Nasdaq's Private Market

Buoyed by more private investment such as buyouts compared to IPO ($162b vs. $154b) for the first time ever in 2006, Nasdaq is giving options to Qualified Institutional Buyers (QIBs) to trade stocks in private companies on its new platform, called the Portal Market. The private market is developed by Goldman Sachs and called GSTrUE. The companies which will be traded on this platform doesn't need to file any report to public market regulators. However, only QIBs are allowed to participate in the private market. The QIBs are formed under the securities rule 144A in 1990, and they involve entities with at least $100m in assets.

Federal Reserve's Liquidity Boost to U.S. Financial Markets

August 18, 2007

Federal Reserve played a significant role in recent days by boosting liquidity in a shaken financial market. Fed's repurchase of mortgage-backed securities boosts liquidity in the market place, and is expected to surpass the previous record set in 2001.

Year Mortgage-backed Total Securities
Securities Repo (in Billions) Repo (in Billions)

2001 191 1492
2002 137 1141
2003 181 1516
2004 145 1870
2005 152 2097
2006 175 2125
2007YTD 187 1435

Transfer of Presidential Authority

As per 25th amendment to U.S. constitution effective since 1967, President George W. Bush has temporarily transferred authority to Vice President George W. Bush on July 21, 2007 because of his colonoscopy procedure. Under the law, he is also required to notify the Speaker of House of Representative, Rep. Nancy Pelosi, and Speaker pro-tem of Senate, Sen. Robert Byrd, by writing.

Harris Makes History as Presidential Authority Temporarily Transferred

Though it was as short as 1 hour and 25 minutes, history was made on November 19, 2021 as President Joe Biden transferred presidential authority to Vice President Kamala Harris from 9:10AM CT to 10:35AM CT as he had to go for a routine medical procedure that required anesthesia, making Harris the first woman ever at the helms of authority.