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Fed Boosts Cash Auctions to $900 Billion, May Do More
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Omega 
Total Unequivocal Bad Fuckin' News
User ID: 340280
10/6/2008 9:51 AM
Report abusive post | Fed Boosts Cash Auctions to $900 Billion, May Do More
| Quote |
WTF??? Who's running scared now eh Helicopter Ben??? Jeez these guys are pulling out all the stops.......
Fed Boosts Cash Auctions to $900 Billion, May Do More (Update1)
By Scott Lanman
Enlarge Image/Details
Oct. 6 (Bloomberg) -- The Federal Reserve will double its auctions of cash to banks to as much as $900 billion and is considering further steps to unfreeze short-term lending markets as the credit crunch deepens.
``The Federal Reserve stands ready to take additional measures as necessary to foster liquid money-market conditions,'' the central bank said in a statement released in Washington today. Fed and Treasury officials are ``consulting with market participants on ways to provide additional support for term unsecured funding markets,'' the statement said.
As part of today's steps, the Fed will increase its auctions under the 28-day and 84-day Term Auction Facility operations to $150 billion each. The two forward TAF auctions in November will be increased to $150 billion each, the Fed said.
The central bank will also begin paying interest on bank reserves. Payments on required reserves will be made at the average targeted federal funds rate established by the Federal Open Market Committee over each reserve maintenance period less 10 basis points.
The Fed gained the authority to pay interest on reserves under the $700 billion financial-rescue legislation approved last week.
In a separate statement, the U.S. Treasury said it is considering changes to its debt issuance, including a reintroduction of three-year notes. Any changes will be released at the department's quarterly refunding announcement Nov. 5.
The Treasury also said today that some cash-management bills may be ``longer-dated.'' The expansion in debt sales is needed to ``allow Treasury to adequately respond to the near-term increase in borrowing requirements,'' the department said in the statement released in Washington.
Treasury officials last month started a special program of bill auctions to help the Fed expand its balance sheet.
To contact the reporter on this story: Scott Lanman in New York at slanman@bloomberg.net
Yahoo IM omega375hh |
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Only Me
The Strawberry Girl
User ID: 239124
10/6/2008 9:52 AM
 | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
Man is least himself when he talks in his own person. Give him a mask, and he will tell you the truth.
~ Oscar Wilde ~
-------------------------------------
And when the day arrives
I'll become the sky
And I'll become the sea
And the sea will come to kiss me
For I am going
Home
Nothing can stop me now |
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Omega
Total Unequivocal Bad Fuckin' News
User ID: 340280
10/6/2008 9:54 AM
| | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
Ummmm.....no shit. LMAO...
Yahoo IM omega375hh |
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Only Me
The Strawberry Girl
User ID: 239124
10/6/2008 9:55 AM
| | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
Ummmm.....no shit. LMAO... Quoting: Omega
LOL!!! bite me
Man is least himself when he talks in his own person. Give him a mask, and he will tell you the truth.
~ Oscar Wilde ~
-------------------------------------
And when the day arrives
I'll become the sky
And I'll become the sea
And the sea will come to kiss me
For I am going
Home
Nothing can stop me now |
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maya2012
User ID: 407782
10/6/2008 9:56 AM | |
Omega
Total Unequivocal Bad Fuckin' News
User ID: 340280
10/6/2008 10:00 AM
| | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
WTF happened to the 630 billion injected last Monday??? Poof!!!!
These guys are gonna cut .75 basis points probably today in a last gasp attempt at a stick save......
Yahoo IM omega375hh |
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R...
User ID: 490829
10/6/2008 10:00 AM | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
I don't get it(I'm not much an economical/mathematical wonder)
Does this mean FED pumps $900 billion cash in the market?! or what? |
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Anonymous Coward
User ID: 341282
10/6/2008 10:02 AM | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
ONLY A FALSE FLAG CAN SAVE US NOW |
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Omega
Total Unequivocal Bad Fuckin' News
User ID: 340280
10/6/2008 10:03 AM
| | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
I don't get it(I'm not much an economical/mathematical wonder)
Does this mean FED pumps $900 billion cash in the market?! or what? Quoting: R...
That means everyone and their momma can pony up to the TAF window and exchange shit paper for money (a loan)with a promise to pay it back at some future day-28 days I think altho I remember they extended that...
THEY ARE ALL INSOLVENT!!!!!!!!! How the FUCK are they gonna pay it back?????
It's a trick to push the crash post elections....
Yahoo IM omega375hh |
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maya2012
User ID: 407782
10/6/2008 10:03 AM | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
WTF happened to the 630 billion injected last Monday??? Poof!!!!
These guys are gonna cut .75 basis points probably today in a last gasp attempt at a stick save...... Quoting: Omega
yup.
