The Fed bails out SIVs with conjured money

Excellent article explaining the SIV crisis:
“SIV-Positive,” by Eric J. Fry, October 26, 2007
http://www.agorafinancial.com/afrude/ 
Fry writes:
Since almost all the investors who comprise the free market refuse to purchase ABCP [asset-backed commercial paper], the Federal Reserve has stepped into the breach. . . .
Could the Fed conjure up $1 trillion worth of AB financing between now and President’s [...]