http://www.bloomberg.com/apps/news?pid=newsarchive&sid=auJxnhL3YKQg
Repo Failure Remedy Drives Away Short-Sellers in Treasuries
It is impossible for me to describe how much disdain I have for this crew at the Fed. Clearly they have no idea of the consequences of their actions. Changing market rules that have long been in existence so they can ease the path for Treasury issuance only eliminates their credibility. They never see the forest through the trees.
Why would anyone participate in a market when the rules can change at any time? Remember that kid who couldn't stand to lose the ball game and would cheat or go home or change the rules? I do, that kid either got beat up or just got lonely playing by himself.
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