what happened? Did someone actually read the ISM report ? The ISm report was horrible we should not have even been up 65 points, we should of been down 500 points.
Funny thing, the FED is worth 55 billion. A few weeks ago they took a 2.8% haircut on their investments in one day. There total investments are 3 trillion dollars. The FED lost 57 billion. They lost all the equity to the bank and it has remained there for several weeks.
I personally see the FED falling apart. They are running muiltiple sets of books with muiltiple profit and losses. Bottom line there balance sheet is negative 2 billion and they have purchased a whole lot of bad loans. My next question is who authorized this?