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Zoltan Pozsar and Perry Mehrling On The Historic Crisis Of Financial Market Plumbing
Odd Lots
Is the Fed Taking Credit Risk?
The Fed can easily make a market in treasuries. We've seen an expansion of the Fed's role in other sort of private credits, money markets,. High quality investment grade company credit and so forth. How far can the Fed go before it becomes clearly outside of anything that the Fed is equipped to do? The details of these facilities are still coming clear but so far as I can see, they're following the playbook of 2008.
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