Wednesday, July 22, 2009


Two Ironic CNBC Headlines

In case you're wondering, the only reason I torture myself by going to 5x a day is that I check the price of gold, and I continue to wait for the dollar to crash. But then when I'm there, I can't help but look at the headlines.

For example, right now I read that Bernanke says there should be no audit of the Fed, lest the venerable institution's independence is compromised by political factors.

Another headline reads: "Only Fed Fit to Do Systemic Exams."

If I were running the PR on a big investment bank, I'd take out full-page ads in the Wall Street Journal saying, "Mr. Bernanke, don't want your mission to be compromised by interference from Congress? Our shareholders know how you feel."

It wouldn't do any good, of course, since government officials are the most transparent hypocrites around (with the possible exception of televangelists). But it would be funny.

Okay, but ... wouldn't you first have to find a big investment bank that didn't need, and receive, support from Congress or the Fed to avoid bankruptcy?

Come on Bob, the CEOs of America's biggest banks are not Midas Mulligans, and Rick Wagoner is not a Hank Rearden.
Totally OT, but I thought I'd bring something up that's a not infrequent topic here on "Free Advice": conspiracy theories. Or to be fair and more precise, refusing to blindly accept official government and media explanations for everything.

Here's an interesting post that puts the recent dealings with the Uighurs in Guantanamo, and the Uighurs in China, along with the history of CIA operations in China, into perspective:
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