Fed Policy: Another Wealth Transfer to Wall Street

CNS News ^ | 11/9/2010 | Charles Goyette

[Liz]

Ben Slalom Bernanke's gonna follow his boss down the slopes (/snix).

[CutePuppy]

Unfortunately, the problem is that Bernanke and the Fed are but the latest in the long line of scapegoats used by the recidivist politicians as diversion tactic in an attempt to explain away their own fiscal malfeasance of the tax-borrow-spend-mandate-and-overregulate spree in the last "lost decade".

Here's what Bernanke and the Fed are really trying to do:
http://www.freerepublic.com/focus/news/2623223/posts?page=139#139 - FR, 2010 November 09

Keynesian / Krugmanian "government stimulus spending is never big enough" fiscal policy and anti-competitive laws (e.g., Sarbox and Dodd-Frank) and regulations that starve U.S. private sector of capital and incentives have been practiced for too long by both parties cannot be fixed by any monetary policy or any central bank. It didn't work in Iceland, Greece, Ireland etc. despite ECB's "stringent" deficit ratios requirements.

On the other hand, the entire $800B+ shovel-ready "Pork-stimulus" should be considered a theft and "shoveled" right back at them where the sun doesn't shine.