Comments on: Fed Hires Former Enron Lobbyist to Burnish Its Image

By: Doc Holiday

Doc Holiday — Sun, 07 Jun 2009 02:25:53 +0000

I can see why The Fed needs burnishing:

""The bond market is calling the Federal Reserve out," said Mike Larson, a real estate analyst at Weiss Research Inc. in Jupiter, Fla. "Investors are saying that the Fed can't just print money out of thin air to finance a massive deficit."

Fed Chairman Ben Bernanke acknowledged Wednesday in congressional testimony that large budget deficits could threaten financial stability by eventually eroding investor confidence and endangering the economy's prospects for long-term health.

"Even as we take steps to address the recession and threats to financial stability, maintaining the confidence of the financial markets requires that we, as a nation, begin planning now for the restoration of fiscal balance," Bernanke told the House Budget Committee.

That kind of talk is meant to calm bond investors' nerves. It also shows the quandary faced by Bernanke and other federal officials. They need to hold down interest rates through massive government spending at the same time they have to deal with worries over how that spending could damage the economy over the long term."

> The Fed is a rusted pile of trash!

By: Valentine Michael Smith

Valentine Michael Smith — Sat, 06 Jun 2009 00:54:00 +0000

Don't you just love "the energy trading company that collapsed in 2002 after an accounting scandal?"

The Savings & Loan Scandal was also a "scandal."

How about "the Bernie Madoff Scandal?" Or "the Iraq WMD Scandal?" Or" the Abu Ghraib Scandal?" Where does scandal end? What level of fraud or abomination constitutes "Scandal" rather than criminality.

If the fraud is big enough....

No one goes to jail in a "scandal."

By: Gentlemutt

Gentlemutt — Fri, 05 Jun 2009 21:50:33 +0000

Hmmm. More of Robert Rubin's proteges being embedded. Just what we the people do not need.

By: skippy

skippy — Fri, 05 Jun 2009 21:15:20 +0000

If all our financial captains and their minions were squirrels, they would be fertilizer by spring, but hay think of all the new trees we would have.

Skippy…may their carcases feed the new greenery, bring on the new spring sooooon!

By: attempter

attempter — Fri, 05 Jun 2009 19:16:07 +0000

Robertson would help the Fed manage relations with lawmakers seeking greater oversight of a central bank that has used emergency powers to prevent Wall Street’s demise..

I admit I'm not 100% clear on what Bloomberg is. Is this sentence supposed to be objective journalism?

One strong piece of evidence for the fundamental terminal rot of the system and of American morals in general is that it seems to be universally agreed that there's no shame in being a paid liar for any client. No matter how vile the cause for which you shill, e.g. Enron, you remain a respectable member of society.

If WW2 were ending today and they took Goebbels alive, would it even occur to them to charge him with war crimes? Or would everyone be looking to hire him? Propaganda spinning is morally neutral, everyone agrees.