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The Best in Alternative News

Bloomberg Purges Investigative Work on the Fed’s Secret Trillions in Loans During Wall Street’s 2008 Financial Meltdown…

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Mark Pittman was the Bloomberg News reporter responsible for the Bloomberg lawsuit against the Federal Reserve seeking the names of the banks and their share of the trillions of dollars that the Fed was secretly funneling to them during the financial crisis. Pittman had already shared in a Gerald Loeb award for Bloomberg’s five-part series, […]

Fed’s Powell Admits a Bigger Bailout for Wall Street Is Coming; Fed’s Balance Sheet Ballooned by $176 Billion Since September…

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Yesterday, at a speaking event in Denver at the National Association of Business Economists, Federal Reserve Chairman Jerome Powell acknowledged that a larger, long-term bailout of Wall Street is coming. His two key points were buried in a subterfuge of puffery but came across loud and clear: “…my colleagues and I will soon announce measures […]

There’s Nothing Normal About the Fed Pumping Hundreds of Billions Weekly to Unnamed Banks on Wall Street: “Somebody’s Got a Problem”…

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Yesterday, the House Financial Services Committee released its hearing schedule for October. There is not a peep about holding a hearing on the unprecedented hundreds of billions of dollars that the Federal Reserve Bank of New York is pumping into unnamed banks on Wall Street at a time when there is no public acknowledgement of […]

The Repo Loan Crisis, Dead Bankers, and Deutsche Bank: Timeline of Events…

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Last week, as the Fed was carrying out hundreds of billions of dollars in emergency loan operations on Wall Street for the second week in a row – the first such operations since the financial crisis – Deutsche Bank’s headquarters office in Frankfurt, Germany was being raided by police for the second time in less […]

Fed’s $400 Billion Plan to Bailout Repo Market…

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One of the most vital pieces of plumbing that powers the global financial system usually runs so smoothly that it gets overlooked by market watchers. It’s the “repo market,” comprising the short-term funding that banks and financial counter-parties regularly tap to lend each other trillions. It’s suddenly in the news again, and for all the […]

The Fed’s “Emergency” Actions this Week Were Dated a Full 48 Days Earlier…

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The storyline in the business press is that the lending rate on overnight repos had spiked to an unprecedented 10 percent, necessitating an emergency infusion of $53 billion by the New York Fed on Tuesday to ramp up liquidity for overnight loans and bring down the loan rate. (That was followed with $75 billion more […]

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