Bernanke and Greenspan Live in the Bates Motel
If you want to understand why the US dollar is doomed and what drives current Fed policy, keep in mind Hitchcock's Psycho, but with financial derivatives instead of carving knifes.
If you want to understand why the US dollar is doomed and what drives current Fed policy, keep in mind Hitchcock's Psycho, but with financial derivatives instead of carving knifes.
The Fed normally does not raise interest rates preceding a national election. This time they are a beleaguered body and threatened by politics unlike in any recent period of history.
Are traditional assumptions about the connection between growth and proactive interest rate cuts still valid if monetary policy fails?
Paul Volcker discusses the collapse of Bear Stearns and the role the central bank has played in the American financial crisis.
In the wake of the failure of Bear Stearns, with layoffs at all the major financial institutions and the threat of more bank failures, it's entrepreneurs and small business owners who are investing in the American dream.
In an election focused on the economy, and, more precisely, an ailing economy that needs major surgery, selecting Bob Rubin powerfully sends that message.
The inevitable chimera of economic collectivization is coming undone. Will ordinary Americans pay much of the price? Almost certainly. Should they blame what happens on marketplace forces? No.
This serious economic situation greatly raises the stakes of the 2008 election. What will the government do to help the victims of economic mismanagement, to provide health insurance, and to restart the economy?
Even those who espouse free market capitalism will try to abrogate the system for personal gain. And now Republicans want to extend the powers of the Fed and Treasury to bail out failing companies.
Last week's debate proved something startling about this country as it was like watching Maury Povich and Dr. Phil perform a tag-team divorce in which...
Greenspan talked about the years he worked alongside Dick Cheney and Donald Rumsfeld in the Ford administration, and about the presidents he has worked with.
Bernanke -- like a good priest -- is responding to acts of contrition with the monetary equivalent of three "Hail Mary's and an Our Father." He is granting absolution all over the place.
Occasionally, Dana Milbank wakes up with his head tightly wedged into his rear end and Wednesday, with his Obama column, was one of those days.
Is Bernanke ready for a new round of 1932-style talk about abolishing the Fed or impeaching its leaders? Because at least three aspects of his Fed chairmanship have generated major controversy.
Yes, once again, Mr. and Ms. Taxpayer, you may be about to hold the bag for a failing financial institution, infusing these firms with the money they need to keep buying and selling mortgage debt.
Once again there was our president, presiding over disasters in part of his making and on his watch, grinning with an aplomb that suggested a serious disconnect with existing reality.
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