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ritholtz.com - 4/28/2009
Our Next Troubled Bank: The Fed
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Fascinating stuff: “All of this garbage paper that’s going bad — the troubled residential mortgage backed securities (RMBS), the commercial mortgage backed securities (CMBS), the asset backed securities (ABS), the Fannie Mae bonds, the corporate loans, and so on — hasn’t just gone ...
istockanalyst.com - 4/27/2009
The Fed: Our Next Troubled Bank?
— istockanalyst.com — Mike Larson The Federal Reserve is watching the backs of U.S. banks. But sometimes I wonder, “Who’s... watching the Fed’s back? Is the Fed our next troubled bank?” You see, all of this garbage paper that’s going bad — the troubled residential mortgage ... (more) The Fed: Our Next Troubled Bank?

Comments vote down The Big Picture found this 4/27/2009found this
becker-posner-blog.com - 4/27/2009
Is the Federal Reserve Losing Its Independence? Posner
— becker-posner-blog.com — Even in a democracy, it is believed that certain government functions should be placed beyond the control... of democratic politics. The usual example is the judiciary (though most state judges in the United States are elected, this is a considerable ... (more) Is the Federal Reserve Losing Its Independence? Posner

Comments vote down Corporate Compliance Insights found this 4/27/2009found this
globaleconomicanalysis.blogspot.com - 4/22/2009
Commercial Real Time Bomb Goes Off But No One Notices
— globaleconomicanalysis.blogspot.com — The Commercial Real Estate Time Bomb has gone off but it has been lost in the euphoria... of economic cheerleading and bottom calls based on dubious (at best) earnings reports from banks. Here are a few headline items from the past week or so to ... (more) Commercial Real Time Bomb Goes Off But No One Notices

Comments vote down Abnormal Returns found this 4/22/2009found this

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Random Roger:  We Are Not Iceland, We Are Not Iceland

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We Are Not Iceland, We Are Not Iceland
Random Roger — I had that thought I as took a peek at this from Barry Ritholtz attributed to Mike Larson. Mike has some numbers on the extent to which the Fed has levered up its balance sheet and the composition of the holdings. In the last two year the Fed has apparently gone from 27-1 leverage to 48-1 leverage and the quality of the holdings, not surprisingly, has deteriorated. The consequences of this as listed by Mike and certainly not new to you include whether the US' AAA rating is in jeopardy, how long will foreign buyers of US debt drink the kool-aid and can dollar continue to hang in there as well as it ...

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