Warren and Cruz are both HUGE hypocrites

[Toddsterpatriot]

The information you want is at this link. I'm not downloading it.
System Open Market Account Holdings - Federal Reserve Bank of New York

This is that chart, image captured at a blog. The current estimate is at $1.5 trillion.

When the housing market is owned by Fed banks: Federal Reserve went from holding zero in mortgage-backed securities to over $1.5 trillion.

The Fed went from owning zero in MBS all the way to the current $1.5 trillion. The Fed is a massive portion of the market and is buying up nearly 100 percent of all issued MBS. This has also caused massive volatility in the bond market. Yet the end result is that homeownership overall is actually down for Americans because a large portion of the buying is going to Wall Street and big banks.


You can even see this on the private side with MBS issuances:

What need is there to grow this portion of the market if the Fed is dominating it so dramatically? There is little incentive to make this more competitive when banks instead of helping American homeowners are actually buying up massive amounts of homes with the corporate financial welfare of the Fed. Driving up prices with no subsequent growth in incomes is not a healthy policy.

Since the Fed has intervened we have seen roughly 30 percent of all home purchase going to investors:

“(NAR) All-cash sales comprised 32 percent of transactions in December, unchanged from November; they were 29 percent in December 2012. Individual investors, who account for many cash sales, purchased 21 percent of homes in December, up from 19 percent in November, but are unchanged from December 2012.”

This has created a new form of a Gilded Age society because inequality continues to rise and home prices rising with no real substantive growth in income is not useful. What does it matter if a regular home buyer has access to a mortgage at a 4 percent interest rate when connected banks can leverage debt at close to zero percent?

The Fed went from owning zero in MBS all the way to the current $1.5 trillion.

Thank God you finally posted some real info.


http://www.sifma.org/uploadedfiles/...iles/sf-us-mortgage-related-sifma.xls?n=02400

This nifty site shows about $7.2 trillion agency MBS outstanding, in addition to $1.4 trillion non-agency MBS.

So your 100% claim was just a bit off.

Let me know if there's anything else you're confused about, I'm always glad to help.

Yes, there is something else you can help with. I post for others that come to review our debates, folks that aren't necessarily members. They will hit your link and see that they need to download something and ignore it and assume that I am right and you are a liar.

I would please like you to link to something that observers could see as evidence proving me wrong. Otherwise, we will have to assume you are full of crap.

They will hit your link and see that they need to download something and ignore it and assume that I am right and you are a liar.

Like you, they'd be wrong. Clicking the link gives you an Excel file.
It has the proof your 100% claim was wrong. The opposite of right.
You're free to not click and continue to spread your error.

IOW, you don't have any proof to the casual viewer of this site. Nice. I have offered up several sources and you offer up nothing.

Casual viewers can't click the link? That's awfully sad.
If I bothered to figure out how to copy an Excel spreadsheet, I'd post it.

There are plenty of sources that show the supply of MBS is much, much larger than the $1.744 trillion the Fed owns. If I feel like kicking you while you're down, I'll find another.

 

[Toddsterpatriot]

The information you want is at this link. I'm not downloading it.
System Open Market Account Holdings - Federal Reserve Bank of New York

This is that chart, image captured at a blog. The current estimate is at $1.5 trillion.

When the housing market is owned by Fed banks: Federal Reserve went from holding zero in mortgage-backed securities to over $1.5 trillion.

The Fed went from owning zero in MBS all the way to the current $1.5 trillion. The Fed is a massive portion of the market and is buying up nearly 100 percent of all issued MBS. This has also caused massive volatility in the bond market. Yet the end result is that homeownership overall is actually down for Americans because a large portion of the buying is going to Wall Street and big banks.


You can even see this on the private side with MBS issuances:

What need is there to grow this portion of the market if the Fed is dominating it so dramatically? There is little incentive to make this more competitive when banks instead of helping American homeowners are actually buying up massive amounts of homes with the corporate financial welfare of the Fed. Driving up prices with no subsequent growth in incomes is not a healthy policy.

