Investment firms have sharply increased the protection they buy to protect against macroeconomic shocks.» Read More
QE2 sounds like something out of a Star Wars movie. One of my kids who overheard me talking about QE2 thought it was C3PO's brother. When I tried to tell him it was quantitative easing, that was all a six year old had to hear. His eyes glazed, and it was like I was talking Ewok.
Too bad QE2 wasn't a guarantee that the force of the Jedi would be behind it and save the day. This is what economists and CEOs are debating as the important two day Fed meeting approaches. The economy, while still sluggish, looks "less bad" than it did a year ago. But with interest rates already near zero, just how much oomph can this additional quantitative easing have on the economy? ??
In the first quantitative easing, the Fed purchased some of the bad assets from the banks. But this time the Fed is tackling a different set of economic problems. It's not just bad paper. It's the overall economy that's in need of a serious jolt.
To: Larry Fink, BlackRock; and Jamie Dimon, JP Morgan Chase
Re: This Ridiculous Idea Of Getting Mike Bloomberg To Run For President
I am writing because I think it’s important the we nip this thing in the proverbial bud, guys. Michael Bloomberg will never be the president of the United States and you are simply going to make yourselves look foolish encouraging him to run.
Mike’s very popular on Wall Street. You hear it all the time, from Republicans, Democrats, Independents and even the anti-political. Muscle your way into any of the water-holes guys on the Street push into after the market closes and you’re unlikely to find one harsh critic of the mayor.
Fraudclosure...Mortgage Mayhem in the Good Old USA...a Saga of Greed, Destruction and Redemption (?)…and the curtain opens...
Act 1: A smart mortgage guy I know from the West Coast asks a salient question: “How can the likes of BofA, \(JPMorgan\) Chase, Citi, et al be allowed to reduce their loan loss reserves to bolster their balance sheets in the midst of Fraudclosure and their liabilty exposure to buying back an estimated $80 Billion of MBS which were "improperly" packaged in CDOs?”