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Started By
Message
1
Posted on 3/18/09 at 6:02 pm to Colonel Hapablap
Just read the FOMC minutes. Those azz hats don't need to create a 'bad bank' to hold all the bs. The Fed is the bad bank.
Posted on 3/18/09 at 6:13 pm to Colonel Hapablap
quote:
The Across the Curve theorized that most of the purchases would be in the 2-5 year range, which won't affect mortgages much anyway.
Fed came out already and said 2 and 10 (link in other thread)
Posted on 3/18/09 at 6:31 pm to igoringa
I saw that, but actually doing it in the 2-5 would jawbone the 10 down and allow them to have told the truth.
Posted on 3/18/09 at 6:45 pm to Colonel Hapablap
This really has a crossing-the-Rubicon feeling to me. We've gone completely Japanese (although I'm sure amsterdam is happy).
Posted on 3/18/09 at 6:48 pm to kfizzle85
quote:
(although I'm sure amsterdam is happy).
I have a client who is a manager for a major investment house who was giddy this afternoon...think things have turned the corner and we're breaking out.
Posted on 3/18/09 at 6:50 pm to ForeLSU
Can anyone figure out what their obsession is with the 750B (or thereabouts) number. Honestly, what's wrong with, say, 775B. Just for a little diversification, so I can remember how big each program is supposed to be. Help a brotha out, BerGeit. (I just made that up)
Posted on 3/18/09 at 6:53 pm to kfizzle85
quote:
The Fed said it would double its purchase of agency debt to $200 billion. In addition, many unspecified types of assets will be included in the newest Fed credit facility, the Term Asset-Banked securities.
They really need to get more creative with the fricking names too.
Posted on 3/18/09 at 7:15 pm to kfizzle85
Yeah, if they were real biz men they would use the ol $799,950,000,000.99 Billion. We have definitely crossed the Rubicon...we are closer to Rome than the Rubicon. 
Posted on 3/18/09 at 7:44 pm to GeneralLee
quote:
Fed to buy $750 billion more of mortgage backed securities
Posted on 3/18/09 at 7:59 pm to LSURussian
quote:
LSURussian
why are you happy about this? Going to refi?
Posted on 3/18/09 at 10:21 pm to bignate76
quote:
and watch the bottom fall out of mortgage interest rates
This is EXACTLY what is going to happen and the BEST thing that could happen to the economy. We are going to get to 4.00% on 30 year mortgages, put a floor in the housing market and the economy is about to turn around. Mark it down. This current rally is going to continue and this is a real turning point.
Posted on 3/18/09 at 10:23 pm to Tiger n Miami AU83
I won't feel bad when I take your money.
Posted on 3/18/09 at 10:26 pm to Colonel Hapablap
Bring it. You will lose your arse if you are shorting. I thought bear trap after last week. It isn't. The Fed's move will make the difference this time. You're fricked if you are going to keep shorting.
Posted on 3/18/09 at 10:28 pm to Tiger n Miami AU83
I may lose money, I may not. YOU are an asshat for thinking this is a good idea.
Posted on 3/18/09 at 10:31 pm to Colonel Hapablap
You think buying the treasuries and forcing rates into the low 4's is a bad move???? You are fricking CLUELESS.
Posted on 3/18/09 at 10:31 pm to Tiger n Miami AU83
see, i don't get it. i can understand that the refi market will be booming. but, i still can't understand why anyone would be willing to buy an asset that is declining in value, at ANY interest rate.
Posted on 3/18/09 at 10:34 pm to simonizer
This is what is needed to put the floor in the housing market. It has been needed. The economy cannot recovery until home prices stop declining. This is what was needed 6 months ago.
Posted on 3/18/09 at 10:35 pm to Tiger n Miami AU83
I'm about to do a blog post on this, as it's clear that some of you don't get it.
If I issue debt and my wife offers to buy it at an above market price, guess what happens.
ETA: HOUSING PRICES NEED TO BOTTOM, THEY DON'T NEED AN ARTIFICIAL FLOOR PUT UNDER THEM.
If I issue debt and my wife offers to buy it at an above market price, guess what happens.
ETA: HOUSING PRICES NEED TO BOTTOM, THEY DON'T NEED AN ARTIFICIAL FLOOR PUT UNDER THEM.
This post was edited on 3/18/09 at 10:36 pm
Posted on 3/18/09 at 10:37 pm to Tiger n Miami AU83
quote:
This is EXACTLY what is going to happen and the BEST thing that could happen to the economy. We are going to get to 4.00% on 30 year mortgages, put a floor in the housing market and the economy is about to turn around. Mark it down. This current rally is going to continue and this is a real turning point.
What happens when they stop buying in a year?
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