Transcripts of the monetary policymaking body of the Federal Reserve from 2002–2008.

We’ve heard from practically everyone that’s not within the class of consumer ABS and SBA loans. We have heard from the commercial real estate people and from the auto dealers about their floor plan loans; we have heard from the banks that would like to get the motorcycles and leases. But also corporate loans—the CLO (collateralized loan obligation) market also is shut down. So there is no question. Again, we’re in a hard place because, if we weren’t constrained in part by the TARP capital and our concerns about our balance sheet, we would maybe be able to have a much broader program in which we didn’t have to make these kinds of decisions. But given that there’s only $20 billion of TARP capital and we’re willing at this point to go only to $200 billion, you can’t really say we’ll take all these different asset classes.

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