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Cirio, another big Italian food company, defaulted on securities about a year ago, and its founder and chairman, Sergio Cragnotti, is under investigation on fraud charges.
Mr. Meyer suggested that the Fed could mollify the markets by announcing what amounts to a preview, by investing the proceeds of maturing securities — about $20 billion each month — in longer-term debt.
Laurence H. Meyer, a former Fed governor who now leads the forecasting firm Macroeconomic Advisers, suggests the Fed could announce that it will invest the proceeds of maturing securities — about $20 billion each month — in longer-term debt.
To prevent such shrinking, which would have the undesired effect of contracting the Fed's balance sheet, the Fed announced in August that it would reinvest the proceeds from the mortgage-related holdings in Treasury securities — about $35 billion a month.
You must not buy or sell, directly or through nominees or agents, shares or securities about which you have written recently or intend to write or which you have discussed in broadcast material.
The bank's global head of municipal securities wrote some of the more colorful e-mail messages, saying in January that it would be "scary and delicate" to tell the bank's financial advisers who sold the securities about the growing problem.
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"It's about where we get our energy from, about security, about growing economies.
"We checked with UN security about the allegations made by some reporters that they had been asked to delete photographs.
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CEO of Professional Science Editing for Scientists @ prosciediting.com