Lacker's Critique of Fed Policy; CFPB's Annual Report; Bank Auditors are People Too!

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Posted To: Pipeline Press

While you're dining on turkey and watching football tomorrow (maybe not in that order) remember this touching story . Folks continue to wonder about the Fed's program in buying and holding U.S. government securities AND agency mortgage-backed securities : issuing them from one department and buying them in another. I received this note: "I have to assume that the Fed is continuing to buy newly issued Treasury securities because otherwise the Treasury would now have to pay substantially higher rates to induce buyers, and such higher rates don't seem to be being paid. But it is very strange that no mention of the continuation of this bond-buying program can be found anywhere, only articles on Operation Twist. It seems to me that we are witnessing the most enormous legalized counterfeiting operation...(read more)

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Source: www.mortgagenewsdaily.com

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