Daily Archives: July 16, 2011

Pete the Banker: Fed Chair Bernanke in Dangerous Territory

This is another admission by Bernanke that the Fed is treading in dangerous territory and while the odds may be with them; there exists significant potential that their actions will cause more harm than good.  It seems that both the Fed and the Treasury at this point are really clueless when it comes to the potential results of their actions on the economy.

Look at this from Housing Wire (here):

“Christopher Whalen with Institutional Risk Analytics responded to Bernanke’s Wednesday comments saying, “The FOMC cannot leave rates at current levels or the financial system will collapse. The cost-benefit tipping point on ZIRP has long since been passed.”
 Bernanke, himself, conceded in front of lawmakers Wednesday that further easing may be necessary to breath life into the markets, while also admitting the approach could create unforeseen consequences.
“Our experience with these policies remains relatively limited, and employing them would entail potential risks and costs,” he said. “However, prudent planning requires that we evaluate the efficacy of these and other potential alternatives for deploying additional stimulus if conditions warrant.”

Tell ’em where you saw it. Http://www.victoriataft.com

Obama WH on Interviews: "We’d Prefer You Skip Fox, Please"

I thought there wasn’t a red America or a blue America, I thought there was a United State OF America.* Oh, wait, there’s just no Fox News in America. Well, that’s ok, then.

We’d prefer if you skip Fox please,” a White House broadcast media staffer advised a Treasury Department public affairs secretary ahead of the interview. In other emails during the same time frame, deputy White House communications director Jennifer Psaki called Fox News anchor Bret Baier “a lunatic” and boasted that “I am putting some dead fish in the fox cubby–just cause.” In yet another email, another White House press officer wrote: “We’ve demonstrated our willingness and ability to exclude Fox News from significant interviews …”

Proof of an anti-Fox agenda in the Oval Office? Judicial Watch thinks so. Here’s the story. Surprise! Not.

Tell ’em where you saw it. Http://www.victoriataft.com