The public lives in sound bites and does not read Bloomberg. Most only have a vague idea what they Fed does. Besides they are not talking about it on Fox and Friends, so it can’t be that important.
Funniest line from the article…
In response to Bloomberg’s request, the Fed said the U.S. is facing “an unprecedented crisis” in which “loss in confidence in and between financial institutions can occur with lightning speed and devastating effects.”
So transparency will cause a loss of confidence. Hmmm….. They can’t hide those assets for ever. There will be a day of reckoning…
