Monthly Archives: June 2008

Source FRB: Federal Reserve The problem with the Feds acting as back stop for the junk paper dealers is that now almost half of the Fed vault is full of junk. In just the past 12 months, Fed holdings have … Continue reading →

Lately the antics of traders racing back and forth between oil and the US dollar have been particularly schizophrenic. Each morning brings a brand new vote as capital floods out of the dollar and into oil, or back to oil … Continue reading →

“Accounting changes could force US banks to take thousands of billions of dollars back on to their balance sheets in the coming months in a move that is likely to curb further their lending and could push them into new … Continue reading →