Former Fed Governor Laurence Meyer Admits the Dirty Fed Is a Big Fat Liar
h/t Daily Bail (head over there for the video clip)
And we quote:
"You have to tell a little white lie. When asked if you have all the tools to solve the problem, you have to say 'yes.' Can you imagine if Bernanke said "we can't do anything about it," the market would be down 40% before he finished his sentence."
In the clip, Rick Santelli comes back with a comment about the market rallying 1000 points if the Fed were to announce a removal of its dirty paw from the cookie jar and an end to bailout madness/QE/Fed intervention. Oh snap!