Tuesday, Dec 16, 2008
The Fed isn't a branch of government, Barry!
FT: Fed slashes rates to near zero
President-elect Barack Obama told reporters "Although the Fed is still going to have more tools available to it, it is critical that the other branches of government step up.”
Posted by gardeniadotnet @ 09:30 PM (494 views) Add Comment
7 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. gardeniadotnet said...
By February, the Fed is also going to begin buying credit card debt and student loans. Under this plan, the Treasury is assuming the risk of loss while the Fed is making the purchases.
"Adding "$100 billion here and $100 billion there strategically injected into the right places" can have a big impact, said Steve Stanley, chief economist at RBS Greenwich Capital.
I'm sure it can Steve, I'm sure it can.
2. gardeniadotnet said...
Goldman Sachs Group Inc., which got $10 billion and debt guarantees from the U.S. government in October, expects to pay $14 million in taxes worldwide for 2008 compared with $6 billion in 2007.
The company’s effective income tax rate dropped to 1 percent from 34.1 percent, New York-based Goldman Sachs said today in a statement.
Dec. 16 (Bloomberg)
3. Maihem said...
He's setting the stage for nationalisation of the Federal Reserve Bank. I bet the owners will be wanting to have a word with him about that speech.
4. bellwether said...
you seem to be talking to yourself gardeniadotnet
5. gardeniadotnet said...
I'm not talking bellwether, I'm teaching.
6. rumble said...
Your propagation needs to take into account the exponential growth of resources; either doubling time or hands/automation tech investment are also going to grow exponentially. Land too. More charts.
7. gardeniadotnet said...
You're right rumble. For what it's worth, I'm satisfied I've addressed all the issues you have raised. I'm going to present my findings in detail when I think the time is right.