Representative Ron Paul, the Republican congressman who hated the Federal Reserve before hating the Federal Reserve was the fashionable thing to do, is now in charge of overseeing the Fed. Bloomberg reports that Mr. Paul will be conducting a few hearings on monetary policy and plans to renew his efforts Read More
There is now a poll whose numbers back massive anecdotal evidence that the Federal Reserve is enormously unpopular and that many of its detractors are fed up enough to advocate its abolition. Bloomberg undertook a nationwide poll of 1,000 Americans conducted from Dec. 4 through 7.
Americans across the political spectrum Read More
Federal Reserve Chairman Ben Bernanke’s many critics should take comfort in the fact that he’s one of the least expensive central bankers on the planet. For all his controversial extraordinary monetary maneuverings, Bernanke makes a mere $196,700 a year, according to Bloomberg.
In contrast, Britain’s Mervyn King takes home nearly half a million Read More
Fun With Numbers
Heeding some journalists‘ dismay at the sheer volume and complexity (we are not exempt from these feelings) of today’s big Federal Reserve bailout disclosure, The Huffington Post has bravely decided to “liveblog” the tedious process of combing through the piles of data, and keeping up with other outlets’ revelations.
The result Read More
The Federal Reserve’s $3.3 trillion in bailout maneuvering during the past three years of financial apocalypse has been complicated, and so it’s difficult to isolate one particular “winner” from the many, many institutions who benefited from the central bank’s largesse. But let’s give it a shot anyway.
According to Bloomberg, “Bank of America Read More
Congress has instructed the reluctant Federal Reserve to reveal the details of its $3.3 trillion in assorted emergency transactions during the credit crisis, and today we get to find out who were the lucky winners of the Great Central Bank Bailout Sweepstakes of 2007 and Beyond. (For perspective, under the much-maligned TARP, the Read More