Repo Madness and Wall Street's Wicked Ways

“The FHLB...may not be able to fulfill its roles, both as liquidity backstop and as an integral provider of funding in the credit markets during the next financial crisis.” — Fed Notes, Oct. 2017

There you have it in black and white, the Federal Reserve stating that it expects another crisis! In my book, “Repo Madness: A Simpleton’s Guide to the Street’s Wicked Ways,” you will learn about the shadow banking system that informs our lives every day. You will see that it emerged outside of the purview of regulators and most important, you will learn about “repo,” short for "repurchase agreement."

The U.S. repo market weighs in at $13 trillion and globally it hovers around $20 trillion. It is a market often referred to as “arcane,” or a “dark corner” of the market, yet, in truth, it is the shadow banking delivery system.

How can it be until relatively recently when pulling up “repo” online one was met with information on car repossession? Yet, since the 1980s the repo market has been the epicenter of the financial banking system that brought down the house in 2008! Knowledge is power and so long as we, the people, who face economic challenges that are only worsening remain in the dark then the forces behind the curtain we call Wall Street will continue to thrive until the day comes when once again, we are faced with yet another crisis. How do I know this? The Fed said so!

A former reporter and financial writer, I had to learn this stuff the hard way. Delving into areas that challenged me every day. I was determined, and now have written a user-friendly book that while brief, packs a powerful punch. Among the most compelling revelations is the conclusion by several prominent economists that in truth, the financialization that has overtaken our world has shown no benefit to society! None whatsoever!

Reporting on repo is scant, and that is why even those in the finance industry and academics who teach are unfamiliar with it. It is inconceivable that as we go about our daily lives, we are oblivious when it comes to the largest market in the world. That must change. The first step in the process is to read my book.

“Repo Madness: A Simpleton’s Guide to the Street’s Wicked Ways”?is available on?Amazon?and?Barnes & Noble.