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National Review Online "The Corner" has a good post regarding Bernanke's justification for his current QE2 policy: Author J.D. Foster is right: Why won't Bernanke just be transparent on this?
Toggle Commented Nov 15, 2010 on End The Fed! at MASON CONSERVATIVE
Although this is a simplistic explanation of what has been going on in the "upper echelons" of the government...I tend to think it's not that far from the general terms. But what this cartoon fails to point out is that Timothy Geithner, our current Treasury Secretary, was himself the president of the Federal Reserve Bank of New York from November 17, 2003 – January 26, 2009...he was in the middle of the whole Lehman Brothers/Bear Stearns fiasco. (!!) He replaced Henry Paulson, formerly of Goldman Sachs, as Treasury Secretary by none other than our very own Monsieur le President Barack Obama. Ben Bernanke replaced Allen Greenspan as head of the Federal Reserve. As far as I can tell, Bernanke has no connection to Goldman Sachs. But Geitner does based on what went down when he headed FRB NY. Although funny, this cartoon is obviously a hit job on Bernanke yet it steers clear of Geithner...and so doesn't meet the smell test for me.
Toggle Commented Nov 15, 2010 on End The Fed! at MASON CONSERVATIVE