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Monthly Archives: November 2009

may already have lost control of the dollar…

Peter Boockvar, an equity strategist at Miller Tabak & Co., talks with Bloomberg’s Pimm Fox about the Federal Reserve’s planned test of one of the tools for the eventual withdrawal of the central bank’s unprecedented monetary stimulus. The New York Fed said it will conduct “small scale, real value” three-way reverse repurchase transactions in coming […]

Confirming Ben Bernanke

There are many important events happening this week in our nation’s capitol but one of the most critical is the hearing of the Senate Banking Committee regarding the confirmation of Ben Bernanke. (Thursday, December 3, 2009, 10:00 AM) The Federal Reserve has undertaken an extraordinary expansion of their mandate as lender of last resort by massively expanding their balance […]

Rest in peace Mark Pittman

Bloomberg reports the passing of one of America’s most important and influential investigative reporters, Mark Pittman… Mark was the spear point for uncovering the complexities and potential wrongdoings of the financial crisis… Bloomberg quotes another leading financial columnist on Mark’s passing… ~~~~ … “He’s been on this crisis since before the crisis,” said Gretchen Morgenson, the […]

Global hot money flows…

Taxing the Speculators by Paul Krugman 223. Cate Long Washington, DC November 27th, 2009 2:35 pm Outstanding column Professor Krugman: Taxing securities transaction already happens in the Unites State under SEC Section 31 fees. These fees for stocks and options are overseen by the SEC and administered by the exchanges and FINRA. Taxing options, derivatives […]

that their seas and rivers were full of fish, the air sweet, the climate healthy, and above all, they were in the full enjoyment of liberty, civil and religious

The Real Story of the First Thanksgiving By Benjamin Franklin (1785) “There is a tradition that in the planting of New England, the first settlers met with many difficulties and hardships, as is generally the case when a civiliz’d people attempt to establish themselves in a wilderness country. Being so piously dispos’d, they sought relief […]

Shadow banking – the dark side of too big to fail

‘Process of Reflation’

From Bloomberg… ~~~”…Bill Gross, who runs the world’s biggest bond fund at Newport Beach, California-based Pacific Investment Management Co., said that the “systemic risk” of new asset bubbles is rising with the Fed keeping rates at record lows. “The Fed is trying to reflate the U.S. economy,” Gross said in his December investment outlook on […]

Secretary Geithner should resign

I first published this post on November 21, 2009… I believe it is even more the case now. Timothy Geithner serves Wall Street. Our economy and nation will not be repaired until the control of Wall Street over the government, the Federal Reserve and the nation is broken. US Treasury Secretary Geithner should resign from office. […]

This is what reform sounds like… part II

Visit msnbc.com for Breaking News, World News, and News about the Economy Thank you  Chairman Gensler for your heavy lifting on derivatives reform. More on derivatives reform at Riski…

They consult with both the U.S. Treasury and the Fed about funding the budget deficit and implementing monetary policy.

A primary dealer is a bank or securities broker-dealer that may trade directly with the Federal Reserve System of the United States (“the Fed”).[1] Such firms are required to make bids or offers when the Fed conducts open market operations, provide information to the Fed’s open market trading desk, and to participate actively in U.S. Treasury […]