Reply #22: It would show that the Fed owns a huge pile of feces. [View All]

[ozymandius]

So says Calculated Risk:

Fed MBS Purchases: 90% Complete

From the Atlanta Fed:

The agency-backed MBS purchase program is ... on schedule, with more than $1.1 trillion purchased by year-end.

The Fed purchased a net total of $9.3 billion of agency-backed MBS through the week of December 30. This brings its total purchases up to $1.115 trillion, and by the end of the first quarter 2010 the Fed will purchase $1.25 trillion (thus, it is 89% complete).

The Fed purchased an additional $12 billion net in MBS over the last week, bringing the total to $1.127 trillion or just over 90% complete.

Mortgage Backed Securities. <<cough>> We all know how well that worked out for the originators of these stinking piles of doodoo.