The Fed leaped into action when the Silicon Valley Bank (SVB) failed, and Congress quickly agreed they were derelict in their duties. No one asked why the Fed doesn’t act to keep us safe? The Fed’s website tells us: “What is the purpose of the Federal Reserve System? The Federal Reserve System,…’the Fed,’ is the central bank of the United […]
» Read moreIn 2010, The Huffington Post reported: “WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke told a panel investigating the financial crisis that regulators must be ready to shutter the largest institutions if they threaten to bring down the financial system. ‘If the crisis has a single lesson, it is that the too-big-to-fail problem must be solved,’ Bernanke said Thursday while […]
» Read moreDoes anyone believe that people standing on the deck of a sinking Titanic would be overcome by the emotion of “witnessing history”? I believe survival would be more appropriate. I opened my inbox and found MarketWatch and four other publications referencing a Bank of America Merrill Lynch (BOAML) report “Interest Rates at Lowest Level in 5,000 years”. CNBC goes one […]
» Read moreDear Mr. Bernanke, I read your article in the Wall Street Journal titled, “How the Fed Saved the Economy”, with the byline “Full employment without inflation is in sight. The central bank did its’ job. What about everyone else?” It was written to promote your new book, “The Courage to Act: A memoir of a Crisis and it’s Aftermath.” Mr. […]
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