Friday, July 1, 2011

Fed Halts Sales Of Toxic AIG Sludge Upon Realization Any Balance Sheet Unwind Crashes The Market

by Tyler Durden

Three weeks ago, when discussing the failed (yes, failed) Maiden Lane 2 auction by the New York Fed, we said: 'Something quite disturbing happened during today's latest attempt by the Fed to sell $3.8 billion in face amount of Maiden Lane 2 assets: it had a busted dutch auction.

 Bad stuff going on here.   How long can they sweep it under the rug?  And Schumer is out there blaming Republicans.  For this???
 

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