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(1) For what the Fed holds: http://www.newyorkfed.org/markets/soma/sysopen_accholdings.html Look under the 'agency' tab. It's listed by CUSIP. I'm not sure how hard you looked for this, but SOMA holdings have been available since day one. (2) Bernanke's rationale for QE purchases is...

It's interesting that your ghost (in the shell... very nice) is the least fleshed out part of your project.

I'm sorry, but this sentence doesn't make any sense to me at all. Make money expensive is pretty freaking simple for the Fed, no? In this context, I don't see what the cart is, what the horse is, and why one needs to be in front of the other.

Um.... all that other 'stuff' being MBS, which the fed managed to buy at pretty a hefty discount. Buying a security for cash isn't exactly 'given as cash to banks outright'. If the Fed were a fund, they probably would have been considered as a pretty impressive investor. That MBS portfolios...

When the fed adds security, say treasury bills to its balance sheet, it pays the counter party in cash for the security, thereby expanding the money supply. So the expansion of the money supply is obvious. If it doesn't roll, then the redemption is equivalent to taking cash out of the money...

Maybe I don't understand where you are coming from... but why couldn't the fed do the usual moves to tighten? Once it's redeemed and becomes cash, it's pretty simple, no?

Why would they unwind those assets? Those are bond-like; They will eventually mature or be redeemed.

I should also point out that all MBS bought by the fed were 'agency' (http://www.newyorkfed.org/markets/ambs/). There's none of that no-doc junk crap in those collateral pools. Attachment point is the percent loss that a collateral pool must take before the tranche is hit; detachment point...

As it turns out, I have indeed worked in this space; I traded credit and mortgage some time back. "Fed collateral process"? Isn't that the terminology for fed's discount window rather than the asset purchasing programs? Wait, perhaps you meant the assets that can be pledged are crap...

.... attachment and detachment points in the collateral pool as well as the quality of the pool itself. It's amusing that ET is both cynical, ignorant, and entirely nihilistic.

What are those things around the header? blurred coins?

It's the former, not the latter. I'm sorry but perhaps you actually want to read about TARP, QE, and the actual various programs that the Fed put through before trying to go on cynical and baseless rant.

They didn't. They bought very high quality stuff. Banks either write off or spun off the crap.

(1) mbs is actively traded in the open market, much like stocks. (2) the fed bought pretty high quality papers, not the toxic junk. they most likely posted gains to the treasury from the carry and redemption. (you are probably not looking for facts though; I understand you are here to rant?)

I'll give it a shot; I've walked by it many times without going in. Incidentally, Kein's tonight; I'm going to get my mutton chop.

It's in brooklyn now right? It's a little out of my way, but one of these days I'll get to it. Although, I'm not impressed by their 'gimmick'; Alton Brown and the guys over at seriouseats demonstrated pretty conclusively that 'sealing in the juice' isn't valid.

Yeah... that's really strange to me too. I didn't like the 5 Napkin burger I got... soggy... and tasteless. And I can't stand shake shack... totally overrated. I maintain the breslin has the best burger in the city, but I'm open to challenges since the result is finding an even tastier burger.

... hang on there buddy... better than Butcher & Singer? Better than B' Prime? I personally don't like Barclay Prime as much as most people, but I actually like Butcher & Singer a lot... and both, I think, serve a better steak than the Palm. But I should get something non-steak at the Palm...

How did that happen?? It's usually around $40... $65 is enough to get home from JFK.

I gotta agree with this guy, surf; I'm horribly underwhelmed by the palm (both in philly and in nyc).... And white castle is awesome. I don't care what anyone says.