Fed Bails To No Avail Against Flood of Treasuries

``The ship is sinking. The Fed continued the fastest 3 week expansion of the monetary base in the past 7 years on Friday. But it was not enough to offset the $76 billion in new Treasury debt that is settling during the period from yesterday to Monday. Outside of the week after 9/11/01, nothing else approaches the size of the Fed’s recent liquidity injections. These injections are not helping to stabilize stocks, nor are they likely to, as the Treasury continues to inundate the market.''