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[@rcwhalen](/creator/twitter/rcwhalen)
"You know we owe #MeredithWhitney an apology. The #GSEs are starting to see pools of all closed-end seconds. A quarter of $RKT closes are seconds we hear but the #UPB is maybe XX% of volumes. We just heard from $DB that a pool of XXX% CES are OK for REPO and gestation. @pulte"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1943459837712732549) 2025-07-10 23:58:27 UTC 43.7K followers, 3253 engagements


"@elerianm Powell and the staff have handed their heads to republicans on a platter due to operational errors. Powell ought to clean house repackage and sell toxic MBS to leave clean plate for successor. @greg_ip"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1947826866749870140) 2025-07-23 01:11:28 UTC 43.7K followers, 1220 engagements


"Yo @RandPaul and @larry_kudlow Summer read: Should the Federal Reserve Pay Interest on Bank Reserves ICYMI  Greenspan and Kohn are heroes saw the need XX years before QE"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1949121164053213470) 2025-07-26 14:54:33 UTC 43.7K followers, 1830 engagements


"@StephenMoore Fed did poor job on inflation and managing #SOMA portfolio. REALLY dumb in fact. Powell ought to repackage $2T of underwater MBS (maybe XX cents FV today) into @CMOs NOW and ask GSEs to sell paper into DURATION STARVED MARKET. Get those new GSEs prefs out soon @MarkCalabria"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1947812593634062579) 2025-07-23 00:14:45 UTC 43.7K followers, XXX engagements


"@Beyonce Jay-Z take out second mortgage on Bel Air manse Those seconds are starting to roll in but UPB is still tiny"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1949119262766809563) 2025-07-26 14:46:59 UTC 43.7K followers, XX engagements


"Volatility in the secondary market is a much bigger problem than fed funds. ST interest rates are about financing new loans prior to MBS. LT rates are about pricing new loans. @potus has added half a point to mortgage rates since January. Selling a X% 30-year FRM into a @FannieMae XXX at XXX is terrible execution"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1948026725314470247) 2025-07-23 14:25:38 UTC 43.7K followers, 1180 engagements


"@LoganMohtashami Well if we are selling 6.87-7% 30-year FRM production into a @FannieMae XXX% (see #TBA Monitor from @markets) that really sucks. This illustrates why rates are too high but heaven help us after the next rally"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1947810504434716872) 2025-07-23 00:06:27 UTC 43.7K followers, XXX engagements


"Isn't @pulte a Republican Why is @realDonaldTrump pushing progressive agenda on credit scores at @FHFA Industry wasted four years and millions of dollars on Biden credit score exercise. I was there. Industry has no interest in spending time and big money on change to @VantageScore and @FICO_corp 10T the two new models. Zero"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1948488165141905747) 2025-07-24 20:59:14 UTC 43.7K followers, 4925 engagements


"@wesbury I think the big risk to markets and the economy is a sudden sharp change in the jobs market and continued "disappointment" in earnings. Call it the COVID delta. A lot of leaders are falling off new highs reached just this week"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1948766640516071761) 2025-07-25 15:25:48 UTC 43.7K followers, XXX engagements


"The Cost to Housing of Donald Trump icymi  Guess we're not talking about housing this week. Can't wait to see the actuals for Q2. @MBAMortgage"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1948376733842907519) 2025-07-24 13:36:27 UTC 43.7K followers, 1749 engagements


"$BAC Almost Tipped Over Trading Points: Citi Goldman PennyMac and Mr. Cooper @PNCBank @Citi h/t for Jane"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1949159141286572507) 2025-07-26 17:25:27 UTC 43.7K followers, 1841 engagements


"Can't wait to see the margin calls. What is the advance rate 50%"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1947599770698006690) 2025-07-22 10:09:04 UTC 43.7K followers, 7556 engagements


""The reason to use blockchain technology is for the benefits listed above which you can only get on public chains. Otherwise its better to use a centralized ledger." @DefiantNews Well said. @GoldmanSachs piece is making me laugh"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1948133190817689614) 2025-07-23 21:28:41 UTC 43.7K followers, 2122 engagements


"I have seen a couple of comments arguing that stablecoins are going to be like resumming #QE but the cash is already in the system. Leaves the bank which sells T-bills. Goes into coin cash goes into t-bills. Net net is there really a change @GeorgeSelgin @jaltucher"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1948377661442609533) 2025-07-24 13:40:08 UTC 43.7K followers, 5408 engagements


