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Fed Buys $20 Billion In QE3 Mortgages; Jobs Created: Zero
Posted By yihan On September 28, 2012 @ 7:58 am In Money Watch | Comments Disabled
Zero Hedge 
Friday, September 28, 2012
Yesterday, the Fed reported the first $20.1 billion in net, non-rolling purchases of MBS eligible under QE3 (consisting of FHLMC, FNMA, GNMA and GNMA2, most likely the bulk of them coming out of a certain office in Newport Beach which has decided to start locking in its monster profits for the year after getting QEternity spot on ). End result: jobs created or saved zero. But at least we got the first recessionary PMI print, and an employment component that was the lowest since March 2010. When in doubt who can destroy the economy the best, just leave it to Benver.
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URL to article: http://www.prisonplanet.com/fed-buys-20-billion-in-qe3-mortgages-jobs-created-zero.html
URLs in this post:
 Zero Hedge: http://www.zerohedge.com/news/2012-09-28/fed-buys-20-billion-qe3-mortgages-jobs-created-zero
 first $20.1 billion : http://www.newyorkfed.org/markets/ambs/
 QEternity spot on: http://www.zerohedge.com/news/pimco-borrows-record-88-billion-bet-feds-upcoming-mbs-monetization
 Image: http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2012/09-2/Fed%20Purchases%2020%20bn.jpg
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