Video - April 2, 2011
Lindsey should have changed 'but' to 'especially':
War-mongering, speech-limiting, bailout-loving Senatorial troll...
Excellent short report. Watch this one.
March 31 (Bloomberg) -- Bloomberg reporter Bob Ivry discusses the release of the Federal Reserve's discount-window lending records and Goldman Sachs Group Inc.'s borrowing history.
Fukushima Daiichi Nuclear Plant Hi-Res Photos
Video: Billionaire banker Lloyd Blankfein is the subject of Wall Street's most famous painter, so what would you say to the CEO of Goldman Sachs?
April 1 (Bloomberg) -- Nouriel Roubini, the New York University economist who predicted the financial crisis, talks about the outlook for monetary policy by the Federal Reserve and the European Central Bank. He speaks from Cernobbio, Italy, with Maryam Nemazee on Bloomberg Television's "The Pulse."
Video - April 1, 2011
(Bloomberg) -- Federal Reserve Bank of Kansas City President Thomas Hoenig talks about the central bank's quantitative easing strategy. Hoenig, speaking in London with Maryam Nemazee on Bloomberg Television's "The Pulse," also discusses the Fed's lending during the financial crisis, the U.S. job market and banking regulations.
Outstanding discussion - watch at least the first few minutes of this.
April 1 (Bloomberg) -- Matthew Winkler, editor-in-chief of Bloomberg News, talks about the Federal Reserve's release yesterday of thousands of pages of secret loan documents under court order, almost three years after Bloomberg LP first requested details of the central bank’s unprecedented support to banks during the financial crisis. Winkler speaks with Tom Keene.
At the height of the financial crisis, the Federal Reserve allowed the world’s largest banks to turn more than $118 billion in junk bonds, defaulted debt, securities of unknown ratings and stocks into cash.
Collateral of those asset types made up 72 percent of the total $164.3 billion in market-rate securities pledged to the Fed on Sept. 29, 2008, two weeks after the bankruptcy of Lehman Brothers Holdings Inc., according to documents released yesterday. The collateral backed $155.7 billion in loans on the largest day of borrowing from the Primary Dealer Credit Facility, which was created in March 2008 to provide loans to brokers as Bear Stearns Cos. collapsed.
The cushion “was far too small for the risk of the underlying collateral,” Pirrong said. “Collateral that’s junk or defaulted debt and equities at a time when market volatility was huge is pretty eye opening.”
Morgan Stanley (MS) was the largest borrower on Sept. 29, 2008, totaling $61.3 billion, the data show. The New York-based firm pledged $66.5 billion in collateral, including $21.5 billion in equities, $19.4 billion in unknown rated securities and $6.7 billion in junk or defaulted debt.
Merrill Lynch was next, with a $36.3 billion loan. Its $39.1 billion in collateral included $23.3 billion in equities, $6.3 billion in unknown rated securities and $3 billion in junk or defaulted bonds.
For anyone who missed this the first time around.
This is not easy to watch. It happens at the 1-minute mark. At high speed Neis hits more than 40 cyclists who are part of a Critical Mass bike ride.
Apr 4, 2011 at 12:44 PM
