Free Republic

Sept. 13 (UPI) -- Federal Reserve Gov. Lisa Cook described the Atlanta condominium she bought in 2021 as a second home, according to documents reviewed by The New York Times and The Washington Post. A filing from May 2021 listed the property's use as a "vacation home" and a December 2021 form she provided to the Biden administration called the condo a second home, the Washington Post reported. She submitted the December document after President Joe Biden nominated her to join the Federal Reserve's Board of Governors. A similar review by The New York Times reaches the same conclusions but...

Key quote from this interview (must-see!): "If the Fed examiners were set upon the Fed's own documents—unlabeled documents—to pass judgment on the Fed's capacity to survive the difficulties it faces in credit, it would shut this institution down," he said. "The Fed is undercapitalized in a way that Citicorp is undercapitalized." This guy is not a "nobody" either - he's a major force in the bond market, editor of a very well-recognized publication since 1983. Ignore him at your peril. Yeah, I know, The Fed issued some new disclosure today. It of course shows them "well-capitalized". So did Bear Stearns'...