Since the Fed has intervened we have seen roughly 30 percent of all home purchase going to investors:

“(NAR) All-cash sales comprised 32 percent of transactions in December, unchanged from November; they were 29 percent in December 2012. Individual investors, who account for many cash sales, purchased 21 percent of homes in December, up from 19 percent in November, but are unchanged from December 2012.”

This has created a new form of a Gilded Age society because inequality continues to rise and home prices rising with no real substantive growth in income is not useful. What does it matter if a regular home buyer has access to a mortgage at a 4 percent interest rate when connected banks can leverage debt at close to zero percent?

The Fed went from owning zero in MBS all the way to the current $1.5 trillion.

Thank God you finally posted some real info.


http://www.sifma.org/uploadedfiles/...iles/sf-us-mortgage-related-sifma.xls?n=02400

This nifty site shows about $7.2 trillion agency MBS outstanding, in addition to $1.4 trillion non-agency MBS.

So your 100% claim was just a bit off.

Let me know if there's anything else you're confused about, I'm always glad to help.

Yes, there is something else you can help with. I post for others that come to review our debates, folks that aren't necessarily members. They will hit your link and see that they need to download something and ignore it and assume that I am right and you are a liar.

I would please like you to link to something that observers could see as evidence proving me wrong. Otherwise, we will have to assume you are full of crap.

They will hit your link and see that they need to download something and ignore it and assume that I am right and you are a liar.

Like you, they'd be wrong. Clicking the link gives you an Excel file.
It has the proof your 100% claim was wrong. The opposite of right.
You're free to not click and continue to spread your error.

IOW, you don't have any proof to the casual viewer of this site. Nice. I have offered up several sources and you offer up nothing.

The word began spreading across Wall Street trading desks on Monday morning: Fannie Mae and Freddie Mac, the giant companies at the heart of the nation’s housing market, might be in trouble.
The tumult, which continued on Thursday, started with a cautionary analyst’s report, one that might have caused few ripples in normal times. But these are not normal times. Within minutes, the price of the companies’ shares was plunging, sending shock waves through the financial markets, the economy and Washington.

Fannie Mae and Freddie Mac are so big — they own or guarantee roughly half of the nation’s $12 trillion mortgage market — that the thought that they might falter once seemed unimaginable. But now a trickle of worries about the companies, which has been slowly building for years, has suddenly become a torrent.

http://www.nytimes.com/2008/07/11/b...=5124&partner=permalink&exprod=permalink&_r=0

7.5 years ago, they were involved with 6 trillion. Since the crisis, much more.

You're welcome!

 

[MisterBeale]

The information you want is at this link. I'm not downloading it.
System Open Market Account Holdings - Federal Reserve Bank of New York

This is that chart, image captured at a blog. The current estimate is at $1.5 trillion.

When the housing market is owned by Fed banks: Federal Reserve went from holding zero in mortgage-backed securities to over $1.5 trillion.

The Fed went from owning zero in MBS all the way to the current $1.5 trillion. The Fed is a massive portion of the market and is buying up nearly 100 percent of all issued MBS. This has also caused massive volatility in the bond market. Yet the end result is that homeownership overall is actually down for Americans because a large portion of the buying is going to Wall Street and big banks.


You can even see this on the private side with MBS issuances:

What need is there to grow this portion of the market if the Fed is dominating it so dramatically? There is little incentive to make this more competitive when banks instead of helping American homeowners are actually buying up massive amounts of homes with the corporate financial welfare of the Fed. Driving up prices with no subsequent growth in incomes is not a healthy policy.

Since the Fed has intervened we have seen roughly 30 percent of all home purchase going to investors:

“(NAR) All-cash sales comprised 32 percent of transactions in December, unchanged from November; they were 29 percent in December 2012. Individual investors, who account for many cash sales, purchased 21 percent of homes in December, up from 19 percent in November, but are unchanged from December 2012.”

This has created a new form of a Gilded Age society because inequality continues to rise and home prices rising with no real substantive growth in income is not useful. What does it matter if a regular home buyer has access to a mortgage at a 4 percent interest rate when connected banks can leverage debt at close to zero percent?

The Fed went from owning zero in MBS all the way to the current $1.5 trillion.

Thank God you finally posted some real info.


http://www.sifma.org/uploadedfiles/...iles/sf-us-mortgage-related-sifma.xls?n=02400

This nifty site shows about $7.2 trillion agency MBS outstanding, in addition to $1.4 trillion non-agency MBS.

