tag:blogger.com,1999:blog-2948538160252327076.post178377055230492177..comments2023-11-02T15:48:50.381+00:00Comments on UK Bubble UK Economy: The central banks are at it againAlice Cookhttp://www.blogger.com/profile/05753570123987780947noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-2948538160252327076.post-81101324179321347532008-03-12T20:27:00.000+00:002008-03-12T20:27:00.000+00:00There's one stat I would love to know from the NR ...There's one stat I would love to know from the NR saga. That is the difference between the sum the council housing stock have been sold off at and the what they have been repurchased via the nationalisation of the Rock. I'm not sure Brown/Darling are likely to release that sort of info tho..<BR/><BR/>ChefdaveAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-30344252659432454692008-03-12T09:57:00.000+00:002008-03-12T09:57:00.000+00:00Ghostwriter, you beat me by a minute! The Fed isn'...Ghostwriter, you beat me by a minute! The Fed isn't giving cash, it's giving treasuries. It's an asset swap to change the composition of the banks' balance sheets to delay forced selling. It's not inflationary. It won't work. And it will be rolled over many times following the so-called 28-day limit.<BR/><BR/>NickAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-44366129035095036662008-03-12T09:55:00.000+00:002008-03-12T09:55:00.000+00:00The central banks are becoming Wall Street's pawnb...The central banks are becoming Wall Street's pawnbrokers. The facility is $200bn because that's how much agency paper the prime brokers hold. So by swapping all this junk for treasuries it prevents the banks from suffering margin calls, for now, and further postpones the mass sell-off.<BR/><BR/>It doesn't come anywhere near fixing the problem though. The great leverage unwind is upon us and nothing will stop it. This is the phase where we learn cash and credit are two different beasts.<BR/><BR/>NickAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-85233180760838326082008-03-12T09:54:00.000+00:002008-03-12T09:54:00.000+00:00The Fed is essentially saying to the banks: give u...The Fed is essentially saying to the banks: give us your crap securities (which are now unable to be valued) as collateral and we will give you cash for them now. The Fed does not have to worry about whether these securities will ever recover any of their wortrh. They are taking the insolvency problem away from the banks. It's the biggest "Get Out of Jail Free" card ever. I'm not clairvoyant, so I can't say what kind of repercussions this operation will have--but the Fed has likely saved Wall Street with this. It will not stop the housing crash, however.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-91299965356759517742008-03-11T18:03:00.000+00:002008-03-11T18:03:00.000+00:00Monster rally on Wall Street: they refuse to let t...Monster rally on Wall Street: they refuse to let the patient go naturally. The corpse already stinks. "Fie, fie, tis an unweeded garden that grows to seed. Things rank and gross in nature possess it merely."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-35991268765150227742008-03-11T14:32:00.000+00:002008-03-11T14:32:00.000+00:00I wish someone would give me a liquidity injection...I wish someone would give me a liquidity injection. Do you think if I offered the BoE some collateral, they would give me some cash?The Real Lizzyhttps://www.blogger.com/profile/06414954765158748135noreply@blogger.comtag:blogger.com,1999:blog-2948538160252327076.post-71999092690355166762008-03-11T14:28:00.000+00:002008-03-11T14:28:00.000+00:00While reading your article, I couldn't get the fac...While reading your article, I couldn't get the face of Tony Benn out of my mind. He was signing,<BR/><BR/>"Socialism, Socialism, nah, nah, n-n-n nah"<BR/><BR/>Lets keep this nationalization thing going. After housing, lets move onto utilities, railways, and coal mines.Anonymousnoreply@blogger.com