Bail Out Nation

The Federal Reserve's balance sheet has more than doubled to more than $2 trillion, reports the FT this a.m. It has purchased $236bn on Treasury debt, $105bn in mortgage agency securities and $682bn in mortgages. The Fed's NY office has rented more office space, staff at the NY Fed's markets group is expected to reach 400 (up from 240 at the end of 2007) by year's end. Well, this picture sums it up nicely. (Found on Barry Ritholz's site; Barry's team found it on Despair Inc.)