I understand that this was the talk of the Bond Markets (Rick Santelli - at least CNBC is good for some things - along with Meredith Whitney's run down of post stress tests thoughts) last night:
http://www.youtube.com/watch?v=PXlxBeAvsB8 Is Anyone Minding the Store at the Federal Reserve?
Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is.
http://www.cnbc.com/id/15840232?video=1120084432&play=1 Meredith Whitney - Beyond the Stress Tests
Did anyone see Timmy G on Charlie Rose all the way through? I am struggling trying to hold my attention given he avoids both the "D" question and the "too big to fail" question.
I read the transcript through quickly and it appears that this part (preview of the program) was left on the cutting room floor - in which he states that the Supervisors tell the Banks to raise capital and how much - which is telling if so b/c it pretty much goes against everyone's understanding of how the "stress tests" ended up (NYT article) - ie the banks told the Treasury how much Capital they thought they should raise:
