Alex J. Pollock, distinguished senior fellow at the R Street Institute in Washington and former president of the Federal Home Loan Bank of Chicago, calls in to discuss the state of our central bank's own finances. @RSI @FHLBC
3:07 Unrealized losses and the printing press6:27 Treasury issuance and the Fed9:45 Negative capital. Does it matter?15:55 Partially paid-in capital; echoes of the banking partnerships of old
James "Jim" Grant is an American writer and publisher and the founder of Grant's Interest Rate Observer, a twice-monthly journal of the financial markets. He is the author , most recently, of The Forgotten Depression: 1921: The Crash That Cured Itself. Grant's television appearances include "60 Minutes," "The Charlie Rose Show," Bloomberg TV, CNBC and other well-known financial news sources. His journalism has appeared in a variety of periodicals, including the "Financial Times", "The Wall Street Journal" and "Foreign Affairs."