Recent content by Scribe

Ben should be looking for a safe spot to make a "soft" landing in his plane with a sputtering engine. Instead he has elected to pull back as hard as possible on the yoke to try and gain altitude. Stall speed is approaching.......

Now the light bulb comes on for "The Maestro"?. Now he see the problems? Great timing since it isn't his problem anymore. I guess he forgot that he helped create most of the problems that we are now going to have clean up over the next decade or two. But it made him look good while he held...

I don't see a significant difference. Both are lending at a "penalty" (50-100bp) rate to institutions with collateral that nobody in the market will accept.

Just another completely healthy, financial sound, adequately reserved, diligent, risk averse lender asking someone for a temporary handout due to the cruel illiquid markets. Apparently all the poorly run companies have all realized they don't deserve loans and don't bother to ask.

Why is he angry?

You didn't really think that they were going to let the pizza boy next door get kicked out of his $500K home (with swimming pool) did you? The only other shelter he could afford would be a 2bed/2ba apartment with a (ugh) community pool. It just wouldn't be right!

That mentality and people like you are the problem. I say let CFC go bust AFTER they foreclose on your house. The sooner all you scammers go down in flames the better for the rest of us. Somehow I think those of us with some actual money in the bank will still be able to get a mortgage.

The discount window has a historical stigma to it because basically by using it you are announcing you cannot get cash anywhere else in the market. Therefore they keep the details secret (along with the banks CAMELS ratings, and other useful information) but provide some aggregate data. I...

The official line is that he didn't want to "tip off" the media that the fed was meeting (via teleconference) so he stuck to his scheduled dinner plans with some college students and a dean. Uh huh. Based on his recent comments I suspect he just didn't want to be involved in the "Cramer...

Acceptable collateral: # Obligations of the United States Treasury # Obligations of U.S. government agencies and government sponsored enterprises # Obligations of states or political subdivisions of the U.S. # Collateralized mortgage obligations # Asset-backed securities # Corporate...

The St. Louis Discount Rate is still at 6.25% (Primary) / 6.75% (Secondary). Funny how it was pitched as a "unanimous" vote. I guess St. Louis is giving wall street the finger. Current Discount Rates District Primary Credit Rate Secondary Credit Rate Effective Date Boston 5.75%...

Everyone is biased. Demographia definitely blames the steep increase in housing prices on government "smart-growth" policies causing land scarcity. I don't agree with that as the sole cause but it doesn't change the reality of the survey statistics they report. Which confirms what many...