Fed

  • News

    Fed Pressures Treasury Not To Wipe Out Fannie Mae Preferreds

    The Federal Reserve has been quietly pressuring the Treasury Department not to adopt a rescue plan for Fannie Mae and Freddie Mac that would wipe out the value of their preferred shares, according to a source familiar with the matter. The Fed fears that any move that hurt the preferred could worsen the crisis in […]

    / Aug 25, 2008 at 11:08 AM
  • News

    PIMCO’s Bill Gross: The Fed Will Keep Lehman Afloat

    Bill Gross just appeared on CNBC to crush the rumor that Pimco was diminishing its exposure to Lehman Brothers either by reducing its trading positions with Lehman or reducing any investment in Lehman. In his comments he said that Pimco’s willingness to continue to deal with Lehman Brothers and other potentially troubled securities firms is […]

    / Jul 10, 2008 at 1:29 PM
  • News

    Fed and SEC to Compare Notes, Hank Paulson Blesses Union

    Today the Federal Reserve and the SEC signed the memorandum of understanding that would expand their information-sharing and cooperation along the lines of Henry Paulson’s “Blueprint” for regulatory reform. The agreement is designed to bridge the gaps currently in the oversight structure, notably by allowing Bernanke to see the positions and leverage of financial firms. […]

    / Jul 7, 2008 at 4:35 PM
  • politics

    Cox to Bernanke and Paulson: “How Come You Guys Don’t Call Anymore?”

    SEC chair Christopher Cox missed the 5am conference call when Ben Bernanke and Hank Paulson decided that the Fed would lend funds to rescue Bear Stearns from bankruptcy, the Wall Street Journal reports on today’s front page. The call’s time changed and no one bothered to tell Cox, who didn’t know until he came into […]

    / Jun 23, 2008 at 1:21 PM
  • News

    Scenario Contest Friday

    This man was spotted outside the Federal Reserve Bank of New York yesterday at 11:20 am.

    / Jun 13, 2008 at 12:25 PM
  • News

    Fed Cuts 25 Basis Points: UPDATE

    My darlings, you are in for a treat. I just got off the phone with Carney, who called moments after the Fed’s 25 basis point cut announcement. Now, we won’t be forced to slog through a piss poor attempt on my part to replicate the post-decision congratulatory remarks we’ve all come to know, love and […]

    / Apr 30, 2008 at 2:58 PM
  • News

    Keep On Predicting What The Fed Will Do– Because Ron Would’ve Wanted It That Way

    Just in case you missed it, we ran a reader poll yesterday to predict what the Fed will do at 2:15, in memoriam of our fearless leader, Bon Quarney. Lon loved breaking out his crystal ball on such occasions (and what visions! Don’t get me started reminiscing…), and while the DealBreaker Fed Poll was his […]

    / Apr 30, 2008 at 10:30 AM
  • News

    Let’s Predict the Fed Move — Because Don Would Have Wanted It That Way

    A few readers have noted that the wheels are coming off here in the absence of our fearless leader, Ron Blarney, and his capacious intellect and market moving insight. While I could never hope to bring the same gravitas that he has demonstrated in his coverage of the rice market, I will now endeavor to […]

    / Apr 29, 2008 at 4:45 PM
  • News

    Rate Cuts and Fed Rescue Prompt Outrage At Wall Street

    It’s well known that many Bear Stearns shareholders are not too happy that they may be asked to bear at least some portion of the cost of rescuing the financial markets from aftershocks of a Bear Stearns bankruptcy. Many believe they’d fare better in bankruptcy. Politicians are also lining up to take advantage of the […]

    / Mar 19, 2008 at 8:59 AM
  • News

    Bernanke’s Mother Also Available For Quotes (Not So Much Dad, Who Never Thought He Was Good Enough)

    A lot of you think the end is nigh. You think there’s no way out. You think JPMorgan is going to replace all of Bear Stearns with this huge bug, and that’s going to be the end of it. And you think the guy who should be saving and holding and stroking us all, Ben […]

    / Mar 18, 2008 at 1:20 PM
  • Economic Indicators

    The Real Unemployment Number

    Good morning. Officially the February jobs number declined by 63,000. But the expansion of government jobs conceals the real damage our economy has suffered. Net out the government jobs and you have private sector employment contracting by around 101,000 jobs. Making matters even worse, average hourly wages have gone up 5 cents, fueling fears of […]

    / Mar 7, 2008 at 9:17 AM
  • News

    Fed Meeting Today: Sources Say Rampant Emergency Rate Cut Speculation Unfounded

    The Federal Reserve’s Board of Governors is meeting today. Although the meeting is officially a regularly scheduled meeting of the board, it has sparked speculation that the Fed may be preparing for some kind of emergency action prior to the March 18th meeting of the FOMC. The official notice of today’s meetings notes that a […]

    / Mar 3, 2008 at 9:10 AM

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