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To: MythMan who wrote (392728)	8/17/2009 10:35:09 AM
From: Secret_Agent_Man	Respond to of 436258

i see y we stopped going down.....arrgh

To: MythMan who wrote (392728)	8/17/2009 11:09:27 AM
From: Real Man	Read Replies (1) \| Respond to of 436258

The sentence in bold is meaningful. This is the largest printing operation by far. <G> newyorkfed.org New York Fed Streamlines External Investment Managers for Agency MBS Purchase Program August 17, 2009 The Federal Reserve Bank of New York today announced that it has streamlined the set of external investment managers for the agency mortgage backed securities purchase program, reducing the number of investment managers from four to two. The New York Fed has retained Wellington Management Company, LLP for trading, settlement and as a secondary provider of risk and analytics support; and BlackRock Inc. as the primary provider of risk and analytics support. These changes are not performance related. The New York Fed anticipated that it would make adjustments to its use of external investment managers as it gained more experience with the program. The agency MBS program has matured since it began in January, and the New York Fed has had time to further develop its internal analytical and operational expertise in this area. The New York Fed is committed to implementing its programs in the most efficient and cost effective manner possible. The agency MBS program’s custodian remains J.P. Morgan. The program, first announced on November 25, 2008, is intended to support the mortgage and housing markets and foster improved conditions in financial markets more generally. newyorkfed.org

To: MythMan who wrote (392728)	8/17/2009 12:47:58 PM
From: Giordano Bruno	Respond to of 436258

What sort of earnings recovery is this, anyway? We have on our hands today a revenue line that is declining twice as fast and yet the consensus seems to believe that we are going to go back and challenge the highs (or at the least the pre-Lehman collapse levels). Even on a quarter-over-quarter basis, the 5.6% decline in 2Q was worse than the 3.7% decline in 1Q when everyone believed that the world was coming to an end.