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Fed Moves $421.8 Billion Without Warning, Is the Fed Bailing out Greece?
The Market Oracle ^
| 4-14-2010
| Dr Jeff Lewis
Posted on 04/14/2010 5:56:31 PM PDT by blam
click here to read article
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To: blam
21
posted on
04/14/2010 6:28:04 PM PDT
by
Buddy B
(MSgt Retired-USAF - Year: 1972)
To: blam
Propping up the stock market, more likely.
To: buccaneer81
amount is almost exactly what a two week Space Shuttle mission costs
Misplace a decimal point there bucaroo? $400 + BILLION would be one hellofa shuttle ride.
23
posted on
04/14/2010 6:32:55 PM PDT
by
dusttoyou
(libs are all wee wee'd up and no place to go)
To: blam
No. The jump was caused by "Financial Accounting Statements No. 166". This new set of rules deals with the way U.S. banks must handle off-balance-sheet vehicles (OBSVs).
Prior to the financial crisis, OBSVs were common. When banks acquired particularly risky assets such as sub-prime mortgages, they would create a special holding company to take possession of these instruments.
Banks themselves could then report a pristine balance sheet, uncluttered by high-risk assets. The banks still owned the OBSVs, and if the assets did pan out they could reacquire them and come out golden. If the risky instruments blew up they could be left where they were, with no one the wiser.
This practice was scrutinized heavily following the financial collapse. Regulators decided (rightly) that banks were using OBSVs to distort their balance sheets, giving investors and clients an inaccurate picture of financial health.
So FAS No. 166 was created to "bring the balance sheets home". As of March 31 of this year, banks were forced to bring all off-balance-sheet assets back onto the books.
A good chunk of these assets were loan portfolios, which caused the massive jump in outstanding loans and leases shown in the chart above.
24
posted on
04/14/2010 6:33:13 PM PDT
by
nc28205
To: blam
Could become the 58th state.
25
posted on
04/14/2010 6:33:17 PM PDT
by
bigbob
To: Liz
26
posted on
04/14/2010 6:33:24 PM PDT
by
stephenjohnbanker
(Support our troops....and vote out the RINOS!)
To: dusttoyou
I know. See my next post (#19.) A Mars mission is more like it.
To: NTHockey
28
posted on
04/14/2010 6:43:26 PM PDT
by
nc28205
To: nc28205
Its all a shell gme of play money for the feds we endupfooting the bill
To: blam
They’re keep the stock market on the rise.
30
posted on
04/14/2010 6:51:46 PM PDT
by
Carley
(I'll keep clinging to the constitution, my guns and my religion, thank you.)
To: blam
They’re keeping the stock market on the rise.
31
posted on
04/14/2010 6:51:56 PM PDT
by
Carley
(I'll keep clinging to the constitution, my guns and my religion, thank you.)
To: Bigtigermike
Its time to end the Fed
Ain’t gonna happen.
32
posted on
04/14/2010 7:00:22 PM PDT
by
unkus
To: boycott
A lot of this money might now be in off shore accounts.
33
posted on
04/14/2010 7:01:17 PM PDT
by
unkus
To: unkus
I’d guess support almost failed domestic banks.
34
posted on
04/14/2010 7:03:30 PM PDT
by
east1234
(It's the borders stupid! My new environmentalist inspired tagline: cut, kill, dig and drill)
To: east1234
35
posted on
04/14/2010 7:03:49 PM PDT
by
east1234
(It's the borders stupid! My new environmentalist inspired tagline: cut, kill, dig and drill)
To: blam
36
posted on
04/14/2010 7:05:30 PM PDT
by
tutstar
(Baptist Ping list - freepmail me to get on or ...off..)
To: andy58-in-nh
"I'm sorry: exactly whose money are they lending again?"Hey...GWB gave Africa $50 billions of my money just before he retired to his multimillion dollar house in Dallas... You'd think he'd have sent some of his millions, eh?
37
posted on
04/14/2010 8:36:47 PM PDT
by
blam
To: RC one
Since when does government not have to answer where it’s loaning our money? Even if you say the fed is private, they still can be hauled up before Congress and forced to answer.
If not, it’s time to dismantle the Fed completely. We can’t have a private group doing this and that in the billions and trillions with our money and be told we can’t know what they’re doing with it. And then the whole issue of fiat money and fractional reserve lending, don’t get me started.
38
posted on
04/14/2010 10:23:37 PM PDT
by
Secret Agent Man
(I'd like to tell you, but then I'd have to kill you.)
To: blam
Man this stuff is poorly understood.
For example it looks like most or all of the TARP money that the fed loaned out to banks in Oct 2008 has been paid back—except by AIG and GM and there were profits of 50-60 billion on the loans so whatever losses that were incurred may have been made up for by profits...
Therefor the original efforts to quell the financial crises of the fall of 08 look to be pretty successful. Right now, that’s what the stock market is telling us.
But just I just don’t know. And neither does it appear — does anyone else.
If the fed loaned out 450 billion...is it likely that they doled out money they planned to lose? I think not.
But once again, I don’t know. Nor does anyone else it appears.
39
posted on
04/15/2010 12:14:41 AM PDT
by
ckilmer
(Phi)
To: nc28205
Do you mean that Kanjorski lied? How can that be? So the October surprise was all a hoax? Does that mean the election was a fraud?/s
BTW, bad link. It comes up “Page not found”.
40
posted on
04/15/2010 1:51:03 AM PDT
by
NTHockey
(Rules of engagement #1: Take no prisoners)
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