In that lame, self-promoting spirit of “I Said It First” (recall I’ve never held back from shameless pandering): Liz Ann Sonders, SVP & Chief Investment Strategist at my beloved employer (and nearly as brilliant and beautiful as me), writes today:
Gov’t to pull a Buffett?
I also think the Fed may have to consider direct investments via preferred shares in banks; kind of like a mega-Warren Buffett, and/or allow financial institutions outside the normal banking system, like commercial lenders, to borrow directly from the Fed via the discount window, with appropriate collateral and with an oversight that those borrowings do indeed get lent out.
Of course, I noted this nearly 1 week ago which feels like eons in light of the unprecedented pace of change bemoaning the financial services industry. But who am I to shamelessly self-promote? I always give credit where it’s due.