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The Pimco plan was opposed by the Center for Economic Justice, a consumer group, which said fewer funds may be available for policyholders. “You don’t pick a financial crisis as a time to say, ‘OK let’s relax the capital requirements,’” said Birny Birnbaum, executive director of the center. “That is the time when consumers are most in need of that level of protection that surplus and reserves represent.”
The chart below taken from Gross's January 2010 Outlook shows just how dramatically the Fed and the Bank of England are currently propping up the respective economies of the US and england.
see the article here: http://seekingalpha.com/article/1813...o-s-bill-gross
i certainly think the analysis makes a lot of sense, and the comments are also interesting. it is just amazing to think that the federal reserve is purchasing 80 percent of the new debt issued so far. how do they back out of that?
Last edited by floridasandy; 01-11-2010 at 10:21 AM..
The levels of debt are choking the country... we have added enough in the past year to slow growth and projections of debt levels in the next decade will kill economic growth.
The UK will be a fascinating example to watch as it is quickly sinking below the Atlantic with debt. The average person here, should read the news from there.
The U.S. Court of Appeals in Manhattan will decide whether the Fed must release records of the unprecedented $2 trillion U.S. loan program launched after the 2008 collapse of Lehman Brothers Holdings Inc. In August, a federal judge ordered that the information be released, responding to a request by Bloomberg LP, the parent of Bloomberg News.
i guess the wheels of justice grind slowly, since that was last august that the judge ordered the release of the information. maybe the court system will do what our politicians are unwilling to do!
I am not sure why this case is left pending in the court. Congress gave The Federal Reserve a special exemption from the Freedom of Information Act. Funny this isn't being mentioned.
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