Someone Tell This Asshat It's Too Late

One would think a "senior" Federal Reserve official would know that the Fed has been politicized already, what with serving as lender of only resort and easy money pimp to banks and governments alike. That's not politically driven? Greenspan's bubble wasn't politically driven? Didn't you see the America: Open for Business signs post 2001? Tell me that wasn't politically driven.


A senior Federal Reserve official warned on Thursday that a Senate proposal to make the New York Federal Reserve Bank president a White House appointee risks injecting a dangerous dose of politics into the deliberations of the central bank.

"This is pretty much blatant politicization of the Fed," St. Louis Federal Reserve Bank President James Bullard told Reuters in an interview. "I also think it's setting up conflicts with the Board of Governors in the future."

So yeah, Bullard gets a cookie for understanding how dangerous politics are to the Fed's fragile mandate but fails miserably at recognizing that these wheels have long been in motion.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.


elf2006real said...

let's get non political for a much is the dollar worth now do you figure? And how the Hell do we measure it? 1/1220th of an ounce of gold? 1/55th of a gram? 1/19th of an oz of silver?

30 conventional cents?