Fed's QE2 bond buying program being run by children...feel better?

[solidus]

http://www.cnbc.com/id/41019109

The Fed's QE2 $600 billion Treasury bond buying program is being supervised by a 34 year old Ph. D. who is supervising 3 desk traders, 1 @26 years and 2 @ 29 years. As if it wasn't ridiculous enough...

[gunny highway]

But inside the Operations Room what a load of crap.

Might as well say "Meanwhile, back at the batcave." :-\

[ximmy]

I have utmost confidence these bright young amateurs are getting us tax payers the best price for our dollars...
Deep inside the Federal Reserve Bank of New York, the $600 billion man is fast at work.

In a spare, government-issue office in Lower Manhattan, behind a bank of cubicles and a scruffy copy machine, Josh Frost and a band of market specialists are making the Fed’s ultimate Wall Street trade. They are buying hundreds of billions of dollars of United States Treasury securities on the open market in a controversial attempt to keep interest rates low and, in the process, revive the economy....

Hey but, who follows directions better than a few pee-ons...
The smallest miscalculation, a few one-hundredths of a percentage point here or there, could unsettle the markets and cost taxpayers dearly. It could also embolden critics at home and abroad who say QE2 represents a dangerous expansion of the Fed’s role in the markets.
“We are looking to get the best price we can for the taxpayer,” said Mr. Frost, a buttoned-down 34-year-old in a striped suit and rimless glasses.

Yeah, this is gonna work...
On one recent morning, trader one was Tiffany Wilding, 26. While she reviewed the stream of offers and then the prices finally accepted by the algorithm, trader two, Blake Gwinn, 29, double-checked her decisions and trader three, James White, 29, made a duplicate of everything in case the computers crashed.

All the while, Mr. Frost stood behind his colleagues, ready to intervene — and even cancel the Fed’s purchases — at any sign of trouble.

They have their work cut out, trying to outwit the 18 investment firms that deal directly with the Fed. These so-called primary dealers — the Goldmans and Morgans of the world — employ some of the sharpest minds on Wall Street.
Good times are just ahead!!! ...ximy


Mr Frost & his band of market
specialists take a break...