Morgan Stanley: We Could See QE4 By Christmas

Evening links from around the web:

• MORGAN STANLEY: We Could See QE4 By The End Of The Year
• QE4? Wall Street Banks Are Already Complaining That QE3 Is Not Enough
• Special Report: Well-to-do get most mortgage help from Uncle Sam - Reuters
• OUTRAGE: Justice Dept. regularly enlists Media Matters to spin press
• Islamist group warns of new cyber attacks on U.S. banks
• Global financial system as risky as before 2008, warns IMF
• Barack Obama jokes, but the national debt keeps mounting
• U.K. deficit could be bigger than Greece
• TERROR REPORT: Fake IDs still quick and easy in most states
• Funniest Home 'For Sale' Sign Ever: 'Because Neighbor's An Asshole'
• French Socialist President jokingly considers backing Romney
• Romney runs from 'Neocon' label because Americans reject it by 2 to 1!
• Clinton: ‘It’s gonna be a different world’ once Obama reelected (nonsense)
• Sheldon Adelson: Inside the mind of the billionaire mega-donor
• Iran unveils new drone that can target Israel months after capturing U.S. drone
• Feds raids L.A. marijuana shops - LA Times
• Scalia was 'Furious' at Roberts' vote on Obamacare ruling, says new book

Comments

[DailyBail]

S&P 500 down for 5th straight day amid Europe unrest

http://money.cnn.com/2012/09/26/investing/stocks-markets/index.html?iid=Popular

[Cheyenne]

Sheila Bair interviewed about her new book, Bull by the Horns. As Chair of the FDIC when TARP was passed, Bair was a central player throughout the bailout saga.

http://live.wsj.com/video/the-big-interview-sheila-bair/A8FC152E-8F84-4A5E-BF25-70D499A62CB3.html#!A8FC152E-8F84-4A5E-BF25-70D499A62CB3

Like Neil Barofsky, Bair has a lot of animosity for Geithner's anything-the-banks-ask-for approach to the crisis. Interestingly, she relays an anecdote about Geithner acting, in his official capacity as Treasury Secretary, in a manner squarely at odds with the Obama White House. Perhaps to avoid drawing attention to the obvious--that Obama answers to Geithner, not the other way around--Bair says she "didn't know what was going on."

Bair claims that Geithner was specifically focused on bailing out Citigroup, having mentored at the knees of failed megalomaniac Bob Rubin. Bair goes so far as to say that by requiring all of the Notorious Nine to take money, when it was Citigroup who needed it the worst, that Paulson unfairly tarred many of the other banks as unhealthy along with Citigroup.

From what I know, that's not right. Barofsky tells us that both Goldman and Morgan Stanley were on the precipice of collapse (per Pauson and Bernanke). Likewise, the big 4 commercial banks (BAC, WFC, JPM and of course C) are broke as well; fair valuations of their HELOCs alone would capsize all 4 of them. Indeed were the big 4 not insolvent, there would have been no need for Congress to enact mark-to-bullshit accounting in early '09. Bair may be right that Citi was the worst, but that doesn't render the others somehow solvent. But I digress; it was a solid interview.

It's good to see straight talking insiders like Barofsky and Bair, two rare officials who were truly concerned about Main Street, get some air time.

[dailybail]

I've seen everything on the bair comments. Just taking me time getting it posted.

[john]

http://thehill.com/blogs/e2-wire/e2-wire/258773-report-carbon-tax-could-halve-the-deficit-

...When Hell freezes over.