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The NY Fed faces an inherent conflict of interest over its push for mortgage buybacks, as the...

The NY Fed faces an inherent conflict of interest over its push for mortgage buybacks, as the move would simultaneously help recover taxpayer money while running counter to the Fed's goal of stabilizing the banking sector.
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Comments (6)
  • MarketGuy
    , contributor
    Comments (3983) | Send Message
     
    The entire Fed IS a conflict of interest in itself, not just its mortgage buyback issue.

     

    A full open book audit is the only solution to clarity of the rhetoric and, ultimately, healing of a corrupt system.
    21 Oct 2010, 08:47 AM Reply Like
  • doubleguns
    , contributor
    Comments (8381) | Send Message
     
    A little descention with in the ranks might be a good thing.
    21 Oct 2010, 08:59 AM Reply Like
  • nobby73
    , contributor
    Comments (1177) | Send Message
     
    It's a really strange way to look at it. In my opinion, the only way to stabilize the banking sector in the long term is by making them pay for their mistakes.
    21 Oct 2010, 09:06 AM Reply Like
  • A Newell
    , contributor
    Comments (492) | Send Message
     
    I think this is silly. Its like saying that the judge has a conflict of interest in a court case. The interest of the Fed is to maintain a stable economic environment, they cannot possibly have a conflicting financial interest. And who would you want on the other end of the teeter totter?
    21 Oct 2010, 11:39 AM Reply Like
  • stockpicker8
    , contributor
    Comments (36) | Send Message
     
    This move by the NY fed is nothing more than a pre-election stunt to make the democrates look like defenders of the people. The only thing they acomplish though is hurting the ecomony and extending issues with housing and unemployment. So far, they have not turned up any evidence on BoA and that will be revealed in the end. The stock is a great buy right now if you are willing to wait a month or two.
    21 Oct 2010, 03:05 PM Reply Like
  • A Newell
    , contributor
    Comments (492) | Send Message
     
    I agree...B of A stock will be back to $35.00 a share in two years. There is no way that a massive number of mortgages will be allowed to escape because of the "fine print". Remember, B of A makes money on the spread and doesen't really care if the actual rates are low or high.
    25 Oct 2010, 11:09 AM Reply Like
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