U.S. Treasury Says Fed Financing Bills to Mature Soon
2008-11-17 by John Brinsley and Rebecca Christie (Bloomberg News)
John Paulson Buys Mortgage Bonds as Hedge Fund Losses Widen
2008-11-19 08:29:47.350 GMT by Tom Cahill and Tomoko Yamazaki (Bloomberg News)
If I read the first article correctly, the Treasury is crowding out the Fed -- an "unintended consequence" I'd not thought of. Ironic, too, that not long after Henry Paulson 'officially' said TARP won’t buy MBS John Paulson is said to be buying them: Paulson v. Paulson.
JRB
