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The Institutional Risk Analyst


Critiquing Bill Ackman Statement on GSE Release
Cute reference to "average cost," but total return to date would be of greater interest.
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Jan 28 min read


Fed Fiddles as Liquidity Risk Looms
Our bet is that the Bessent "3-3-3" plan likewise will be a failure and that the Fed will be forced to restart QE sooner rather than later
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Nov 26, 20248 min read


Trump, Deficits & Credit Default Swaps
As a practical matter, no Fed chairman or governor can function without the support of the White House and the US Treasury.
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Nov 18, 20247 min read


Fiat Currencies, GSEs & Presidents
Could President elect Donald Trump be facing a maxi market correction before inauguration day?
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Nov 13, 20246 min read


Financials: Post-Trump Victory Notes
The changes that are going to occur in Washington over the next four years will be dramatically different than during Trump I.
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Nov 6, 20245 min read


Is Trump Bullish for Interest Rates? Pump & Dump for GSE and Fintech Stocks
You can tell lies and damn lies about the idea of releasing Fannie and Freddie, but the SEC and FINRA cannot and will not say a word.
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Oct 30, 20246 min read


Powell Overshoots the Runway; Update: American Express & Charles Schwab
Last year, when a lot of people were predicting the demise of SCHW, we told our readers to calm down.
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Oct 23, 20247 min read


Will Rohit Chopra Kill Basel III? Shrinking NIM at JPM and WFC
In opposing Basel III, Chopra is doing the bidding of Senator Elizabeth Warren (D-MA) but big banks are very happy to have no rule at all.
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Oct 14, 20245 min read


Should the US Exit the Basel Accord in Trump II?
The Basel Accord is one of the single biggest examples of a regulatory agency literally creating a new law from whole cloth.
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Jul 15, 20248 min read


At the Federal Reserve Board, It's 1927 All Over Again
Obviously, there should be no interest rate cuts by the FOMC without deficit reduction by Congress.
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May 30, 20247 min read


Home Mortgage Rates Falling? Really?
If President Trump starts talking about fixing the federal budget deficit and redeveloping moribund urban real estate, he’d win in November
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Feb 18, 20246 min read
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