Radio Free Wall Street 2/8/2008

Lee Adler and Aaron Krowne talk about the latest happenings in the financial markets, including an in depth review of the latest housing market data.

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4 comments for “Radio Free Wall Street 2/8/2008

  1. don
    February 8, 2008 at 9:26 pm
  2. admin
    February 8, 2008 at 10:02 pm

    Excellent article. Thanks for the link.

    It’s important to distinguish that the Fed does not take ABS collateral in its open market operations, although they do accept it at the discount window, which is inconsequential, and via the TAFs, which at a rolling $60 billion is insignificant compared with what the ECB is doing. The Fed also takes a relatively small amount of MBS backed collateral for its repo operations. Without looking directly at the numbers, I’d say the amount of MBS backed repos at any time is usually no more than $10 billion, and often not more than a few billion. The Fed is pretty tough about collateral. Their collateral rules for the TAFs require 50% overcollateralization.

    On the other hand, it would appear that the ECB is possibly financing up to a half trillion of fictitious capital. Under the circumstances the Euro is worse than trash. The USD is sound money by comparison. That could be one reason why the dollar charts are evidencing the possibility of a major bottom.

    The whole damn world is essentially insolvent. Scary.

  3. JoAnn Curbo
    April 4, 2008 at 2:41 pm

    I can not log on. What was my Password?

  4. Lee Adler
    April 4, 2008 at 3:13 pm

    To retrieve your user name and password, click the support link in the left column menu. There is a form there for password retrieval.

    It’s not a good idea to post your name and passwords on a public webpage. You may want to change your login information.

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