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Tag Archives: repo

Lehman, AIG and repo… what an expensive mess…

More on Lehman, AIG and repo from Riski… I did want to point out that the Lehman Examiner (Jenner and Block) cost the estate $38 million dollars for their work… in contrast the Financial Crisis Inquiry Commission, which is tasked to examine the entire financial meltdown, has a budget of $8 million…. it is really shameful how […]

Via the repo market, real banks came to resemble shadow banks

An excellent review of Yves Smith’s new book “ECONned: How Unenlightened Self Interest Undermined Democracy and Corrupted Capitalism” at Jesse’s Cafe Amercain… There is a very interesting bit about the shadow banking system and repos… of course no one in Washington is talking about this… “…And now we are ready for Chapter 9, where all […]

Under the deep blue moon

:::: This research piece from the Bank of International Settlements (December 2008, Hordahl and King) details the malfunctioning of the interbank markets in the late summer to the end of 2008… the smooth functioning of these markets are critical to the Federal Reserve and other central banks efforts to effect monetary policy. This is the plumbing of Federal […]