Decoding the Objectives of the Fed’s QE2
It’s been clear enough to everyone with eyes that the most visible effect of the Fed’s QE2 program would be to inflate the stock market, and possibly (because of the weaker dollar) commodities too. A view is starting to emerge that this is what Bernanke actually had in mind. Creating a huge amount of new "bank money" obviously did nothing to stimulate the creation of | Read More »
Senate Republicans Payback Conservative Activists By Betraying Them
Proving they are a petulant bunch, the Senate Republicans today threw up their collective middle finger at conservative activists. David Vitter’s amendment to the Financial Deform package would have required an actual audit of the Federal Reserve. The amendment was heavily lobbied for by conservative activists across the country. in fact, so popular was Vitter’s amendment that even Senator Bob Benentt declared on Saturday in | Read More »
Judd Gregg and Bob Corker Sell Out GOP on Bailouts
Judd Gregg (R-NH) and Bob Corker (R-TN) are throwing their own side under the bus on financial deform. It all involves the Federal Reserve. While saying they are working to ensure the federal government stops bailing out businesses, Corker and Gregg are working over time to defeat an amendment offered up by Senators Vitter and Sessions that would actually stop bailouts. You need to understand | Read More »
Great moments in representative democracy.
You know it’s bad when somebody from CBS voluntarily uses the title “Is Maxine Waters Really As Dumb As She Seems?“: Watch CBS News Videos Online …even Hot Air was more sedate in its title*. For those who are wondering, while grilling Fed Reserve Chair Ben Bernanke Rep. Waters confused the discount rate with the fed funds rate. And if you didn’t know what that | Read More »