NAB came by the bonds because it accepted them as collateral for what it described as an “interbank reverse repurchase agreement.” Got that? From what we can gather, NAB may be obligated to take on certain loan obligations of its bank partner “under certain circumstances.”
December 22nd, 2009 | Dan Denning | 2 comments | ContinuedAll Posts Tagged With: "FSA"
Inflation is Evident If You Just Follow the Money
One quick note about this: there is obviously plenty of inflation in the prices you pay every day. But most consumer price indices are rigged to understate inflation, as our colleague David Evans pointed out yesterday in Canberra at the Gold Standard Institute conference in Canberra. Trimmed medians…hedonic adjustments…
November 2nd, 2009 | Dan Denning | 5 comments | Continued
Madoff Astonished SEC Didn’t Verify His Claims
In response, the SEC says it “doesn’t have the resources” necessary to keep an eye on “the exploding number of financial firms.”
September 7th, 2009 | Bill Bonner | 0 comments | Continued