Thursday, September 25, 2008

Finally the script gets interesting

Just when I thought the fix was in, that the Treasury and the Federal Reserve had pummelled Congress into committing $700 billion plus dollars for the magic experiment in emergency finance, things got interesting. A Federal Reserve Governor has essentially publicly told Fed Reserve Chairman Bernanke to take a hike.

Fed's Fisher Says Rescue Would Increase Fiscal Burden.

This is nigh unto unprecedented. I'm thinking the bailout scheme is in tatters, and ole Ben's days are numbered.

Now, I'm not happy about any of this, but I'm not at all impressed with the ideas coming from the top.

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