Wednesday, October 22, 2008


$50T (as in trillion) spent on air, vapor, trust.

1 comment:

Anonymous said...

I was not aware the Fed presses anyone. I did not look it up in their mandate, but I am pretty sure its not there.

"The Fed is pressing dealers to quickly establish clearing in credit derivatives."

The Fed's role is pretty cut and dry. Where is the consultative fee income getting recorded for its pressing? Surely it could offset this disaster!