1. Monday, February 4, 2013 - 2:04 AM
Hey cumulus, maybe the referee who didn't call the pass interference on the last play of the game.
In case you didn't get your fill of prophetic quotes by our Fed Svengali (Bernanke), here are a few more:
(January 18, 2008) "[The U.S. economy] has a strong labor force, excellent productivity and technology, and a deep and liquid financial market that is in the process of repairing itself."
(November 15, 2005) "With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use them properly."
(January 10, 2008) "The Federal Reserve is not currently forecasting a recession." (Unbeknownst to our Fed genius, we were already in a recession)
"The GSEs are adequately capitalized. They are in no danger of failing." (Two months before Fannie Mae and Freddie Mac collapsed and were nationalized)
In case you didn't get your fill of prophetic quotes by our Fed Svengali (Bernanke), here are a few more:
(January 18, 2008) "[The U.S. economy] has a strong labor force, excellent productivity and technology, and a deep and liquid financial market that is in the process of repairing itself."
(November 15, 2005) "With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use them properly."
(January 10, 2008) "The Federal Reserve is not currently forecasting a recession." (Unbeknownst to our Fed genius, we were already in a recession)
"The GSEs are adequately capitalized. They are in no danger of failing." (Two months before Fannie Mae and Freddie Mac collapsed and were nationalized)
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