Federal Reserve

Federal Reserve Toxic Assets

By Jonathan Yates (May 2011) Back offices are notoriously the weaknesses in financial institutions for a variety of factors.   The most obvious is that the back office is not a revenue producer.  It does not bring in the earnings that a trader or investment banker does.  As a result, it will nev

Honest Corruption

The Federal Reserve has paid a year long bribe to the housing market to keep mortgage rates almost a full point below average. The $1.25 trillion payoff also known as the Mortgage Backed Security purchase program is about to end. Will the mortgage market stay bought? Honest corruption is when a brib

Where to Look in a World Starved For Yield

The Federal Reserve’s policy of pegging interest rates to the floor is having a slew of consequences. It’s driving down the dollar. It’s helping fuel new asset bubbles. It’s leading to the misallocation of economic resources. And perhaps most importantly for you, it’s p