The fed funds rate is the rate that:

In the podcast on “What happen on the night of April 8th in the Bond market” – which statement is FALSE:

Some argue that the actions of the Fed since 2008 have been a net-zero type of transaction.   In a few short sentences detail one argument that it is a net-zero type of transaction, and one counter-argument to this.

The use of credit derivatives by banks was appealing to them for the following reasons:I. It was a way to remove and decrease their exposure to credit risk.II. It was an opaque, relatively unregulated market.III. The spreads that they earned were high (return on a CDS minus return on a T-Bill).IV. All of their net positions were balance sheet items (i.e. all transactions were on their balance sheet). 

You purchase a put option for 5 dollars a share with a strike price of 100 (X=100).  The price of the stock ends up at 96 dollars.  Your profit is   

Proponents argue that HFT aids our markets by providing increased ____________________.                         What is one counter-argument to this claim?  If we desire to thwart HFT, what is one legislative move that we can do to get them out of the market (i.e. not just banning them outright).  Describe what this would do.

Since late 2008, with T-bill rates near zero, the Fed decided to try _____________________________.   Describe this process in general in a few short sentences.  What does it entail and how is it different from the typical levers which the Fed pulls on:

An 18 year T-Bond can be stripped into how many separate securities? 

In theory, a decrease in reserve requirements will lead to an:

The Fed changes reserve requirements from 10% to 9%, thereby creating $900 million in excess reserves. The total change in deposits (with no drains) would be