Buried Deep Within The Files That The Federal Reserve Released On Thier MBS Purchase Program, We Found TARP 2.0!!! More Taxpayer Money To The Banks!

Reggie Middleton's picture

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Lady Heather...UNCLE's picture

I apologise if the following question appears ignorant but... "How is the Fed purchasing toxic assets off banks an instance of taxpayer money being used?" The Fed is not a federal body after all. I can see that the taxpayer suffers as a result of the programme since money supply is inflated and hence it is a form of indirect taxation (inflation)...what am I missing? Wiser heads assistance is  greatly appreciated.

honestann's picture

Every time the FederalReserve creates $1-trillion dollars they reduce the value of the holdings of citizens [and all other dollar holders] by $1-trillion dollars.  Presumably most dollar holders are taxpayers.

Confuchius's picture

Absolutely the best ever, Reggie!!

 

Confuchius

Drag Racer's picture

Thank you for the extra work on this one. Great job.

ATG's picture

Reggie for Fed Chair

Trailer Trash's picture

Reggie, You're the man!  Excellent research as always.  We at the ZH community are fortunate to be provided with your fine analysis. 

GottaBKiddn's picture

Great work, as usual Reggie. Thanks for all your diligence. Even though too few of us are listening, it sure is nice to hear someone put some of that "chicken roosting" residue on they bald head where it belongs.

reload's picture

Absolutely top motch as ever. Big Thanks for sharing.

honestann's picture

Good work, Reggie.

The Rogue Trader's picture

As always, thank you Reggie...

DOT's picture

Did someone say heteroskedasticity ?  How in hell did the Fed com up with the pricing ? The ratio of hair to warts on last night's hooker's back ?

littlebuddy's picture

THAT is awesome. hair to warts. goddamnit, i hope to remember that one forever, but, yeah, reg, you're the best...i mean...wow....

think ima go find some silver...

beastie's picture

"The ratio of hair to warts on last night's hooker's back ?"

That's a keeper.

SwingForce's picture

That "settlement" with PIMCO et al is only if they do it before 12/18 which is the end of the 60 day notice that the PIMCO letter served. 12/19=The Real Shitstorm.  

http://www.ritholtz.com/blog/2010/10/full-text-of-letter-to-bofa-from-ny-fed-maiden-lane-freddie-mac-pimco-western-asset-mgmt-neuberger-berman-kore-advisors/

optimator's picture

I don't care about any of that as long as they don't let any of the  Banksters out of the country before trial.  Freeze their passports (including the ones from that other country be they dual 'citizens') and their personal assetts.  Oh, and don 't shorten the trials, we want full access to all the crimes in detail.

Millivanilli's picture

The coup is over.  Only a handful of Americans understand what happened...

onlooker's picture

Well written. The explanation of terms in your text is invaluable and the understandability is good. For the less than sophisticated reader like me, the message looses effectiveness if it is written in a complex texture. I am not saying the subject is easy or simple, but your presentation of it makes it more understandable. I hope you can keep at it; there is an absolute void for many of us to understandable access of information.

Threeggg's picture

OMG someone with rational and clear thought.

Great write - up and interview Reggie.

Question:

Is dancing with the starz on tonight. ?

beastie's picture

"Deutsche Bank with $411bn of trade volume, had the highest MBS transaction value"

The funny thing is, based on my personal observations, via realtytrac.com Deutsche Bank was more than willing to take a 50% haircut on their holdings. Some zip codes allow you to look at the mortgage data behind individual properties.

Well it's not funny really

 

Vendetta's picture

good job Reggie, as always

jus_lite_reading's picture

Thanks Reg but unless your name is Jim Kramer and you're on CNBS, no one gives a shit... get it?

merehuman's picture

Thank you, Mr Reggie. Well done. And WE notice at Zero Hedge

shushup's picture

Great info Reggie. Thanks

DavidRicardo's picture

You're finally getting around to digging through the data to see that I am right: there will be $70 trillion in bailouts.

DaveyJones's picture

the only law being practiced in this country is criminal. I didn't think I could get more pissed off. I'm having gyros tonight.

dumpster's picture

whats this being robbed.? they have long ago put the gun to the head,

now they are after the scraps....

the gang of pundits and lap top junkies have cowered in the Keynesian corner for so long ,, most have not a pot to pizz in .

and then on top of that this board is infected with those who would dish the gold silver movement ,

still time to protect some assets get off the grid ,, gold silver.. 

the banks and fed are base criminal outfits .. all after those last scraps