Just in case yesterday's $3.9 billion reliquification was insufficient, here is Mr. Sack's third market intervention of the week. The Fed has just announced it will monetize bonds with a maturity between 2012 and 2013. We expect today's action to be slightly less than yesterday's QE Lite total: probably enough to push stocks just 0.3-0.5% higher on the day. Assuming Basel III encouraged leverage of 30x, this means around $2.5 billion in new taxpayer money will be handed over to the Primary Dealers to rape and pillage the shorts. We will bring you the POMO results once they are available at the usual time of 11am Eastern.