Comments on: Counterparties: Well Fed critics http://blogs.reuters.com/felix-salmon/2013/05/10/counterparties-bernanke-haters/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: fresnodanhome http://blogs.reuters.com/felix-salmon/2013/05/10/counterparties-bernanke-haters/comment-page-1/#comment-46974 Sat, 11 May 2013 13:46:13 +0000 http://blogs.reuters.com/felix-salmon/?p=21689#comment-46974 The industrial FED apologist complex.
Is there an organization with more empirical evidence of ineptness? But just as the military industrial complex has a vast incentive to justify and expand itself, the same applies to the FED.

http://www.ny.frb.org/newsevents/speeche s/2007/gei070323.html

http://www.federalreserve.gov/boarddocs/ speeches/1999/19990319.htm

http://www.federalreserve.gov/boarddocs/ testimony/2002/20020417/default.htm

http://www.ritholtz.com/blog/2010/01/ban king-sector-remains-literally-unchanged/

http://www.bloomberg.com/news/2011-12-06  /bloomberg-news-responds-to-bernanke-cr iticism.html

Yes, the US is in the best of hands….the great recession was like a hurricaine or sumthin’

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By: TBV http://blogs.reuters.com/felix-salmon/2013/05/10/counterparties-bernanke-haters/comment-page-1/#comment-46973 Sat, 11 May 2013 07:59:30 +0000 http://blogs.reuters.com/felix-salmon/?p=21689#comment-46973 “Fed bashing” from people like James Grant (and his readers, Druckenmiller, El-Arian, Faber, et. al.) goes at least as far back as the 87 crash. What’s new?

Low interest rates? David Stockman writes:

“the Fed’s prosperity management model has led to the extinction of the traditional saver class. During the fourteen-year period since the Greenspan Fed panicked at the time of the LTCM crisis, its interest rate repression policies have resulted in an inflation-adjusted return on six-month bank CDs of exactly zero percent.” (The Great Deformation, p. 496.)

And of course the “investment return” on Treasury’s most recent 4-week T-bill auction (before inflation) were just that: 0.000% — precision to 3 decimal places.

http://www.treasurydirect.gov/RI/OFBills  

Bernanke’s legacy will be the assist he gave beleaguered PE titans, whose top nine executives took home only $1 billion in dividends and compensation last year:

http://online.wsj.com/article/SB10001424 127887323293704578334651224569798.html

We get the blogosphere we deserve. sigh.

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