By Alex J. Pollock & Paul H. Kupiec
Mortgage-backed securities will continue racking up billions of dollars in cash losses each month.
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By Alex J. Pollock & Paul H. Kupiec
Mortgage-backed securities will continue racking up billions of dollars in cash losses each month.
- Milton Friedman
DOGE will be the most ironic case study.
As much as I find DOGE entertaining, it did strike me as ridiculously redundant that it got appointed two leaders, and we already have the GAO which sounds like pretty much the same thing
I am strongly considering applying to work for DOGE. It seems like a very fun assignment and I don't know how many of our colleagues would want to do it.
Remember me when you become Elon's right hand man
I'd rather hitch my wagon to Vivek.
Lol that the GAO does anything at all. If it did, there wouldn't be a deficit.
I dont know why elon musk keeps associating himself with doge.
It would be pretty hard to distance himself from it. I suspect he just thinks it's funny.
Wouldnt it be better to cement his legacy and work on a bitcoin initiative?
I think so, but I'm also not the riches man in the world.
I gathered from previous communications the though doge coin was a joke meme sort of thing. Then he made money on it.
I think he took it up as a joke, not thinking it would lead to anything.
BTW, does he have dogs, perhaps shiba-ion?
wait how long will this happen?
For decades I suppose.
Until they can unwind those "investments" without tanking the economy.
I'm sure that is their plan. I wonder how often that actual happens.
The FED knew, when it was buying those MBS that they were fraudulent. They bought them after they had been exposed as nothing but amalgamated garbage. They knew that the rating agencies gave them bogus ratings. Already Bear-Sterns and Lehman Brothers were selling them as fast as they could.
The mortgage loans that were backing the security were, at best, sub-prime and they knew it because they were supervising the banking investments.
They bought them to bail the banksters out. Now they have to deal with the aftermath of their bad decision to make the banks TOO BIG TO FAIL.
The FED should fail, too!
I thought it was going to be a bigger problem at the time, but I'm not surprised it's lingering.
Yeah, there is no way they want to take a half-trillion dollar loss on the books!
There is not enough space in the cells for such numbers!
Why don’t we apply Warren’s marked to market methods of assessing the value of current assets? We could break the FED right now! It would go bankrupt and we would be done with it because it is a private organization.
terrible