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SPDR S&P 500 ETF Message Board

  • snowman4434 snowman4434 Mar 13, 2013 4:48 PM Flag

    dunrunnin2 the Fed buys stocks!

    According to data released to the public by the Fed between Sept. 15, 2008 and May 5, 2009, PDCF accepted roughly $2.18 trillion in equity securities as collateral for overnight funds, primarily from investment banks Bank of America Merrill Lynch (BAC_), Morgan Stanley (MS_), Goldman Sachs (GS_) and Barclays (BCS_).
    Yippee ki yay

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    • FED owned a chunk of AIG stocks. What more evidence does one need. the dumb running and weenie towdler are both full of b #$%$.

      • 1 Reply to idbtc
      • "FED owned a chunk of AIG stocks. What more evidence does one need."

        The Fed is The Federal Reserve. The US Treasury owned AIG shares, the Fed did not. How does it advance your argument to make completely uninformed claims like this? If you and snowman learned all you needed to know in kindergarten, then you needed to know absolutely nothing, so MISSION ACCOMPLISHED.

    • When the Fed is NOT allowed to be audited, then you ABSOLUTELY cannot assert that they must be following THE LAW, since they are immune from enforcement. Enron was required to abide by the law, also. Ditto for thousands of other "law-abiding" officials and corporations who were eventually caught.

      • 2 Replies to imuffin4
      • the Fed is making this about them front and center in the stock market. They claim they don't target asset prices for awhile and now openly admits that they believe higher asset prices is good in their book when they can't hide their intentions anymore. This isn't a transparent FED, this is a FED gone wild who thinks it can solve all economic problems with the printing machine while casting some ridiculously low inflation numbers that is so far from reality because of the components they leave out to suit their purpose. Bernanke isn't even going to be around to unwind the debt mess at the FED. He is going to work at some Wall Street firm to get his pay back.

      • And the point about Enron is especially relevant because it shows that you can APPEAR to be abiding by the law--all you have to do is come up with loopholes that allow you to go around it, which is exactly what the US Central Banking Cartel has done.

    • Perhaps you could get someone with a rudimentary command of the English language and finance to explain the difference to you between buying something and accepting that thing as collateral against a loan (in this case, an overnight loan). Have you ever, perchance, been asked to pose for a poster decrying the utter failures of the American educational system, or were you perhaps homeschooled?

      • 2 Replies to byrons_weener
      • Mr. Weener first off I am beyond sick of this topic even if it does or does not influence the price of SPY. I was just mad and posted and angry post. If I take collateral for a loan I would normally take possession of that collateral (I am not going to argue this point) and I would not have to pay interest on that collateral. The Truth is 99% of America could care less about all this. But if you ask them they will tell you they watch the news and are up to date on these important issues. Education was never meant to start or end with school. May I suggest you read "All I Really Need to Know I Learned in Kindergarten" (Not trying to be funny, totally serious.)

      • Are you unusually acerbic today or am I simply more in touch with my right brain?
        Maybe tonite you need to read the gospel to the perma pendajos? You know, get our minds right. Anyway, dumbrunnin has been hanging his professorial hat, albeit , a hat he got with his diploma that he bought for a buck, on his erroneous assumption that the Fed cannot or has not violated the ,,,, gasp,,, THE LAW!
        When in fact many in congress feel "Congress has basically abdicated its duty to control money and the monetary supply and control of our money supply as a nation over to this semi-governmental agency that’s not really governmental,” he said. “In reality, we have had no auditing. We have absolutely no idea what they’re doing over there."
        "“We see what he says, but we really have no clue how they’re managing our money across the board, how they are dealing with big banks or small community banks. We have no idea what they’re doing in creating monetary policy,” said Broun, who noted that lawmakers don’t even know how much Bernanke and other Fed officials earn in salary or receive in the way of benefits."
        But one thing is certain, should we want to get at the root of the matter all we need do is get dumbrunning together with maxine waters . Now there would be a pair to draw to.

        I know, this brogg is nothing if not loquacious.

    • The dunnrunnin act is getting rather old.
      Just ask the guy exactly what QE does,what it purchases,etc. will you ?

      • 1 Reply to acecentura
      • "The dunnrunnin act is getting rather old"
        That is his job, you do not want the poor guy to lose his job do you? Our government at work on a yahoo message board.
        Ben Quotes
        (When asked directly during a congressional hearing 2008 if the Federal Reserve would monetize U.S. government debt) "The Federal Reserve will not monetize the debt."

        (November 21, 2002) "The U.S. government has a technology, called a printing press (or today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at no cost."

        (March 28, 2007) "At this juncture, however, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained. In particular, mortgages to prime borrowers and fixed-rate mortgages to all classes of borrowers continue to perform well, with low rates of delinquency."

        (October 31, 2007) "It is not the responsibility of the Federal Reserve – nor would it be appropriate – to protect lenders and investors from the consequences of their financial decisions."

        The GSEs are adequately capitalized. They are in no danger of failing."

        (Two months before Fannie Mae and Freddie Mac collapsed and were nationalized) "They will make it through the storm."

        "We’ve been very, very clear that we will not allow inflation to rise above 2 percent."

        (June 10, 2008) "The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so."

        My favorite quote of all time is:

        "Not all information is beneficial."

        So Dunrunnin2 we simply do not believe what he say's anymore!
        “By law, we can only buy treasuries and agencies.”

    • If you are referring to the Maiden Lane portfolios, those are not stocks.

      You should also note that not all equities are stocks. Treasuries and agency securities are also equities.

      Have you read the Federal Reserve Act.

      Bernanke’s response to Senator Shelby (senate hearing 2/26/13):

      “By law, we can only buy treasuries and agencies.”

      • 1 Reply to dunrunnin2
      • it looks like a duck, it quacks like a duck, its mells like a duck, and it walks like a duck.. and your argument is not all ducks are the same ??.. that is how the work around by the FED ???

        Definition: An equity security investment generally refers to the buying and holding of shares of stock on a stock market by individuals and firms in anticipation of income from dividends and capital gains, as the value of the stock rises.

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