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Another Republican Criticises The FED And Sounds Armageddon Alarm (What Else Is New?)

Friday, May 10, 2013 - 7:28 AM
Dear Readers,

Here is an article from Bloomberg which shows how yet another republican is criticising the FED.
http://www.bloomberg.com/news/2013-05-10/sec-s-gallagher-wants-the-fed-back-in-its-regulatory-box.html

 

Mostly the critique was centered around the authority the FED is exerting that was granted to it under Dodd-Frank.  ... How very typical ... Criticising the agency for peforming what is required by the law. :=)

And like a good republican (!) Mr Gallagherof course could not help himself but go beyond speaking about what is known and moved on to wild speculation, and sure enough he too sounded the Armageddon Alarm. :-)

 
Most recently, Gallagher expanded his criticism of the Fed beyond its regulatory mission. He maintains that bond investors need to be aware of perils they may face when the Fed stops juicing the economy through so-called quantitative easing.

For example, if some municipalities default on their bonds and interest rates spike, “we’ve got a real Armageddon on our hands here,” Gallagher said at an April 16 SEC roundtable discussion about fixed-income markets.
 


Yes ... of course ... Armageddon because of the FED ...  Sure ... We are waiting and waiting and waiting ... No Armageddon yet!

Yours Truly,
- Anon
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ytytytytytytytyt158 posts since
Jan 28, 2013
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