thing see the price go down and are 
similarly pressured to sell.

So why not create something out of thin air and let people borrow it to 
keep them from selling off other things?

Sounds good to me.

/jordan