The Nurturing Fed

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I love the way the media reports Fed rate cuts: '"What everyone's waiting for now is to see what the Fed will do at the next meeting," Yared said. "Whether they drop 25 basis points or even 50 to really soothe the markets."'

Think how much more caring and nurturing that sounds than if they said, "What everyone's waiting for now is to see whether the Fed will drop 25 basis points or even 50 to really bail out a bunch of Wall Street fat cats who made bad bets, all at the expense of the little guy."

Comments

  1. Anonymous12:29 PM

    When it comes to gambling, you can't beat Uncle Ben's Perverted Dice.

    I don't think the fed can fix the problems in real estate finance. It probably did serious damage to its credibility today, which is, boys and girls, good for us in the long run.

    Now if the lawmakers allow Fannie, Freddie and FHA to make even more outlandish bets on residential housing than they have been making the past five years, then, perhaps, they can reflate the real estate bubble.

    They need the real estate bubble, and I have no doubt that they will find new ways to expand credit to the least of my uncreditworthy brothers.

    ReplyDelete
  2. Anonymous11:22 AM

    It's simple. We have Ben Gay to soothe our muscles and Ben Bernake to "soothe our markets".

    ReplyDelete
  3. Anonymous8:15 AM

    From the New York Times today

    "The free market is fine as long as things are going good. It’s not so popular when you’re losing your shirt."

    Which is another way of saying:
    "We're pigs, and all we need is a doctrine that keeps the trough full."

    ReplyDelete

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