Daily Archive: Monday, July 14, 2008

The $30 billion of Bear Stearns secs were sold to the Fed

[Skip to the end] Doesn’t look like a funding operation. Looks like JPM sold the Bear Stearns securities to the Fed and retained a first loss piece: Text in JP Morgan’s 10Q: “Concurrent with the closing of the merger, the Federal Reserve Bank of New York (the “FRBNY”) will take control, through ...Read More

2008-07-14 Weekly Credit Graph Packet

[Skip to the end] IG On-the-run Spreads (Released 5:44 EST) IG6 Spreads (Released 5:44 EST) IG7 Spreads (Released 5:44 EST) IG8 Spreads (Released 5:44 EST) IG9 Spreads (Released 5:44 EST) IG On-the-run Spreads (Jul 14) [top][end] IG6 Spreads (Jul 14) [top][end] IG7 Spreads (Jul 7) [top][end] IG8 Spreads (Jul 14) [top][end] IG9 ...Read More

Warren Mosler speaks at PK conference, Parts I-IV

[Skip to the end] Warren B speaks at lunch time during an economic conference. Completely unedited. Warren Mosler speaks at PK conference, Part I         Warren Mosler speaks at PK conference, Part II         Warren Mosler speaks at PK conference, Part III         ...Read More

Reuters: Food price supports

[Skip to the end] more inflation. Prices are up due to short supplies due to biofuels and weather. And the political response is handing out funds to those in need, even though that doesn’t create more to eat. As previously discussed, governments have no choice but to step on the inflation pedal. ...Read More

FT: Time for comrade Paulson to pull the plug on the Fannie and Freddie charade

[Skip to the end] Totally misguided regarding public purpose. For one thing, the shareholders of the agencies are still there for ‘market discipline’ – all that’s been done for them is eliminated liquidity issues, not solvency issues. At the end of the day a lot of houses were built for a lot ...Read More