Comments on: Links and Quick Takes 2/19/08 http://www.nakedcapitalism.com/2008/02/links-and-quick-takes-21908.html Mon, 23 Nov 2009 08:18:14 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Yves Smith http://www.nakedcapitalism.com/2008/02/links-and-quick-takes-21908.html#comment-4172 Yves Smith Tue, 19 Feb 2008 14:02:00 +0000 http://www.nakedcapitalism.com/2008/02/links-and-quick-takes-21908/#comment-4172 dearieme,<br/><br/>She isn't a historian, and she can overdo the colorful metaphors and sweeping generalizations. dearieme,

She isn’t a historian, and she can overdo the colorful metaphors and sweeping generalizations.

]]> By: dearieme http://www.nakedcapitalism.com/2008/02/links-and-quick-takes-21908.html#comment-4168 dearieme Tue, 19 Feb 2008 11:25:00 +0000 http://www.nakedcapitalism.com/2008/02/links-and-quick-takes-21908/#comment-4168 I wouldn't put much weight on the views of your historian there. "Russia, England and France ravenously tore the Ottoman Empire apart." Well, apart from the Crimean War, for example, where France and Britain fought Russia in defence of the Ottoman Empire. I wasn't too surprised to eventually reach the bit about zee Chews. I wouldn’t put much weight on the views of your historian there. “Russia, England and France ravenously tore the Ottoman Empire apart.” Well, apart from the Crimean War, for example, where France and Britain fought Russia in defence of the Ottoman Empire. I wasn’t too surprised to eventually reach the bit about zee Chews.

]]> By: barron von holiday http://www.nakedcapitalism.com/2008/02/links-and-quick-takes-21908.html#comment-4160 barron von holiday Tue, 19 Feb 2008 05:29:00 +0000 http://www.nakedcapitalism.com/2008/02/links-and-quick-takes-21908/#comment-4160 Yives,<br/><br/>Did you cover this?<br/><br/>Re: Banks in the United States have been quietly borrowing "massive amounts" from the U.S. Federal Reserve in recent weeks, using a new measure the Fed introduced two months ago to help ease the credit crunch, according to a report on the web site of The Financial Times.<br/>The newspaper said the use of the Fed's Term Auction Facility (TAF), which allows banks to borrow at relatively attractive rates against a wide range of their assets, saw borrowing of nearly $50 billion (25.6 billion pounds) of one-month funds from the Fed by mid-February.<br/>The Financial Times said the move has sparked unease among some analysts about the stress developing in opaque corners of the U.S. banking system and the banks' growing reliance on indirect forms of government support<br/><br/>Non-Borrowed Reserves: False Alarm<br/><br/>http://blogs.wsj.com/economics/2008/02/08/non-borrowed-reserves-false-alarm/<br/><br/>A number of people on Wall Street have noticed a recent plunge in non-borrowed reserves in the banking system and wondered it is a sign of distress in the banking system or of unusually stringent monetary policy. They dropped from $42 billion last November to negative $2 billion at the end of January.<br/>It’s probably a false alarm, though. The drop is purely technical, a function of how the Fed has chosen to classify the money lent through its new Term Auction Facility. Yives,

Did you cover this?

Re: Banks in the United States have been quietly borrowing “massive amounts” from the U.S. Federal Reserve in recent weeks, using a new measure the Fed introduced two months ago to help ease the credit crunch, according to a report on the web site of The Financial Times.
The newspaper said the use of the Fed’s Term Auction Facility (TAF), which allows banks to borrow at relatively attractive rates against a wide range of their assets, saw borrowing of nearly $50 billion (25.6 billion pounds) of one-month funds from the Fed by mid-February.
The Financial Times said the move has sparked unease among some analysts about the stress developing in opaque corners of the U.S. banking system and the banks’ growing reliance on indirect forms of government support

Non-Borrowed Reserves: False Alarm

http://blogs.wsj.com/economics/2008/02/08/non-borrowed-reserves-false-alarm/

A number of people on Wall Street have noticed a recent plunge in non-borrowed reserves in the banking system and wondered it is a sign of distress in the banking system or of unusually stringent monetary policy. They dropped from $42 billion last November to negative $2 billion at the end of January.
It’s probably a false alarm, though. The drop is purely technical, a function of how the Fed has chosen to classify the money lent through its new Term Auction Facility.

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