Gone are the days of college dorm rooms papered entirely in panels from Abercrombie & Fitch bags, with abs, golden, undulating abs as far as the eye could see. After announcing last year that the company would be phasing out the ubiquitous stomach muscles in its ads, now the only six-packs you’ll see are on a bottle of the brand’s cologne. [More]
Today the Federal Reserve announced the creation of a new special purpose entity that will buy consumer and business debt. Under the new plan, the Treasury will provide $20 billion dollars in of credit protection (from the Troubled Asset Relief Program) — and will absorb most of the losses, should they occur.