http://zerohedge.blogspot.com/2009/0...iring-ppt.html
"All you wannabe masters of the universe who want to bypass the three- to five-year apprenticeship at Goldman Sachs and go straight to the motherlode of manipulative machinations, look no further than this job posting on the Ladders, in which none other than the bastion of free market communism, aka the New York Fed, is seeking a Financial Analyst/Corporate Bond Analyst. With all the newly minted billions of corporate debt floating around and not yet purchased by gullible "buy-and-hold" investors, the PPT has realized it is short one credit Wizard of Oz. An amusing blurb from the Request For Plunge-Protectors (RFPP):
The candidate would be expected to develop a macro approach towards analyzing corporate credit with a focus on those high-grade and high-yield sectors that have implications for monetary policy and financial stability. This will entail tracking credit spread movements in both cash and derivatives markets and understanding how they are impacted by changes in the macro environment. This will also entail informing policy makers on what these markets say about the macro environment and market liquidity. A key element will also be to understand the market microstructure against which price movements take place and the conditions under which they could negatively impact market liquidity and financial stability. To this end, the candidate would be expected to develop extensive contacts with corporate credit market participants – both primary dealers and buy-side investors -- as well as to interface with other areas of the bank, such as Bank Supervision and Research.
It is about time the Fed hired someone to inform them that both the "macro environment and market liquidity", not to mention the "market microstructure", are on the verge of collapse. "



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