...and we still have to pay it all back, plus interest to the Fed, who's laughing their asses off at how the politicians sided against us, THE PEOPLE.
To everyone:
Don't forget to vote AGAINST EVERYONE who voted FOR the bailoiut this November, including McCAIN and OBAMA!!!
Are you ready to go home to 5-D Earth?
[link to www.youtube.com]
Banking Collapse Announces the Beginning of the Golden Age
[link to www.youtube.com]
MySpace Page: [link to www.myspace.com] |
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yourwaysucks
make it so
User ID: 505009
10/6/2008 10:03 AM
 | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
woooooowwww....... this is nuts. don't you think a rate cut would just freak everyone out by this point though?
"If I want to be free from any other man's dictation, I must understand that I can have no other man under my control." -- William Graham Sumner
"A government that is big enough to give you all you want is big enough to take everything you have." -- Barry Goldwater
"The government is good at one thing: It knows how to break your legs, then hand you a crutch and say, 'See, if it weren't for the government you wouldn't be able to walk.'" -- Harry Browne |
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tomorrow
We Are Here
User ID: 518005
10/6/2008 10:05 AM
 | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
Broke 10,000 |
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.
User ID: 518694
10/6/2008 10:05 AM | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
Omega, is the Fed and US gov involved in derivatives?
as far as i am aware Chinese gov and banks are not.
Please confirm if possible. |
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Anonymous Coward
User ID: 513288
10/6/2008 10:08 AM | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
 
its over. time to accept our fate. |
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R...
User ID: 490829
10/6/2008 10:10 AM | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
I don't get it(I'm not much an economical/mathematical wonder)
Does this mean FED pumps $900 billion cash in the market?! or what?
That means everyone and their momma can pony up to the TAF window and exchange shit paper for money (a loan)with a promise to pay it back at some future day-28 days I think altho I remember they extended that...
THEY ARE ALL INSOLVENT!!!!!!!!! How the FUCK are they gonna pay it back?????
It's a trick to push the crash post elections.... Quoting: Omega |
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Only Me
The Strawberry Girl
User ID: 239124
10/6/2008 10:17 AM
| | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
its over. time to accept our fate. Quoting: Anonymous Coward 513288
Man is least himself when he talks in his own person. Give him a mask, and he will tell you the truth.
~ Oscar Wilde ~
-------------------------------------
And when the day arrives
I'll become the sky
And I'll become the sea
And the sea will come to kiss me
For I am going
Home
Nothing can stop me now |
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Anonymous Coward
User ID: 513288
10/6/2008 10:29 AM | |
Omega
Total Unequivocal Bad Fuckin' News
User ID: 340280
10/6/2008 10:36 AM
| | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
Omega, is the Fed and US gov involved in derivatives?
as far as i am aware Chinese gov and banks are not.
Please confirm if possible. Quoting: . 518694
When the Fed Nationalized Fannie and Freddie they assumed the derivative swaps which actually are being auctioned today. I don't know how thats going yet as I am at work and busy, if I find anything I'll post it here, or some of you peeps can get busy and find the info please.....
Yahoo IM omega375hh |
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Omega
Total Unequivocal Bad Fuckin' News
User ID: 340280
10/6/2008 10:40 AM
| | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
WOW clean break through 10,000. Fuck an A.... 
Yahoo IM omega375hh |
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Redheaded Stepchild
User ID: 493346
10/6/2008 10:41 AM
 | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
I was watching the Asian markets last night, and I found myself so exhausted I went to bed BEFORE midnite. This night owl couldn't hang. Then I dreamt all night of running from fascist military forces.
The DJI is at -448 at this instant.
I am pooped.
"I want you to go to the window, open it, stick your head out and yell: 'I'm as mad as hell, and I'm not going to take this anymore.'"
-Howard Beale (Peter Finch), Network
“Until you are willing to organize your friends and neighbors and literally shut down cities - drive at 5mph through the streets of major cities on the freeway and stop commerce, refuse to show up for work, refuse to borrow and spend more than you make, show up in Washington DC with a million of your neighbors and literally shut down The Capitol you WILL be bent over the table on a daily basis. “Karl Denninger
Don't blame me; I voted for Ron Paul.
Silence is consent. |
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Anonymous Coward
User ID: 518497
10/6/2008 10:42 AM | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
holy shit -500 |
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Anonymous Coward
User ID: 513288
10/6/2008 10:47 AM | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
TO at -936.77 |
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Anonymous Coward
User ID: 492746
10/6/2008 10:52 AM | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
don't forget about the $$$ for the war effort
that went under the radar last week....
another $650 billion wasn't it ?
today's $900 billion
equals $1.55 Trillion (don't forget day before 911 it was announced that $2 Trillion dollars were missing
from the Pentagon)
and derivatives estimated at a high value of $56 Trillion(?)
that is assuming no mark to market (if we do assume we get the correction that
Omega and all have been banging on about for ages)
Got Popcorn ? |
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Omega
Total Unequivocal Bad Fuckin' News
User ID: 340280
10/6/2008 10:55 AM
| | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
They are gonna try and stop it out on the DOW at 9800. Lets see what they really got.....