"The Flow Show Banks Bonds Booms Bubbles Michael Hartnett Key takeaways: * Risk-on until bond yields rise to levels that trigger lower bank stocks i.e. 30-yields in UK XXX% US XXX% Japan XXX% * Wall St at highs yet Main St approval at lows.why investors positioning for US boom & bubble policies into mid-terms * Return of US exceptionalism but no return of US$ bull.long commodities & EM next phase of dollar-debasement trade"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1948752363025482151) 2025-07-25 14:29:04 UTC 43.7K followers, 1959 engagements


"Reader: thanks for all your terrific insight. X. have you been following $NTRS merger noise Yes. Wrote about it for subs Would face a regulatory X. is it possible for current bank equity valuations to appreciate Anything is possible in New Bolshevia"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1941531803753513126) 2025-07-05 16:17:08 UTC 43.7K followers, 2988 engagements


"@wesbury Yep. The Fed does not hedge SOMA. But that is just the start of the idiocy at @federalreserve when it comes to the balance sheet. Powell should repackage and sell the $X T in underwater MBS now. Like $BAC"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1948027263250833740) 2025-07-23 14:27:46 UTC 43.7K followers, XXX engagements


"On site: Checking in at the Waldorf Astorias $2B renovation @multifamilydive"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1942280191675334877) 2025-07-07 17:50:58 UTC 43.7K followers, 2538 engagements


"Plus U.S. Telegram users get self-custodial wallet LOL. Why is $GS afraid of public chains @ThinkingUSD"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1948129684128231777) 2025-07-23 21:14:45 UTC 43.7K followers, 2172 engagements


"@Rebelshin That was the plan. The fact that Arch is bailing is a very bad sign. And $APO and $ARES AND $BLK are buying the PE stakes at deep discount"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1948475858374508950) 2025-07-24 20:10:20 UTC 43.7K followers, XX engagements


"How could he dis the fatboy @fatboyicecream"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1947405875393528048) 2025-07-21 21:18:36 UTC 43.7K followers, 2481 engagements


"****CITIGROUP POACHES TWO SENIOR JPMORGAN BANKERS IN HIRING PUSH**** Bull signal"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1945557353060770060) 2025-07-16 18:53:14 UTC 43.7K followers, 3760 engagements


"SO if you know @RandPaul or @larry_kudlow or @judyshel grab em (gently) and whisper: "the fed must pay interest on reserves when you have $XX T in debt. OK" Tell em to ask @GeorgeSelgin or Bill Nelson at @bankpolicy We don't like it but it's the reality. @tedcruz"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1949120127850471484) 2025-07-26 14:50:26 UTC 43.7K followers, 1696 engagements


"@biancoresearch Trump is head of the Executive Branch. And he enjoys it immensely. Like touring a club or commercial property. Fed needs more attention. Like in asset management. And "open market operations." Maybe we farm out #QE to @GoldmanSachs and be done with it @WilliamCohan @jimcramer"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1948500329827344884) 2025-07-24 21:47:34 UTC 43.7K followers, 1468 engagements


"A key investor in BlackRocks private funds is looking to cut its stakes following disappointing performance and senior executive departures at the US asset manager source say $ACG $APO @BLK"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1948468357927502000) 2025-07-24 19:40:31 UTC 43.7K followers, 2686 engagements


"Property tax hike likely as Chicagos $1B budget gap widens @MorningAnswer"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1945134600893710381) 2025-07-15 14:53:22 UTC 43.7K followers, 2195 engagements


""Could we be on the cusp of a monetary upheaval The Genius Act was signed into law last week bringing stablecoins digital tokens pegged to the dollar into the regulatory mainstream. Its early days but its conceivable the act will usher in the biggest overhaul to the US and global monetary systems since the demise of Bretton Woods over XX years ago." @LondonSW"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1948339257648484416) 2025-07-24 11:07:32 UTC 43.7K followers, 10.4K engagements


"In addition to the widespread confusion over #RRPs and TGA virtually no discussion of fact that Bank of Japan ended NIRP yesterday. Hmm $YCL @Stimpyz1"  
![@rcwhalen Avatar](https://lunarcrush.com/gi/w:16/cr:twitter::27212395.png) [@rcwhalen](/creator/x/rcwhalen) on [X](/post/tweet/1733167378991604131) 2023-12-08 16:51:18 UTC 43.7K followers, 4904 engagements