He Did It
January 22nd, 2008 by 
reality
Ben couldn’t resist. He cut ‘em. Lots of luck, Ben. Doubtless you’ll get the stock market bounce you’re after. But you’re just aggravating and storing up the trouble, as the Fed always has in recent times.
Posted in Fixed Income, Stocks, The Fed | 
3 Comments »
January 22nd, 2008 at 11:04 am
It’s interesting to watch this unfold – banks and retailers pop! What?! Oh yeah, covering shorts…
Otherwise the landscape looks like a bloodbath… http://www.smartmoney.com/marketmap/
January 22nd, 2008 at 12:35 pm
The Federal Reserve is a quasi-private bank whose board of governors is appointed by the president and approved by Congress.
Their loyalties lie with the banking system and the executive branch. Of course they are going to do whatever they can to prop up the banks and make things look rosy so that King George’s legacy isn’t tarnished by two recessions during his term.
I just wish that I was cc’d on the fed memos so that I could buy stuff before they jack the markets around :(.
January 22nd, 2008 at 3:20 pm
Ben wants to insure a double digit million dollar deal after his term at the Fed is over. Today was another chit he will call in when he is a free agent. Make no mistake about it, Ben knows that there is big money to be had and he will get it. Retired folks on social security are finished and will be lucky to afford dog food when this is over.