Don't Trust Snakes: Is this what just happened?

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“I know where I'm headed.”

ROGER THORNHILL

Monday, March 17, 2008

Is this what just happened?

I'm trying to decide whether the Fed—which presumably is not even equipped to collect the information about the unprecedented financial market situation it would need to be able to intervene efficiently at the best times—has just committed itself to printing new money to be the buyer and trading partner of last resort for a growing glut of financial instruments no one else wants.

Labels: If there's a bustle in your hedge fund

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