Wednesday, March 30, 2011

FED Applause?

I am home late from work and I still have to look over some positions I have on for a possible exit so just a quick note.

FED Applause?
After long experience being amazed at how corrupt and poor decision making usually is at the FED, I may be jumping the gun here. Still, credit is due where credit is due (hat tip Kid Dynamite):
New York Fed to Sell Maiden Lane II Assets in Competitive Process over Time

This is important because a little while ago AIG offered to buy a big package of assets held by the FED that used to belong to AIG at a cheaper price than could be had by going piecemeal. Again, see this Kid Dynamite item. This not only makes financial sense, but it is the right thing to do. I am hard on the FED crew all the time, but color me impressed here. And no, I am still very sick and losing my mind.

Have a good night.

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