Yahoo IM omega375hh |
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Anonymous Coward
User ID: 234226
10/6/2008 10:55 AM | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
omega
since 535 seems 2 like u, have u heard from him, or do you think he is holed up or working somewhere?? im interested in what u think or have to do with this dude.
he kinda freaks me out now that i reread some of his stuff and the dates.
what say u? |
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Omega
Total Unequivocal Bad Fuckin' News
User ID: 340280
10/6/2008 10:58 AM
| | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
LMAO. Too late fuckers.
[link to www.treas.gov]
October 6, 2008
HP-1177
Statement by the President’s Working Group on Financial Markets
Washington, DC-- The President's Working Group on Financial Markets issued the following statement today:
Conditions in U.S. and global financial markets remain extremely strained. The President's Working Group on Financial Markets (PWG) is working with market participants and regulators globally to address the current challenges and restore confidence and stability to financial markets around the world.
With the passage of the Emergency Economic Stabilization Act of 2008 (EESA), Congress has granted important new authorities to the Treasury, Federal Reserve, and the FDIC. These new authorities will be employed in conjunction with existing authorities to restore market confidence by strengthening the balance sheets of financial intermediaries and improving overall market functioning.
The diversity of institutions and markets under stress, and the magnitude and complexity of the adjustment underway, requires that the tools available to policymakers, regulators and supervisors be used in forceful and coordinated ways across regulatory and supervisory agencies in the United States and throughout the world. This will involve moving with substantial force on a number of fronts. These broad initiatives are outlined below.
Strengthening Financial Institutions
The Treasury Department will move rapidly to implement the new authorities in EESA to help strengthen financial institutions that are struggling with troubled assets and/or need to raise capital. It will be done in a transparent and methodical fashion. In the coming days, Treasury will work with the Federal Reserve and other financial regulators to develop strategies that deploy these tools to maximize their effectiveness in strengthening the financial system while protecting the taxpayers' interests.
The new legislation adds broad, flexible authorities to allow Treasury to buy troubled assets and provide guarantees, and address capital raising. The new legislation also enables Treasury to directly strengthen the balance sheet of individual institutions. These authorities allow Treasury to act to remove some of the uncertainty regarding financial strength, and provide financial institutions with greater operating flexibility and enhance their ability to raise additional capital in the private marketplace.
FDIC Stand-alone Assistance
The FDIC has broad powers to protect depositors and mitigate instability in our banking system. In addition to the coverage that it provides to insured deposits, the FDIC has the ability to use its insurance fund and its substantial lines of credit with the Treasury to address the risk to the financial system posed by the possible failure of a bank.
As the regulatory community confronted the risks posed by a potential failure of Wachovia Corporation, the Board of the FDIC, the Board of Governors of the Federal Reserve System, and the Secretary of the Treasury in consultation with the President determined that they should invoke the systemic risk exception to the traditional bank resolution process.
We will work together in the future where similar approaches are necessary for the stability of the financial system.
When systemic risk determinations are necessary and appropriate in the future, the FDIC will use its authority and its resources, on an open or closed-bank basis, to protect depositors, guarantee liabilities, facilitate orderly wind downs, mergers, or adopt other stabilizing measures.
Increasing Liquidity to Financial Markets
With regard to liquidity, the Federal Reserve has introduced a series of innovative facilities and policies to enhance liquidity in our markets. These include the Term Auction Facility, Primary Dealer Credit Facility, Term Securities Lending Facility, and Currency swaps.
The Federal Reserve will continue to take a leadership role with respect to liquidity in our markets. It is committed to using all of the tools at its disposal to provide the increased liquidity that is now required for the effective functioning of financial markets. In this regard, the authority to pay interest on reserves that was provided by EESA is essential, because it allows the Federal Reserve to expand its balance sheet as necessary to support financial stability while conducting a monetary policy that promotes the Federal Reserve's macroeconomic objectives of maximum employment and stable prices.
The Federal Reserve and the Treasury Department are consulting with market participants on ways to provide additional support for term unsecured funding markets.
Cash / Money Markets
Bank deposits and money markets funds play an important role in the savings and investing of Americans. These savings and investment vehicles are critical to investor confidence. They also provide funds for financing activity that is so critically important to our credit markets.
Last month, the Treasury Department announced a temporary guarantee program for money market mutual funds. That program began operations last Monday. This action was complemented by the Federal Reserve providing additional liquidity to money market mutual funds with their Asset Backed Commercial Paper (ABCP) Money Market Mutual Fund (MMMF) Liquidity Facility (AMLF) program, which has brought liquidity to the ABCP market. Today, the Federal Reserve is taking additional actions to enhance the flexibility of bank holding companies to provide support to their bank sponsored funds.
