http://www.forbes.com/2007/08/17/banks-fed-funding-biz-cx_lm_0817banks.html?partner=daily_newsletter
This action by the Fed took place last Friday and is why the market was up 200+ points. It is a much more targeted action than changing the fed funds rate, a much broader brush stroke. I like the move personally, but we’ll see if it has a sustainable impact on the markets.