The idea is to provide dollars to European banks, who have been struggling to get hold of them. The market has seized up given fears over European banks' future.
Anyway, banks asked for $50.7bn in three-month dollar funds. This was their first opportunity to use the facility.
To put the $50bn into some context, money market traders were expecting banks to take about $10bn, according to Reuters.
Wednesday, December 07, 2011
"Liquidity"
I'm sure many of us could use some free "dollar liquidity."
We've Heard It All Before
What amuses me about this kind of thing is that right wingers tend to assume that liberals are unaware of Rush's talking points of the day, and that they can be presented as some sort of very serious, thoughtful, argument that has never been made in such detail or with such care.
Just roll our eyes and try to move on.
Just roll our eyes and try to move on.
Tuesday, December 06, 2011
So Weird
The content producers will always get all the streaming money, whoever actually handles the distribution. Netflix has a near-monopoly on having a giant DVD library that will show up on your doorstep in 24 hours or so. The latter business might fade, but they'll never make any money on the former.
Mysteries
As Digby suggests, very few of the Villager wannabees will become actual top dogs, with enough "fuck you" money to weather any storm, to not worry about their medical bills, or those of their parents or kids.
Parson Meacham
Along with other things, a great thing about Pierce is his lack of interest in DC holiday party invites.
Priorities
Cracking down on thieving retailers is of course a good idea, but, really? Going after SNAP beneficiaries who try to convert their meager benefits to an even more meager amount of cash? I imagine some people who do this are using the money for Things We Officially Frown Upon, but some are probably trying to pay their damn bills.
Remember The Good Old Days
When kids just sat there, lonely, in front of their radios and TVs sheltered from all potential human interaction.
No, it isn't quite what he's saying, but jeebus there really is nothing worse than the clueless get off my lawn genre. I know there's an audience for it, but if I had the editor hat on anyone who submitted one of those columns to me would be fired. At least if I was an editor who was a wee bit concerned that the average age of my subscribers was increasing by precisely one year per year.
No, it isn't quite what he's saying, but jeebus there really is nothing worse than the clueless get off my lawn genre. I know there's an audience for it, but if I had the editor hat on anyone who submitted one of those columns to me would be fired. At least if I was an editor who was a wee bit concerned that the average age of my subscribers was increasing by precisely one year per year.
Contradictions
From BoBo (not chunky):
There are no vulcans, just people who pretend they are and stupid pundits who are stupid.
This office, under Sunstein, is incredibly wonky. It is composed of career number-crunchers of no known ideological bent who try to measure the trade-offs inherent in regulatory action. Deciding among these trade-offs involves relying on both values and data. This office has tried to elevate the role of data so that every close call is not just a matter of pleasing the right ideological army.I'm quite sure they see themselves this way. They're nonideological in their value judgments! As if that makes any fucking sense.
There are no vulcans, just people who pretend they are and stupid pundits who are stupid.
They Hired Louis Freeh
His job is not what they claim his job is.
All of our leaders are singing from the same hymnal these days.
Three weeks later, there’s little show of that promise.
The university contracted former FBI Director Louis Freeh to do an internal investigation, but won’t say how much it’s paying the firm. The university is also keeping secret how how much it is paying public relations firm Ketchum, which it hired in the wake of the scandal that ousted President Graham Spanier, head football coach Joe Paterno and two top university officials.
All of our leaders are singing from the same hymnal these days.
When they were asked about the firing of Joe Paterno, Erickson replied that it is time to look forward.
Ruh Roh
Troubles in the (Chris) Matthews family.
After an 18-month grand jury investigation, Montgomery County Commissioner Jim Matthews has been arrested on charges of perjury, District Attorney Risa Vetri Ferman.
It's The Economy, Stupid
It is, in fact, fucked up and bullshit. Fix it, or at least do a convincing job of pretending you're trying to.
Just Nonideological Technocrats
Who think that the people must feed all of their money into the gaping maws of the banksters.
The Post-Asshole Era
No, we're not entering it, but to a great degree corporate execs oppose and fight labor because that's what their DNA was programmed with in the cloning vats. If they were concerned with saving money and maximizing shareholder value they'd cut their salaries and expense accounts and corporate jets. They're not. They're concerned with being assholes and beating people down. Making peace with labor is largely about a few people deciding that maybe we shouldn't spend all of our time being giant assholes in a counterproductive way.
That's something.
That's something.
Weird People
On what planet is Chris Christie a libertarian?
They're all about taking money and giving it to their friends.
They're all about taking money and giving it to their friends.
Monday, December 05, 2011
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