this article is a fun little read providing an alternate perspective of fed recent action.
http://market-ticker.denninger.net/2008/03/short-bus-rolls-again.html
below is a snippet
The action today was nothing more or less than an attempt to stabilize Agency spreads which were blowing wide in a historic short squeeze that was threatening to collapse major financial institutions!
Yet if you listen to CNBS, including Fast Money, you hear these guys saying that "The Fed Injected 200 billion in money."
NO THEY DID NOT! IN FACT, THEY EXPLICITLY INJECTED EXACTLY ZERO DOLLARS INTO THE SYSTEM; A SWAP OF ONE SECURITY FOR ANOTHER OF IDENTICAL SIZE AND FACE IS A BIG FAT NET ZERO IN TERMS OF BALANCE SHEET AND MONEY SUPPLY IMPACT.
THE FX MARKETS "GOT IT" IMMEDIATELY BUT NOBODY ELSE DID!
The Fed did what it always does - try to bail out the banks.
Who's in trouble?
Who the hell knows - they won't tell us!
- Forums
- ASX - By Stock
- XJO
- teletubbies thursday
teletubbies thursday, page-167
-
- There are more pages in this discussion • 50 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XJO (ASX) to my watchlist
(20min delay)
|
|||||
Last
8,187.4 |
Change
10.500(0.13%) |
Mkt cap ! n/a |
Open | High | Low |
8,176.9 | 8,226.7 | 8,173.8 |
Featured News
XJO (ASX) Chart |
The Watchlist
AHK
ARK MINES LIMITED
Ben Emery, Executive Director
Ben Emery
Executive Director
SPONSORED BY The Market Online