So your 100% claim was just a bit off.

Let me know if there's anything else you're confused about, I'm always glad to help.

Yes, there is something else you can help with. I post for others that come to review our debates, folks that aren't necessarily members. They will hit your link and see that they need to download something and ignore it and assume that I am right and you are a liar.

I would please like you to link to something that observers could see as evidence proving me wrong. Otherwise, we will have to assume you are full of crap.

They will hit your link and see that they need to download something and ignore it and assume that I am right and you are a liar.

Like you, they'd be wrong. Clicking the link gives you an Excel file.
It has the proof your 100% claim was wrong. The opposite of right.
You're free to not click and continue to spread your error.

IOW, you don't have any proof to the casual viewer of this site. Nice. I have offered up several sources and you offer up nothing.

The word began spreading across Wall Street trading desks on Monday morning: Fannie Mae and Freddie Mac, the giant companies at the heart of the nation’s housing market, might be in trouble.
The tumult, which continued on Thursday, started with a cautionary analyst’s report, one that might have caused few ripples in normal times. But these are not normal times. Within minutes, the price of the companies’ shares was plunging, sending shock waves through the financial markets, the economy and Washington.

Fannie Mae and Freddie Mac are so big — they own or guarantee roughly half of the nation’s $12 trillion mortgage market — that the thought that they might falter once seemed unimaginable. But now a trickle of worries about the companies, which has been slowly building for years, has suddenly become a torrent.

http://www.nytimes.com/2008/07/11/b...=5124&partner=permalink&exprod=permalink&_r=0

7.5 years ago, they were involved with 6 trillion. Since the crisis, much more.

You're welcome!

We know all this, but you are just not listening to the aftermath and what congress is upset about.

Under the Housing and Economic Recovery Act of 2008 (HERA), Congress authorized the Treasury to provide sufficient funding to insure up to $300 billion dollars of original principal. Yet in a move that was clearly no part of Congressional intent, the Treasury has announced that it will allow this commitment to "increase as necessary to accommodate any cumulative reduction in net worth over the next three years." Coincident with this, the Federal Reserve has accumulated nearly $1.5 trillion of Fannie Mae and Freddie Mac securities (MBS and agency debt), which is has no plan to liquidate other than lip service. Rather, it is allowing these securities to run off through maturity and pre-payment. Of course, the funds to pay off those maturing securities will largely come from the Treasury. Meanwhile, Bernanke has made it clear that the most important tool of the Fed during the interim will not be liquidation of these securities, but instead the payment of interest on bank reserves.


If one is alert, it is evident that the Federal Reserve and the U.S. Treasury have disposed of the need for Congressional approval, and have engineered a de facto bailout of Fannie Mae and Freddie Mac, at public expense.


Below is a chart of the composition of the Federal Reserve's balance sheet, in billions of dollars. Against these assets, the Fed creates currency and bank reserves, which comprise the "monetary base." Clearly, the volume of Fed-supplied stabilization funding in the system is still enormous. As James Hamilton has observed, "it seems not coincidental that, when you look at the total of all the assets the Fed is holding, the expansion of MBS purchases exactly offsets the declines from phasing out the short-term lending facilities. As a result of the MBS and agency purchases, the total assets of the Federal Reserve today exceed the total reached at the peak level of activity for the lending facilities in December 2008."
Hussman Funds - Weekly Market Comment: The Federal Reserve's Exit Strategy: Unlegislated Bailout of Fannie and Freddie - February 16, 2010

 

[Toddsterpatriot]

The Fed went from owning zero in MBS all the way to the current $1.5 trillion.

Thank God you finally posted some real info.


http://www.sifma.org/uploadedfiles/...iles/sf-us-mortgage-related-sifma.xls?n=02400

This nifty site shows about $7.2 trillion agency MBS outstanding, in addition to $1.4 trillion non-agency MBS.

So your 100% claim was just a bit off.

Let me know if there's anything else you're confused about, I'm always glad to help.

Yes, there is something else you can help with. I post for others that come to review our debates, folks that aren't necessarily members. They will hit your link and see that they need to download something and ignore it and assume that I am right and you are a liar.

