baselinescenario.com - 14 days ago
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On Monday the Treasury Department (various officials, including Geithner, in shifts) had an informal meeting with eight prominent finance or economics bloggers. I’ve only read the accounts by Tyler Cowen , Steve Waldman , and Yves Smith ; Waldman names all of them and links to other ...
interfluidity.com - 15 days ago
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interfluidity.com —
It worked! Officials pointed to a lot of
good news in terms of visible cash flows associated
with TARP and the various assistance programs. They claimed that since the Obama administration has taken office, more money has come back than has been put ...
(more)
Sympathy for the Treasury
nakedcapitalism.com - 17 days ago
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nakedcapitalism.com —
The Treasury invited a small group of bloggers
for a “discussion” with senior officials on Monday. Initially,
the meeting was to be background, which is a sort of journalistic “FYI but you can’t use it” but we were told ...
(more)
Curious Meeting at Treasury Department
accruedint.blogspot.com - 17 days ago
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accruedint.blogspot.com —
Yesterday myself and several other financial bloggers got
the chance to meet with several senior Treasury officials,
including the Secretary himself. It was a fascinating experience and I have to admit, it was just plain cool to be within the bowels ...
(more)
Accrued Interest: Financial Regulation: How would you ...
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Friday links: the risk trade
Abnormal Returns —
... Salmon, “If the US no longer drives the global economy, then the rest of the world will be much less inclined to fund its twin deficits to the tune of trillions of dollars per year.” (Felix Salmon)
Which bloggers were invited to the sit down with Treasury officials? (Aleph Blog, ibid also Marginal Revolution, Kid Dynamite, Baseline Scenario)
A new (virtual) hang out for distressed debt ...
How to run a successful blog
Marginal Revolution —
... Whoops! That's not advice for running a successful blog. Those are James Kwak's comments on how Treasury tries to trick visiting bloggers. We bloggers should know. We give away lots of free stuff too, more than cookies even if it is sometimes sour rather than sweet. ...
My Visit to the US Treasury, Part 6
The Aleph Blog —
... that interfere with the free market through offering cheap lending terms. They give a temporary lift that leads to greater problems once the subsidy is spent away. So it is now with government subsidies and loans.
Other Posts
Two more posts on the meeting, one from a blogger who was there:
A Sit Down With Senior Treasury Officials – Part II
and one who was not, somewhat critical, but constructively so:
Treasury and the Blogs
As for me, I’m glad I went. I have a better zeitgeist of ...
Discretion and financial regulation
Interfluidity —
... hesitate to do so for big banks. Also managers of smaller banks can be perfunctorily defenestrated, while managers of megabanks somehow survive (and even when they don't, they are too wealthy to have to care). Again, one hates to be mean, but treating the managers of trouble-causing banks roughly is important both to get the incentives right and out of regard for justice. We should insist upon a market structure in which financial institutions are universally small. But smallness cannot be defined by balance-sheet assets alone . We need to manage the degree of ...
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Treasury is right to go long
blogs.reuters.com 23 days ago — Timothy Geithner wants to lock in low rates for the government while he can, extending the maturity of Treasury debt to 72 months from 49, a 26-year low.
It’s a smart move — if he can pull it off.
To do so, he’ll have to ...
My Visit to the US Treasury, Part 3
alephblog.com 15 days ago — Going back to bank stress-testing for a moment, one interesting thing that a Treasury official said at the meeting was that unemployment did not have a big effect on foreclosures. Unemployment has a big effect on credit card defaults, but not foreclosures. I disagree.
As a multi-purpose ...
My Visit to the US Treasury, Part 6
alephblog.com 13 days ago — Now, none of us knew when we came that only bloggers were invited. Personally, I expected it to be a broader press briefing that some bloggers could come to as well. “Deep background” is well understood to the press, but new to bloggers. My blogging friends at the meeting can ...
An Introduction to Treasury Auctions
vixandmore.blogspot.com 8/26/2009 — It remains to be seen whether the growing U.S. Department of the Treasury auctions will be a relatively quiet sideshow or eventually take the center stage in the ongoing financial crisis. As the number of potential disaster scenarios continues to shrink, one subject that I see receive ...
Impressions from Treasury
marginalrevolution.com 15 days ago — I will enumerate a few (you can trace other accounts here ): 1. Tim Geithner is very smart and he was conceptually stronger than one might have expected. 2. I believe that the long, L-shaped hallways encourage "visits to offices" rather ...
Treasury to say 3 more funds to buy toxic assets
reuters.com 10/5/2009 — WASHINGTON (Reuters) - The U.S. Treasury Department will announce on Monday that three more funds have met requirements to get government financing that will let them begin purchases of banks' so-called toxic assets. Treasury said last Wednesday, ...
Bond Market Open November
acrossthecurve.com 15 days ago — Prices of Treasury coupon securities have posted modest losses in overseas trading. I do not see a strong impetus in the news for the small declines in Treasury prices. Stocks around the globe are trading well with robust gains in Europe and healthy ...
F.D.I.C. May Borrow Funds From Banks
dealbook.blogs.nytimes.com 9/22/2009 — Tired of the government bailing out banks? Get ready for this: officials may soon ask banks to bail out the government.
No Way Out: Treasury And The Price Of TARP Warrants
baselinescenario.com 6/29/2009 — Buried in the late wire news on Friday – and therefore barely registering in the newspapers over the weekend – Treasury announced the rules for pricing its option to buy shares in banks that participated in TARP.
The Treasury Department said the banks will make the first offer ...
Treasury Bailout's Limits on Lobbyists Still Haven't Taken Effect
online.wsj.com 8/15/2009 — MEENA THIRUVENGADAM WASHINGTON -- A plan by Treasury Secretary Timothy Geithner to limit lobbyists' influence over the $700 billion bailout program has yet to get off the ground -- even as the program nears an end. Just a few hours after being sworn ...
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