hypocritexposer
Well-known member
At the center of the plan, which administration officials are referring to as a "white paper," is a move to remake powers of the Federal Reserve to oversee the biggest financial players, give the government the power to unwind and break up systemically important companies -- much like the Federal Deposit Insurance Corp. does with failed banks -- and create a new regulator for consumer-oriented financial products, according to people involved in the process.
Some of the other positives, that the FED has been involved with in the past.
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Administrative removal of Rule 23A restrictions from certain “favored” banks (Spring 2007)
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The (Selectively Leaked) Shock and Awe Discount Rate Cut on Options Expiration (August 2007)
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The Bank Super SIV (Failed, October 2007)
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The Fed Term Auction Facility (December 2007)
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Bear Stearns/JP Morgan bailout and subsidy (March 2008)
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325 basis points of rate cuts in less than six months and unprecedented additions of liquidity to defend them (Fall 2007 – Spring 2008, ultimately going to zero)
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Primary Dealer Credit Facility (March 2008)
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Reverse MBS Swaps (April 2008)
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Fannie Mae/Freddie Mac nationalization (September 2008)
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Equity investment and collateral (September 2008)
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Administrative Repeal of 23A (September 2008)
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AIG nationalization (September 2008)
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Expansion of the Fed Balance Sheet through unprecedented Treasury refinance without appropriation by Congress (September 2008)
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Central bank dollar liquidity draws (September 2008)
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Ban on short-selling 799 financial stocks (September 2008)
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The Mother-of-all-Bailouts/Taxpayer-funded Super SIV Redux (October 2008)
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Quantitative Easing, said to hold mortgage rates at or near 4% - another failure - rates actually rose (March - Present, 2009)
http://market-ticker.denninger.net/archives/1120-They-Really-Are-That-Dumb-Department.html