FOMC has lost all credibility

K

killATwill

Does anyone take Bernanke seriously anymore? Greenspan, Volker, these guys would at least be trying to cut rates his morning.

Paulson lost his cred when he threatened us with a market crash if the bail didn't pass. Then he took our money and the market crashed anyway. Can we put that freak-fingered man in jail? (check out his alien pinky on this left hand).
 
Quote from killATwill:

Does anyone take Bernanke seriously anymore? Greenspan, Volker, these guys would at least be trying to cut rates his morning.

Paulson lost his cred when he threatened us with a market crash if the bail didn't pass. Then he took our money and the market crashed anyway. Can we put that freak-fingered man in jail? (check out his alien pinky on this left hand).
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Paulson begs to differ with you.

GS is above $100.

Which means his "blind trust" gets to vest $300 million in GS options.


No "crash" there.




Here's a prediction:



If GS should drop below 100 today, next weekend we'll see Paulson make another dramatic maneuver. At the expense of the future of the country.




He'll sell the country before he lets GS drop below $100

After all, it's a question of $300 million. You get to make a fortune only once.
 
The fed and treasury have really lost their minds. Every time the market loses 7%, they come up with a dinky announcement like: "Treasury said planning to buy regional bank shares"

More coordinated global efforts are needed now. That's the only event the market took to heart. US unilateral economic intervention is pissing in the ocean.
 
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