Unqualified Reservations Fri 2009-12-18 10:03 EST

Expiring liquidity facilities: bad plan, Stan

Mencius Moldbug

I predict: serious financial disturbances will occur on or before February 1, 2010. Or soon thereafter...I also have a serious - ie, verifiable - prediction. I predict that before the end of 2010, probably well before the end of 2010, possibly even before the beginning of 2010, the Fed will be forced to renew these facilities or others like them. In other words, I predict that its attempt to kick the liquidity junk will not succeed. In the end, I believe all these "temporary" facilities will become substantively permanent - just like the original LF, deposit insurance.

Bad plans; Expiring liquidity facilities; Stan; Unqualified Reservations.

Fri 2008-06-20 00:00 EDT

Walter Bagehot Was Wrong - June 19, 2008 - The New York Sun

Walter Bagehot Was Wrong, by James Grant - June 19, 2008 - The New York Sun; Jim Grant: structuring mortgages for central bank deposit in special liquidity facilities will result in a new cycle of currency debasement; Walter Bagehot versus Thomson Hankey on central banks, moral hazard, fairness, and ready money

2008; June 19; New York Sun; Walter Bagehot; wrong.

Fri 2008-05-16 00:00 EDT

naked capitalism: Quelle Surprise! Banks May Be Gaming ECB Liquidity Facility

bank; Gaming ECB Liquidity Facility; naked capitalism; Quelle Surprise.