Make Them Stop

I have CNBC on since they seem to have the inside skinny on Citigroup and I am waiting to hear when the offering will be. The nonsense that comes out of the talking heads mouth makes my head hurt. In the past half hour I heard the following:
  • Someone said that auditing the Fed will stop Ben Bernanke from being able to fight inflation. Are you shitting me? Ben Bernanke has as much interest in fighting inflation as Tiger Woods has in monogamy.
  • Maria Bartiromo said that its a contradiction that the government wants Citigroup to raise capital and lend money. Don't you need capital to lend money?
We had another boring day where all the action happened overnight and we drifted sideways all day. Have a good night.

1 comment:

Market Owl said...

Fed independence is one of those ideals that sounds good on paper but when you look under the veil, the Fed bankers are all a bunch of money printers, providing implicit puts for the market and banks. Inflation will be out of control soon enough. Probably 2012 or 2013.