The Federal Reserve and the Velocity of Money [View article]
The FAS 157 accounting rule scares investors and issuers. The securitization process is effectively dead for non-agency securities of mortgages, auto, credit card, and student loans. The multiplier is low for that reason. Banks actually are making loans. Please look at the bank data on the federalreserve.gov website to verify what I just said.
The Federal Reserve and the Velocity of Money [View article]
Paulson Drops the Ball Again [View article]