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Category Archives: FED

In August 2008 Goldman Was Willing To Tear Up AIG Derivative Contracts, Offered To Take Haircut

26-Jan-10

Great piece from Zerohedge:
As observant readers will recall, a week ago we pointed out a letter in which the New York Fed’s Steven Manzari instructed AIG to stand down on all discussions with counterparties on “tearing up/unwinding CDS trades on the CDO portfolio.” At the time we focused on the word “stand down” as an [...]

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Albert Edwards Alleges Central Banks Were Complicit In Robbing The Middle Classes

21-Jan-10

Theft! Were the US & UK central banks complicit in robbing the middle classes?
by Albert Edwards, Societe Generale
Mr Bernanke’s in-house Fed economists have found that the Fed wasn’t responsible for the boom which subsequently turned into the biggest bust since the 1930s. Are those the same Fed staffers whose research led Mr Bernanke to assert [...]

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Assets hyperinflation solution

08-Oct-09

The root of the current financial crisis was an artificially induced boom in the real economy, and asset-price markets that subsequently turned to bust. The bust led to a reduction in the values of many assets owned by banks.
Thus, the banking sector found itself crippled by insolvency problems, consequently causing liquidity problems. The readjustment of [...]

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Alan Grayson And Ron Paul Ask Whether Bernanke Is Sane

08-Oct-09

Senate Letter on Bernanke Nomination

Sphere: Related Content

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You get what you pay for

04-Oct-09

Too bad that our last Fed Chairman was a dissembling, blithering idiot, a standing joke in his private practice, who could not find the optimal monetary policy with both hands. But he was a masterful politician and bureacrat, surrounded by fellow sycophants, and did know how to serve the banking interests and make himself look [...]

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