Home › Forums › Financial Markets/Economics › Fed Defies Transparency Aim in Refusal to Disclose – $2 trillion
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November 10, 2008 at 7:52 AM #14406November 10, 2008 at 8:28 AM #302158ArrayaParticipant
In an interview Nov. 6, House Financial Services Committee Chairman Barney Frank said the Fed’s disclosure is sufficient and that the risk the central bank is taking on is appropriate in the current economic climate. Frank said he has discussed the program with Timothy F. Geithner, president and chief executive officer of the Federal Reserve Bank of New York and a possible candidate to succeed Paulson as Treasury secretary.
“I talk to Geithner and he was pretty sure that they’re OK,” said Frank, a Massachusetts Democrat. “If the risk is that the Fed takes a little bit of a haircut, well that’s regrettable.” Such losses would be acceptable, he said, if the program helps revive the economy.
Translation: Go back to sleep America.
Remember everybody NEVER question motives only competence.
November 10, 2008 at 8:28 AM #302519ArrayaParticipantIn an interview Nov. 6, House Financial Services Committee Chairman Barney Frank said the Fed’s disclosure is sufficient and that the risk the central bank is taking on is appropriate in the current economic climate. Frank said he has discussed the program with Timothy F. Geithner, president and chief executive officer of the Federal Reserve Bank of New York and a possible candidate to succeed Paulson as Treasury secretary.
“I talk to Geithner and he was pretty sure that they’re OK,” said Frank, a Massachusetts Democrat. “If the risk is that the Fed takes a little bit of a haircut, well that’s regrettable.” Such losses would be acceptable, he said, if the program helps revive the economy.
Translation: Go back to sleep America.
Remember everybody NEVER question motives only competence.
November 10, 2008 at 8:28 AM #302527ArrayaParticipantIn an interview Nov. 6, House Financial Services Committee Chairman Barney Frank said the Fed’s disclosure is sufficient and that the risk the central bank is taking on is appropriate in the current economic climate. Frank said he has discussed the program with Timothy F. Geithner, president and chief executive officer of the Federal Reserve Bank of New York and a possible candidate to succeed Paulson as Treasury secretary.
“I talk to Geithner and he was pretty sure that they’re OK,” said Frank, a Massachusetts Democrat. “If the risk is that the Fed takes a little bit of a haircut, well that’s regrettable.” Such losses would be acceptable, he said, if the program helps revive the economy.
Translation: Go back to sleep America.
Remember everybody NEVER question motives only competence.
November 10, 2008 at 8:28 AM #302545ArrayaParticipantIn an interview Nov. 6, House Financial Services Committee Chairman Barney Frank said the Fed’s disclosure is sufficient and that the risk the central bank is taking on is appropriate in the current economic climate. Frank said he has discussed the program with Timothy F. Geithner, president and chief executive officer of the Federal Reserve Bank of New York and a possible candidate to succeed Paulson as Treasury secretary.
“I talk to Geithner and he was pretty sure that they’re OK,” said Frank, a Massachusetts Democrat. “If the risk is that the Fed takes a little bit of a haircut, well that’s regrettable.” Such losses would be acceptable, he said, if the program helps revive the economy.
Translation: Go back to sleep America.
Remember everybody NEVER question motives only competence.
November 10, 2008 at 8:28 AM #302600ArrayaParticipantIn an interview Nov. 6, House Financial Services Committee Chairman Barney Frank said the Fed’s disclosure is sufficient and that the risk the central bank is taking on is appropriate in the current economic climate. Frank said he has discussed the program with Timothy F. Geithner, president and chief executive officer of the Federal Reserve Bank of New York and a possible candidate to succeed Paulson as Treasury secretary.
“I talk to Geithner and he was pretty sure that they’re OK,” said Frank, a Massachusetts Democrat. “If the risk is that the Fed takes a little bit of a haircut, well that’s regrettable.” Such losses would be acceptable, he said, if the program helps revive the economy.
Translation: Go back to sleep America.
Remember everybody NEVER question motives only competence.
November 10, 2008 at 9:32 PM #302493CA renterParticipantThey claim that we have a “confidence” problem because nobody can be trusted.
Then, they attempt to hide all the relevant details from the public (and other financial firms) by not disclosing what the Fed is holding and by trying to eliminate “mark to market” rules that show the true value of assets.
Naturally, “confidence” is not the problem. Insovlency is.
Looks like everyone is insolvent at this point.
November 10, 2008 at 9:32 PM #302854CA renterParticipantThey claim that we have a “confidence” problem because nobody can be trusted.
Then, they attempt to hide all the relevant details from the public (and other financial firms) by not disclosing what the Fed is holding and by trying to eliminate “mark to market” rules that show the true value of assets.
Naturally, “confidence” is not the problem. Insovlency is.
Looks like everyone is insolvent at this point.
November 10, 2008 at 9:32 PM #302863CA renterParticipantThey claim that we have a “confidence” problem because nobody can be trusted.
Then, they attempt to hide all the relevant details from the public (and other financial firms) by not disclosing what the Fed is holding and by trying to eliminate “mark to market” rules that show the true value of assets.
Naturally, “confidence” is not the problem. Insovlency is.
Looks like everyone is insolvent at this point.
November 10, 2008 at 9:32 PM #302881CA renterParticipantThey claim that we have a “confidence” problem because nobody can be trusted.
Then, they attempt to hide all the relevant details from the public (and other financial firms) by not disclosing what the Fed is holding and by trying to eliminate “mark to market” rules that show the true value of assets.
Naturally, “confidence” is not the problem. Insovlency is.
Looks like everyone is insolvent at this point.
November 10, 2008 at 9:32 PM #302937CA renterParticipantThey claim that we have a “confidence” problem because nobody can be trusted.
Then, they attempt to hide all the relevant details from the public (and other financial firms) by not disclosing what the Fed is holding and by trying to eliminate “mark to market” rules that show the true value of assets.
Naturally, “confidence” is not the problem. Insovlency is.
Looks like everyone is insolvent at this point.
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