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!

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Thu, 12/16/2010 - 17:58 | 812585 Lady Heather...UNCLE
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.

Thu, 12/16/2010 - 19:00 | 812719 honestann
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.

Thu, 12/16/2010 - 17:33 | 812494 Confuchius
Confuchius's picture

Absolutely the best ever, Reggie!!

 

Confuchius

Thu, 12/16/2010 - 17:31 | 812486 Drag Racer
Drag Racer's picture

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

Thu, 12/16/2010 - 17:29 | 812479 ATG
ATG's picture

Reggie for Fed Chair

Thu, 12/16/2010 - 17:21 | 812448 Trailer Trash
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. 

Thu, 12/16/2010 - 16:56 | 812373 GottaBKiddn
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.

Thu, 12/16/2010 - 16:53 | 812362 reload
reload's picture

Absolutely top motch as ever. Big Thanks for sharing.

Thu, 12/16/2010 - 16:41 | 812338 honestann
honestann's picture

Good work, Reggie.

Thu, 12/16/2010 - 16:19 | 812274 The Rogue Trader
The Rogue Trader's picture

As always, thank you Reggie...

Thu, 12/16/2010 - 16:16 | 812261 DOT
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 ?

Thu, 12/16/2010 - 16:32 | 812308 littlebuddy
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...

Thu, 12/16/2010 - 16:18 | 812271 beastie
beastie's picture

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

That's a keeper.

Thu, 12/16/2010 - 16:16 | 812258 DOT
DOT's picture

Dupe

Thu, 12/16/2010 - 16:13 | 812254 George Washington
George Washington's picture

Go, Reggie, Go!

Thu, 12/16/2010 - 16:14 | 812246 SwingForce
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/

Thu, 12/16/2010 - 16:06 | 812228 optimator
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.

Thu, 12/16/2010 - 15:57 | 812206 Millivanilli
Millivanilli's picture

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

Thu, 12/16/2010 - 15:50 | 812192 onlooker
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.

Thu, 12/16/2010 - 15:43 | 812173 Threeggg
Threeggg's picture

OMG someone with rational and clear thought.

Great write - up and interview Reggie.

Question:

Is dancing with the starz on tonight. ?

Thu, 12/16/2010 - 15:43 | 812171 Triggernometry
Triggernometry's picture

Financial Atrocity

Thu, 12/16/2010 - 15:40 | 812163 beastie
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

 

Thu, 12/16/2010 - 15:36 | 812153 Vendetta
Vendetta's picture

good job Reggie, as always

Thu, 12/16/2010 - 15:33 | 812142 jus_lite_reading
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?

Thu, 12/16/2010 - 15:44 | 812175 merehuman
merehuman's picture

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

Thu, 12/16/2010 - 15:27 | 812120 I am a Man I am...
I am a Man I am Forty's picture

good interview reggie

Thu, 12/16/2010 - 15:23 | 812108 shushup
shushup's picture

Great info Reggie. Thanks

Thu, 12/16/2010 - 15:12 | 812086 DavidRicardo
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.

Thu, 12/16/2010 - 16:43 | 812342 4xaddict
4xaddict's picture

+1

Thu, 12/16/2010 - 15:22 | 812105 66Sexy
66Sexy's picture

we are being robbed

Thu, 12/16/2010 - 15:50 | 812178 DaveyJones
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.

Thu, 12/16/2010 - 15:30 | 812133 dumpster
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

 

 

 

 

 

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