When the banks got bailed out, people were reasonably upset — why should huge corporate banks be given public money to recover from the disaster of their own greed and incompetence? Others argued that letting those banks fail would send the economy into a further tailspin. Either way, it happened, and that was that.…
Congressman Ron Paul says it's a "possibility" that there's no gold at Fort Knox or the New York Fed. He may be right about the latter: The bad guys in Die Hard 3 did steal a lot of that gold.
Poor Treasury secretary Tim Geithner. The lifetime government official has never worked for evil Goldman Sachs, but no one will believe him. Will he ever be able to shed this Goldman taint?
Columbia University President Lee Bollinger will chair the New York Fed's board of directors.
The new chairman of the New York Fed is not a banker or financier! It is Denis Hughes, the president of the New York State AFL-CIO. And the deputy chairman is Columbia University President Lee Bollinger! Crazy! [WP]
