The Administration is conducting a back-door stimulus and an interventionist industrial policy. It’s financing this with off-federal-balance-sheet-financing, in lieu of funds appropriated by Congress.

By Bruce Kasting at Carpe Diem

The Federal Financing Bank has been hard at work over the past sixty days since my last report. Some highlights:

 

 

 

These results are consistent will all the other monthly reports from the FFB since Obama took office. The Administration is conducting a back-door stimulus and an interventionist industrial policy. It’s financing this with off-federal-balance-sheet-financing, in lieu of funds appropriated by Congress.


This article from the Fiscal Times is just another in a long list of how the folks getting this money are connected one way or another to the Administration.

 

 

This bank will make headlines at some point during the Presidential campaign.

 

 

Bruce Krasting

Westchester, NY, United States

I worked on Wall Street for twenty five years. This blog is my take on the financial issues of the day. I was an FX trader during the early days of the ‘snake’ and the EMS. Derivatives on currencies were new then. I was part of that. That was with Citi. Later I worked for Drexel and got to understand a bit about balance sheet structure and corporate bonds from Mike Milken. I was involved with a Macro hedge fund later. That worked out all right, but it is not an easy road. There was one tough week and I thought, “Maybe I should do something else for a year or two.” That was fifteen years ago. I love the markets. How they weave together. For twenty five years I woke up thinking, “What am I going to do today to make some money in the market”. I don’t do that any longer. But I miss it.

 

 

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