naked capitalism Tue 2009-10-27 12:37 EDT

Why is Zero Hedge claiming the Fed is intervening in equities markets?

Edward Harrison of Credit Writedowns

I just came across a post on Zero Hedge called ``An Overview Of The Fed's Intervention In Equity Markets Via The Primary Dealer Credit Facility.'' Now, that's a mouthful. As far as I can discern, the post's purpose is to expose alleged equities market manipulation by the Federal Reserve. However, I found the argument rather conspiratorial. And despite claims of an alleged smoking gun, there is no evidence in the post that that Federal Reserve is manipulating anything except interest rates. And the Fed made clear that that was what it intended to do.

equity markets; Fed; intervening; naked capitalism; Zero Hedge claiming.

naked capitalism Sun 2009-10-11 17:06 EDT

Asian Countries Intervene to Prop Up Greenback (Dollar Bind Edition)

An unannounced but evidently coordinated effort to arrest or at least slow the fall of the dollar is underway. The Financial Times indicated that Asian central banks were aggressive dollar buyers on Thursday, but the information came via currency traders rather than an official pronouncement. Thailand, Malaysia and Taiwan made substantial purchases; Hong Kong and Singapore also intervened today. The action may also have a secondary objective of rejiggering their currency values versus China's, since China repegged the renminbi against the dollar...

Asian Countries Intervene; Dollar Bind Edition; greenback; naked capitalism; prop.

Thu 2009-10-01 17:56 EDT

98489 -- Landmark National Bank v. Kesler -- Leben -- Kansas Court of Appeals

J. J. LEBEN

Landmark National Bank brought a suit to foreclose its mortgage against Boyd Kesler and joined Millennia Mortgage Corp. as a defendant because a second mortgage had been filed of record for a loan between Kesler and Millennia. In a foreclosure suit, it is normal practice to name as defendants all parties who may claim a lien against the property. When neither Kesler nor Millennia responded to the suit, the district court gave Landmark a default judgment, entered a journal entry foreclosing Landmark's mortgage, and ordered the property sold so that sale proceeds could be applied to pay Landmark's mortgage. But Millennia apparently had sold its mortgage to another party and no longer had interest in the property by this time. Sovereign Bank filed a motion to set aside the judgment and asserted that it now held the title to Kesler's obligation to pay the debt to Millennia. And another party, Mortgage Electronic Registration Systems, Inc. ("MERS"), also filed a motion to set aside the judgment and asserted that it held legal title to the mortgage, originally on behalf of Millennia and later on behalf of Sovereign. Both Sovereign and MERS claim that MERS was a necessary party to the foreclosure lawsuit and that the judgment must be set aside because MERS wasn't included on the foreclosure suit as a defendant. The district court refused to set aside its judgment. The court found that MERS was not a necessary party and that Sovereign had not sufficiently demonstrated its interest in the property to justify setting aside the foreclosure. ...The district court properly determined that MERS was not a contingently necessary party in Landmark's foreclosure action. The district court also was well within its discretion in denying motions from MERS and Sovereign to intervene after a foreclosure judgment had been entered and the foreclosed property had been sold. The judgment of the district court is affirmed.

98489; appealing; Kansas court; Kesler; Landmark National Bank; leben.

Jesse's Café Américain Sun 2009-09-20 11:07 EDT

Stock Market Rally: Shenanigans Abounding

Jesse

...The US markets in general have every mark of a maturing Ponzi scheme...Bonds, stocks, metals, sugar, cocoa, and oil are all moving higher, while the dollar sinks. Is the dollar funding a new carry trade?...We remain guardedly 'optimistic' on the markets for next year ONLY because of the Fed's and Treasury's willingness to continue to debase the dollar to cover the massive unrealized losses in the banks' portfolios, even as they return to manipulating markets in business as usual. Inflation is good for financial assets, and we think another bubble is in the cards, at least for now given Obama's unwillingness to reform, unless some exogenous event or actor intervenes...

Jesse's Café Américain; Shenanigans Abounding; stock market rally.

Sat 2008-03-22 00:00 EDT

naked capitalism: Desperate Central Bankers to Bail Out MBS Market? (Not Yet, Perhaps....)

"ntent of policy should be to limit damage to individuals rather than intervene in asset market in ways that are destined to fail anyhow"

bailed; Desperate Central Bankers; MBS Market; naked capitalism; PERHAPS.

Fri 2008-01-18 00:00 EST

Money Matters: Dr. Jekyll And Mr. Hyde Conspire To Destroy Us

by Elaine Meinel Supkis; Supkis predicts "IF JAPAN INTERVENES OPENLY TO WEAKEN THE YEN, CHINA WILL DUMP THEIR FOREX RESERVES OF DOLLARS ONTO THE OPEN MARKET AND TANK THE DOLLAR."

destroyed; Dr. Jekyll; money matters; Mr. Hyde Conspire.