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The Fed : Democracy Steps Aside March 19, 2009

Posted by aetiusromulous in Economics, news, politics, Video, YouTube.
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Ben Bernanke Siezes The Moment

The Obama administration is quickly descending into confusion, as political distractions plague an urgent fix for economic meltdown. The Federal Reserve Bank has stepped into the breach, volunteering on its own to explode its balance sheet and print the money necessary while the Treasury branch remains under siege.
Typically economic policy is designed and driven by Treasury, but with the insane firestorm over bonuses and politics, the historic, massive, and complex nature of the problems, and a severe lack of senior staff, the Treasury has gone AWOL at exactly the time it is needed most.
The Fed answers to no one, and its unilateral actions yesterday – taken on a scope of breathtaking proportion – can only mean confusion and desperation are gripping the highest levels of power on the planet.

If the message is anything, it’s that there is no longer time for the delicacies of democracy.

 

 

 



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