Posted on 10/18/2007 5:43:18 PM PDT by NaturalGorilla
In a remarkable speech, yesterday, at the Federal Reserve Bank of Philadelphia, Fed VIP William Dudley, the man overseeing markets for the Fed, identified five events during the recent sub-prime crisis that "that I never expected to see—ever."
The events included what Dudley calls
"nearly a failed Treasury bill auction—total bids were barely sufficient to cover the amount the Treasury was offering. This near-miss occurred despite the fact that money market mutual fund investors were fleeing to rather than away from Treasury securities."..
(Excerpt) Read more at economicsbriefing.com ...
Post #18 describes the major event that happened. All else is internet rumor fodder.
Ask to be put on Hydroshock’s econoping list.
Please add me to your list. Thank you.
Lowering rates can only result in negative TIC flow reports and a collapsing dollar.
BUMP
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