The Emergency Economic Stabilization Act of 2008 (EESA)

A few sites are summarizing the bill… WSJ – via Nancy Pelosi’s office WSJ Summary Washington Post summary CNN has a current draft of the Bill in PDF form

3 non-borrowing ideas

One of the major criticisms of the TARP solution is that the Treasury will need to borrow money in order to purchase the toxic securities clogging up our financial institutions. A second criticism is that it does nothing to address the core issue, which is that demand for homes is in steady decline, causing home [...]

October investment letter

The October edition of the Brinker Fixed Income Advisor investment letter will be mailed to subscribers next week on October 2nd. It will also be available for subscriber access that same day.

I am angry

I am angry. For the past year, our credit markets have been hanging on for dear life. The officials we have elected to oversee the operation of these markets are doing everything they can to keep them alive. Now, at this critical time of need, we are unwilling to act? Nobody likes a bailout, nobody. [...]

U.S. Treasury updates

Paulson Testimony Bernanke Testimony Money Market Guarantee update TARP fact sheet Today’s TAF auction had a LOT of demand Updated list of Primary Dealers

A busy week for the Fed…

Sept 19th – Fed backs money market funds Sept 18th – Fed encourages coordinated world-wide short-term funding Sept 16th evening – Fed opens $85 billion credit line with AIG for 80% stake in firm Sept 16th afternoon – FOMC leaves fed funds rate unchanged at 2% Sept 14th – Fed expands accepted collateral for the [...]

Fannie & Freddie update

This morning, the U.S. Treasury released the following statement regarding Fannie Mae and Freddie Mac. September 7, 2008 hp-1129 Statement by Secretary Henry M. Paulson, Jr. on Treasury and Federal Housing Finance Agency Action to Protect Financial Markets and Taxpayers Washington, DC– Good morning. I’m joined here by Jim Lockhart, Director of the new independent [...]

Employment situation

Today’s August 2008 Employment Situation Report states the economy lost 84,000 jobs in August, 60,000 in July, and 100,000 in June. The 3-mo average is -81,333 and the 12-mo average is -23,583. The continuing stream of monthly job losses (eight consecutive months now) has caused the unemployment rate to rise to 6.1% in August. It [...]

September 2008 investment letter online

The September 2008 Brinker Fixed Income Advisor investment letter is online for subscriber access at www.brinkeradvisor.com