Political Influence and Government: Foodstamps Interactive Chart, Geithner Yields, Bernanke, AEI on GSEs, Triparty Reverse Repos, PPIP Private Label MBS, Jim Rogers on Geithner

Interactive Map: Food Stamp Usage Across the Country – The number of food stamp recipients has climbed by about 10 million over the past two years, resulting in a program that now feeds 1 in 8 Americans and nearly 1 in 4 children – NY Times

————

In-Geithner-We-Trust Bond Market Gets Lowest Yield – By Susanne Walker – Less than a week after deflecting calls for his resignation, Timothy Geithner sold bonds on behalf of U.S. taxpayers at the lowest yields on record in a show of confidence in the Treasury Secretary’s policies. – Bloomberg – neither ZIRP nor consequences of rolling short term debt if rates rise is mentioned (BC)

Drain test – Fed to Conduct ‘Small Scale’ Triparty Reverse Repos – By Daniel Kruger and Christopher Wellisz – The Federal Reserve said it will test one of the tools for an eventual withdrawal of the central bank’s unprecedented monetary stimulus while stressing that the trials themselves don’t represent any change in policy. – Bloomberg

————

The right reform for the Fed – By Ben Bernanke – … I am concerned, however, that a number of the legislative proposals being circulated would significantly reduce the capacity of the Federal Reserve to perform its core functions. … Now more than ever, America needs a strong, nonpolitical and independent central bank with the tools to promote financial stability and to help steer our economy to recovery without inflation. … – Washington Post

————

What (If Anything) Can Be Done With The GSEs? – BY PHIL HALL – The American Enterprise Institute (AEI) sponsored a seminar on Nov. 12 in Washington, D.C., entitled “Is it Possible to Reprivatize the U.S. Financial System?” – has quotes from a number of notable people – MortgageOrb

————

PPIP Fuels Demand for Private-Label MBS: Smith Breeden – By DIANA GOLOBAY – … Appetite for private-label brought prices for some prime and Alt-A RMBS mortgages as much as $10-20 since the March lows, while some tranches in the ABX index — representing a range of subprime securities — rose more than 25% since March. … But non-agency RMBS is seeing little new production and heavy borrower defaults, indicating “non-agency RMBS securities are going away” for now, Smith Breeden said. … – HousingWire

————