I would please like you to link to something that observers could see as evidence proving me wrong. Otherwise, we will have to assume you are full of crap.

They will hit your link and see that they need to download something and ignore it and assume that I am right and you are a liar.

Like you, they'd be wrong. Clicking the link gives you an Excel file.
It has the proof your 100% claim was wrong. The opposite of right.
You're free to not click and continue to spread your error.

IOW, you don't have any proof to the casual viewer of this site. Nice. I have offered up several sources and you offer up nothing.

The word began spreading across Wall Street trading desks on Monday morning: Fannie Mae and Freddie Mac, the giant companies at the heart of the nation’s housing market, might be in trouble.
The tumult, which continued on Thursday, started with a cautionary analyst’s report, one that might have caused few ripples in normal times. But these are not normal times. Within minutes, the price of the companies’ shares was plunging, sending shock waves through the financial markets, the economy and Washington.

Fannie Mae and Freddie Mac are so big — they own or guarantee roughly half of the nation’s $12 trillion mortgage market — that the thought that they might falter once seemed unimaginable. But now a trickle of worries about the companies, which has been slowly building for years, has suddenly become a torrent.

http://www.nytimes.com/2008/07/11/b...=5124&partner=permalink&exprod=permalink&_r=0

7.5 years ago, they were involved with 6 trillion. Since the crisis, much more.

You're welcome!

We know all this, but you are just not listening to the aftermath and what congress is upset about.

Under the Housing and Economic Recovery Act of 2008 (HERA), Congress authorized the Treasury to provide sufficient funding to insure up to $300 billion dollars of original principal. Yet in a move that was clearly no part of Congressional intent, the Treasury has announced that it will allow this commitment to "increase as necessary to accommodate any cumulative reduction in net worth over the next three years." Coincident with this, the Federal Reserve has accumulated nearly $1.5 trillion of Fannie Mae and Freddie Mac securities (MBS and agency debt), which is has no plan to liquidate other than lip service. Rather, it is allowing these securities to run off through maturity and pre-payment. Of course, the funds to pay off those maturing securities will largely come from the Treasury. Meanwhile, Bernanke has made it clear that the most important tool of the Fed during the interim will not be liquidation of these securities, but instead the payment of interest on bank reserves.


If one is alert, it is evident that the Federal Reserve and the U.S. Treasury have disposed of the need for Congressional approval, and have engineered a de facto bailout of Fannie Mae and Freddie Mac, at public expense.


Below is a chart of the composition of the Federal Reserve's balance sheet, in billions of dollars. Against these assets, the Fed creates currency and bank reserves, which comprise the "monetary base." Clearly, the volume of Fed-supplied stabilization funding in the system is still enormous. As James Hamilton has observed, "it seems not coincidental that, when you look at the total of all the assets the Fed is holding, the expansion of MBS purchases exactly offsets the declines from phasing out the short-term lending facilities. As a result of the MBS and agency purchases, the total assets of the Federal Reserve today exceed the total reached at the peak level of activity for the lending facilities in December 2008."
Hussman Funds - Weekly Market Comment: The Federal Reserve's Exit Strategy: Unlegislated Bailout of Fannie and Freddie - February 16, 2010

Rather, it is allowing these securities to run off through maturity and pre-payment. Of course, the funds to pay off those maturing securities will largely come from the Treasury.

Who wrote this crap? No, payments on maturing MBS will not largely come from the Treasury, but from home owners paying down/paying off their mortgages.

If one is alert, it is evident that the Federal Reserve and the U.S. Treasury have disposed of the need for Congressional approval, and have engineered a de facto bailout of Fannie Mae and Freddie Mac, at public expense.

Duh, they put them into receivership.

As James Hamilton has observed, "it seems not coincidental that, when you look at the total of all the assets the Fed is holding, the expansion of MBS purchases exactly offsets the declines from phasing out the short-term lending facilities.

Well, yeah, shrinking the money supply in 2009 would have been a really stupid thing to do.

We know all this, but you are just not listening to the aftermath and what congress is upset about.

What, in that confusing mess of an excerpt, was the aftermath that is upsetting Congress?