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Tag Archives: audit the Fed

Summary of amendments to the Dodd draft

Amendments to Dodd bill – HT — Shahien at Huffpo

Volcker, Bernanke and central bank authorities and conflicts

I’m attending a hearing of the House Financial Services Committee today. Ben Bernake and Paul Volcker will testify to the House of Representatives on “Examining the Link Between Fed Bank Supervision and Monetary Policy.” I have a fundamental question about how the Federal Reserve separates it’s oversight and dealings with Wall Street from it’s public stewardship of the nations economy. […]

Unraveling the profit puzzle at Goldman Sachs I

From PBS’s Lehrer show… ” As part of his continuing series of reports making sense of business and the economy, Paul Solman examines the inner workings of investment powerhouse Goldman Sachs and how it makes money.”

The Fed’s balance sheet

A picture’s worth a thousand words… Excellent commentary at ZeroHedge… Click the graph for an extra large version…

Confirming Ben Bernanke III

The confirmation of Ben Bernanke moved a step forward today….  the vote was 16 – 7 in favor… But an expanding group of Senators is questioning the role of Chairman Bernanke over his role in the bailout of AIG, Goldman Sachs and European banks in September of 2008. In the hearing two camps emerged as Senators […]

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 […]

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 […]