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12 Oct 2010 01:19

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Politics, U.S.: Maybe if you win TWO Nobel Prizes, then you’ll be qualified

  • good Peter Diamond, nominated by Obama to serve in the Federal Reserve, just won the Nobel Prize in economics. Congratulations!
  • bad GOP Sen. Richard Shelby is blocking his nomination (thus preventing him from serving), because he’s “unqualified.” source
Posted by Seth Millstein • 5 Comments • Permalink

27 Aug 2010 11:48

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Biz: Bernanke plans to save the economy with immaculate beard

  • The Committee is prepared to provide additional monetary accommodation through unconventional measures if it proves necessary, especially if the outlook were to deteriorate significantly.
  • Federal Reserve Chair Ben Bernanke • On his plans to prop the economy up if it makes a double-dip, which is looking more and more likely by the day. Bernanke is currently at the Kansas City Fed’s annual monetary symposium in Jackson Hole, Wyoming, and made the speech to a ton of central bankers. But think of it this way. He was making it to more than just then. He was also trying to reassure people who still get him mixed up with Paul Krugman, or on a really bad day, Thomas Friedman. source
Posted by Ernie Smith • 0 Comments • Permalink

02 Aug 2010 10:55

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Biz: Fed Reserve: Ben Bernanke says what everyone knows already

“We have a considerable way to go to achieve full recovery in our economy.” Really? What gave you that idea? source
Posted by Ernie Smith • 0 Comments • Permalink

22 Apr 2010 11:22

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Biz: Lehman Brothers hearing: Who is this bad@$$ at the podium?

  • William Black here just got his teeth out and threw some knowledge out on the SEC, Lehman Brothers, and the financial system in general. He calls the problems that caused Lehman’s decline a “self-fulfilling policy of regulatory failure.” Why isn’t this guy like, running an agency? This is seriously a star turn here. source
Posted by Ernie Smith • 0 Comments • Permalink

18 Feb 2010 21:02

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Biz: The feds raise the interest rate, but claim it’s not a big thang

  • .5% the interest rate between December 2008 and today
  • .75% the interest rate as of today; not much else changes source
Posted by Ernie Smith • 0 Comments • Permalink

28 Jan 2010 20:17

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U.S.: Ben Bernanke reconfirmed because he recovers well after a fall

  • Chairman Bernanke’s performance in addressing the economic crisis and his current efforts to significantly enhance financial regulation to help prevent future crises outweigh his past mistakes.
  • Michigan Sen. Carl Levin • Discussing why Ben Bernanke was worthy of getting reconfirmed as Federal Reserve Chair, despite populist sentiment against a guy seen as one of the main causes for the financial crisis. Ultimately, it was his inventive solutions to tough problems that saved his job. While not always graceful, he did successfully help get the economy back on track. source
Posted by Ernie Smith • 0 Comments • Permalink

22 Jan 2010 16:46

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Politics: Will Ben Bernanke get reconfirmed in the Senate? Neither party knows

  • There is bipartisan support and there’s bipartisan opposition. But you need 60.
  • Senate Minority Leader Mitch McConnell’s spokesman, Don Stewart • Regarding whether or not Federal Reserve Chairman Ben Bernanke will have the 60 votes needed in the Senate to get himself a second term. Finding trouble reaching that mark in his own party, Senate Majority Leader Harry Reid reached out to McConnell’s people to see if they could find 60 votes between the two of them. Considering how vitriolic things have been between the two parties of late, it’s interesting that they’re working together on anything. Neither McConnell nor Reid will commit to supporting Bernanke themselves. Bad sign. source
Posted by Ernie Smith • 0 Comments • Permalink
 

12 Jan 2010 10:41

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Biz: Reward for risk: The Federal Reserve made a huge profit in 2009

  • $46.1 billion the size of the Federal Reserve’s profits in 2009
  • $14.4 billion the increase in the Fed’s profits from 2008 source
  • Why the increase? Simple. The Fed lowered its standards and became the buyer of last resort, buying assets nobody else wanted, and getting profits from those assets. In case you’re wondering, by the way, they dump these profits back to the Treasury.
Posted by Ernie Smith • 0 Comments • Permalink

16 Dec 2009 09:57

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Politics: Time’s Person of the Year: Twitter weirded out by Ben Bernanke

Posted by Ernie Smith • 0 Comments • Permalink

13 Dec 2009 22:04

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U.S.: Alan Greenspan says the Federal Reserve can’t stop unemployment

  • Bro says we’re too close to the edge of inflation. Alan Greenspan, oh, how could we live without your insight? The former Federal Reserve chairman told “Meet the Press” that we’re on the edge of what the organization can do to curb unemployment. “You cannot ask a central bank to do more than it is capable of without very dire consequences,” he continued. We imagine he also said, off-camera, “I was way better at this job than that Bernanke #(&hole,” but we don’t have proof of this. source
Posted by Ernie Smith • 0 Comments • Permalink
 
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