What the FED accepts as collateral these days

Ilargi: The following is from a discussion at one of Karl Denninger's forums at his site, Ticker Forum. I think it's an important one, so I decided to select the "most relevant" bits, in my view, and post it here. I highly recommend a regular look at Karl's forums, and his site, there's a lot of good quality information there.In the next few days, you are likely to see people write about an FDIC