Tune in to See Ben Bernanke Destroy the Economy this Weekend
As if Pi Day isn't excitement enough, this weekend also brings us the television event of a lifetime.
You'll laugh. You'll cry. The market's gyrations will make you vomit your last can of beans. You'll fall in love all over again…
Federal Reserve Chairman Ben Bernanke's taped interview with CBS' "60 Minutes," scheduled to air this Sunday, is unusual not only because it's the first television interview with a Fed chairman in 20 years. It also appears to violate the Fed's blackout practice, in which members of the Federal Open Market Committee are usually silent most of the week before and after an FOMC meeting.
See, the FOMC meets next week. In normal times its members are kept in hermetically sealed tanks for several days before and after each meeting so as not to spook investors, who will jump off a cliff if a member of the FOMC sneezes.
Given how easily the market has spooked itself lately, you'd think Bernanke would keep a lid on it for one more week. But no, Mr. Bearded Diva here even invited the 60 Minutes crew to follow him to the small South Carolina town where he was raised. I guess that's safe enough, some homey visuals. Nothing there that could put the markets in a sour mood…
DILLON, S.C. — Travis Jackson walks through his modest ranch house, admiring the kitchen's built-in spice rack and the red-oak floors. He draws back the curtains, and sunlight illuminates the pride on his face.
The young banker just bought Federal Reserve Chairman Ben Bernanke's childhood home at a foreclosure sale.
Right, well, except that.
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I will respect Bernanke the day he says that banks will no longer be allowed to leverage themselves 50 to 1 *and* he must actually enforce this. Until that day, this "Great Depression Scholar" is a fool.
it's not enough i am poor, or get paid for typing but now you have give me homework as acknowledgement you mock me for not having a life; just you wait till they shut off my tv who will have the good time then!