In addition, the Securities and Exchange Commission and the FASB issued a clarification regarding the valuation of assets, including commercial paper, during such periods of market stress.
In addition, the recent legislation temporarily increases the amount that the FDIC insures in bank and thrift deposits from $100,000 to $250,000. The legislation also increases the FDIC's ability to borrow from the Treasury if needed.
Collectively these actions should enhance market stability and investor confidence in such funds
Mortgage Markets
We are committed to seeing the housing GSEs serve their public purpose of providing stability, liquidity, and affordability to the housing market. The Federal Home Loan Bank System continues to be an important source of liquidity to the banking system in support of housing finance. To provide critical additional funding to our mortgage markets, Fannie Mae and Freddie Mac are increasing their purchases of agency mortgage-backed securities (MBS).
FHFA has directed the two companies to implement such a purchase program immediately. We also expect each company to continue to increase its direct support to the mortgage market through their ongoing securitization activities.
Treasury too has established a backstop secured credit facility for the housing GSEs. In addition, to increase the availability of capital for new home loans, Treasury expanded the agency MBS purchase program we announced in September. This will complement the capital provided by the GSEs and will help facilitate mortgage availability and affordability.
Market Integrity
Confidence is also enhanced by vigorous law enforcement so that those who invest know there is someone who is looking out for them. The SEC and Commodity Futures Trading Commission (CFTC) bring hundreds of cases every year directed at protecting investors. This past fiscal year the SEC returned approximately $1 billion to injured investors just as it did the year before. In the past few months, the SEC with others in law enforcement, have restored liquidity to Auction Rate Security investors in the largest securities buyback in the nation's history with tens of billions of dollars of liquidity being restored to tens of thousands of investors. The CFTC this year obtained more than $630 million in penalties against those attempting to manipulate the commodity markets and defraud customers as it continues to aggressively pursue its ongoing national crude oil investigation aimed at protecting the nation's energy markets. The SEC and CFTC have dozens of ongoing investigations related to the current market conditions and are using all of their tools to vigorously protect investors and maintain the integrity of our capital markets.
Clearing and Settlement Systems
Regulators are closely monitoring clearing and settlement systems to ensure their proper functioning as we encourage further centralized clearing for other financial instruments to bring enhanced transparency and counterparty risk management to those markets.
While addressing our challenges, we must also remind investors and lenders that we have a resilient and diverse economy and workforce. We have faced economic and financial market challenges in the past. Each time we have worked through them and emerged with stronger financial institutions and regulatory policies. While it will take time and a lot of hard work, we are confident that this time will be no different.
Leadership has been shown with decisiveness and determination by the public sector. Together, we can greatly improve the functioning of markets and move forward to rebuilding our great capital markets.
Yahoo IM omega375hh |
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Omega
Total Unequivocal Bad Fuckin' News
User ID: 340280
10/6/2008 11:02 AM
| | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
omega
since 535 seems 2 like u, have u heard from him, or do you think he is holed up or working somewhere?? im interested in what u think or have to do with this dude.
he kinda freaks me out now that i reread some of his stuff and the dates.
what say u? Quoting: Anonymous Coward 234226
I have not heard from 535 and do not know who he is, yet he has some very interesting positions on all this stuff...
Yahoo IM omega375hh |
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Anonymous Coward
User ID: 515785
10/6/2008 11:06 AM | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
CAC40 -8.99%.
No crepes & champaign tonight. I cleared my bank account and bought gold, silver and beans. |
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Anonymous Coward
User ID: 492746
10/6/2008 11:06 AM | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
Omega, as you say to late
but something just went ping in the back of me head
I've been following what this Reinhert character has been pointing out
and from your post above, it starts to make sense the Government IS pretending to fail (to little to late)
depending on your point of view of course but to appreciate
the good you must experience the bad (or not so good)
what good will come of the Government failing ?
Are we looking at teh NWO or NWFO first steps of P R S ? |
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aznwarlord
User ID: 518767
10/6/2008 11:07 AM
 | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
hyperinflation here we come!!! Whoppie!!!
i love my 50 dollar loaf of bread!!!!
Unfortunately, no one can be told what The Matrix is. You have to see it for yourself. |
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Anonymous Coward
User ID: 510500
10/6/2008 11:09 AM | | Re: Fed Boosts Cash Auctions to $900 Billion, May Do More | Quote |
WTF happened to the 630 billion injected last Monday??? Poof!!!!
These guys are gonna cut .75 basis points probably today in a last gasp attempt at a stick save...... Quoting: Omega
not sure on the amount but they will cut. |
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