• Federal Reserve = Comedy Gold

    Earlier today, we got a glimpse at the 2007 transcripts of Federal Open Market Committee meetings. As always, the transcripts are replete with "[LAUGHTER]" tags to indicate when the world's most important economic actors broke into giggles while discussing the fate of the global marketplace.

    Let's see if Ben Bernanke told any 'Yo Mama' jokes, shall we?

    Sorry, he didn't. But there are puns:

    MR. FISHER: The situation remains real, but we've gone beyond suspended reality. If you will forgive me, you might say we have gone  from the ridiculous to the subprime.

    MR. LACKER: Let the transcript say "groan." [Laughter]

    There are burns:

    VICE CHAIRMAN GEITHNER: I just want to start by saying in defense of the Empire  State that there is no way– the only way that Richmond could be bigger than New York and  Philadelphia is if you don't count the substantial business we have in the manufacturing of financial  products.

    MR. KOHN: It's a lot smaller business than it used to be. [Laughter]

    There are old people laughing at unfunny things:

    CHAIRMAN BERNANKE: Is the sale of a used truck to Russia an export or a capital inflow? [Laughter] Think about that one.

    Maybe Ben Bernanke doesn't know any 'Yo Mama' jokes. For the future, Ben: "Yo mama so fat, even Ron Paul thinks she's too big to fail."

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    Photo by Mark Wilson/Getty Images News/Getty Images

    Tags: Ben Bernanke, Economy, Federal Reserve, Timothy Geithner


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