Don Kohn's Resignation a Shock to an Already Wounded Fed?
Prudent Investor suggested it, not me.
Kohn will be greatly missed. The wounded beast better lumber back into its lair and regroup before it tries to attack again, the Fed is hobbling on two and a half legs now.
If Prudent Investor is on to something and the Fed is (more) crippled by Kohn's retirement, that's got to hurt extra bad after just getting pwned by Ron Paul. Again:
Thank you Congressman Ron Paul for bringing these important facts to the public’s attention.
I thank Congressman Ron Paul for bringing to the public’s attention the Federal Reserve coverup of the source of the Watergate burglars’ source of funding and the defective audit by the Federal Reserve of the bank that transferred $5.5 billion from the U.S. government to Saddam Hussein in the 1980s. Congressman Paul directed these comments to Federal Reserve Chairman Ben Bernanke at the House Financial Services Hearing February 24, 2010. I question Chairman Bernanke’s dismissive response.
BERNANKE: “Well, Congressman, these specific allegations you’ve made I think are absolutely bizarre, and I have absolutely no knowledge of anything remotely like what you just described.”
"I have absolutely no knowledge of anything remotely like what you just described" is quite possibly the greatest central banker line of all time. Even better than when Bernanke actually said "I'll have to get back to you on that" at a hearing on Merrill Lynch.
And now down a soldier. Cry.