Tuesday, December 30, 2008

This thing of ours

Federal Reserve Press Release

Release Date: December 30, 2008
For immediate release

The Federal Reserve on Tuesday announced that it expects to begin operations in early January under the previously announced program to purchase mortgage-backed securities (MBS) (half a trillion worth - AM) and that it has selected private investment managers to act as its agents in implementing the program.

Because of the size and complexity of the agency MBS program, a competitive request for proposal (RFP) process was employed to select four investment managers and a custodian. The investment managers are BlackRock Inc., Goldman Sachs Asset Management, PIMCO and Wellington Management Company, LLP.

(Wasn't sure why Wellington was named ... but now I do, they are the 3rd largest institutional holder of GS stock. Welcome to the 'waste management business'. -AM)


Holder / Shares / % Out / Value / Reported

Barclays Global Investors UK Holdings Ltd 17,355,918 4.39 $2,221,557,504 30-Sep-08
STATE STREET CORPORATION 16,769,356 4.24 $2,146,477,568 30-Sep-08
WELLINGTON MANAGEMENT COMPANY, LLP 15,840,670 4.01 $2,027,605,760 30-Sep-08

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