Harbinger of Great News! 18 minutes ago The harbinger of good news: Fed's loss in the court of appeals.
The clearing house club tacitly headed by the Fed is poised to burst. If it does, Wamu equity will win big.
I bet the number one bank failure prevented by Fed lending is JPMC. The US Congress (at least the bigwigs) have tacitly supported the Fed to not disclose the names. JPMC is the bank that does most checking business for the government. JPMC is one of the main dealers of US Treasuries. But it does most, if not all, payment transactions for the government.
In 2008, the Fed, Congress and President Bush did not know how the government would survive if JPMC failed and so they heeded to Paulson to save JPMC with funds from taxpayers and losses to investors. This is my best inference based on circumstantial facts.
The Fed's loss in the court case case will lead us to the truth, unless the Fed goes to the SC and wins.
The question raised by Fed's zeal to appeal, in any case, is: who is the Fed representing?
Does the Fed represent people on whose back it creates money to gift to banks at little cost so that the same banks (i) use the cheap money to rip off people's retirement savings and investments and (ii) blackmail the Congress to print more money for them if their gambles fail the banks?
The people who play the games through the banks get richer in any case, even if their banks perish. Is this not why the US economy is perishing?