Day: June 15, 2009

Still Wondering If The Federal Reserve Should Be Abolished?

On Wednesday, TurboTax Timmie and his crew are going to unveil the new financial regulation reforms that they have been talking about since he was installed as Treasury Secretary by the 111th Congress. If, after reading the next two stories, you still think the Federal Reserve should not be abolished for being the #1 instigator in our economic woes, then I pity you and your declining standard of living. Plan extends Fed's power over companies The Federal Reserve, already arguably the most powerful agency in the U.S. government, will get sweeping new authority to regulate any company whose failure could…
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A Tale Of Two Policy Events

On the surface, Lloyd's Bank shutting down American's bank accounts, and the transfer of the four Chinese Muslim Uighurs to Bermuda without so much as a "by your leave" to Britain, lacks any similarity, until of course, you read the fine print. These two events have stemmed from two completely different policy stances by the current resident in the White House.  First, closing Gitmo, and second, chasing down tax evaders, (excepting, of course, his cabinet.  Can we fire congress and bambi yet?). Go here to catch up on what the British banks told Bambi to do back on May 25th,…
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Durbin’s Insider Trading?

I saw this news item this morning, but it has been one hectic day and I just have not gotten a chance to ask you, "What would you call it?"...and, "How many others inside the beltway profited from this information?" Durbin cashed out during big stock collapse WASHINGTON | Asset sales came after meeting with Fed, Treasury chiefs As U.S. stock markets plummeted last September, the Senate's No. 2 Democrat, Dick Durbin, sold more than $115,000 worth of stocks and mutual-fund shares and used much of the money to invest in Warren Buffett's Berkshire Hathaway Inc. The Illinois senator's 2008…
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