Tuesday, December 30, 2008

In Excel this is called a Circular Reference Error

Per the MBS Purchase Program FAQ (hat tip Across the Curve):

Assets purchased under this program are fully guaranteed as to principal and interest by Fannie Mae, Freddie Mac, and Ginnie Mae, so the Federal Reserve's exposure to the credit risk of the underlying mortgages is minimal.
Click for ginormous picture


  1. The solution is easy then, just set iterations to 10^1000000000

  2. From a distance, the image looks like a helicopter blade turning.