{"id":754,"date":"2008-03-11T15:34:07","date_gmt":"2008-03-11T21:34:07","guid":{"rendered":"http:\/\/michaelsiegel.net\/?p=754"},"modified":"2008-03-11T15:34:07","modified_gmt":"2008-03-11T21:34:07","slug":"fed-strikes-back","status":"publish","type":"post","link":"https:\/\/michaelsiegel.net\/?p=754","title":{"rendered":"Fed Strikes Back"},"content":{"rendered":"<p>I have to admit, the <a href=\"http:\/\/www.nytimes.com\/2008\/03\/11\/business\/11cnd-fed.html?_r=1&#038;ex=1362974400&#038;en=c9c49e643017647f&#038;ei=5088&#038;partner=rssnyt&#038;emc=rss&#038;oref=slogin\" title=\"Fed loan\">Fed loan<\/a> of $200 billion to banks confuses me.  Fortunately, <a href=\"http:\/\/meganmcardle.theatlantic.com\/archives\/2008\/03\/bernanke_tries_to_slap_some_se.php\" title=\"McCardle is there\">McCardle is there<\/a> to explain it to us non-economists.<\/p>\n<blockquote><p>What&#8217;s happening to the credit markets is a little akin to a bank run. The underlying conditions may be somewhat shaky, but what&#8217;s really screwing things up is that everyone&#8217;s trying to run for the exits&#8211;or just play possum&#8211;at once.<\/p><\/blockquote>\n<p>So this is the equivalent of the Fed slapping people and telling them to come to their senses &#8212; some mortgage-backed securities are good investments.<\/p>\n<p>Boy, James Surowiecki must be loving this.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I have to admit, the Fed loan of $200 billion to banks confuses me. Fortunately, McCardle is there to explain it to us non-economists. What&#8217;s happening to the credit markets is a little akin to a bank run. The underlying conditions may be somewhat shaky, but what&#8217;s really screwing things up is that everyone&#8217;s trying &hellip; <a href=\"https:\/\/michaelsiegel.net\/?p=754\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Fed Strikes Back<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-754","post","type-post","status-publish","format-standard","hentry","category-culture"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p2BzKF-ca","_links":{"self":[{"href":"https:\/\/michaelsiegel.net\/index.php?rest_route=\/wp\/v2\/posts\/754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/michaelsiegel.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michaelsiegel.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michaelsiegel.net\/index.php?rest_route=\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/michaelsiegel.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=754"}],"version-history":[{"count":0,"href":"https:\/\/michaelsiegel.net\/index.php?rest_route=\/wp\/v2\/posts\/754\/revisions"}],"wp:attachment":[{"href":"https:\/\/michaelsiegel.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michaelsiegel.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michaelsiegel.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}