Federal Reserve Capital LLC; Ben Bernanke Earning Your 2 and 20 With Daily Short Covering Diligence
Will someone audit these clowns already please?
From David Rosenberg's piece today:
"When people kid around that the Fed has become another hedge fund now that it is the lender of first, second and last resort — to mention the market-maker for everyone including RVs and mobile homes — it really is no joke at all. See NY Fed in Hiring Spree as Assets Soar. The New York Fed is seeking to bolster its staffing of traders — not research staff, but traders — by nearly 70%!! When will the Fed start hiring investment bankers? That is what we would like to know."
It used to be Loeb and Einhorn scheming and cross-posting on VIC (we jest, the politically correct word here is collaborating). Now it is Bernanke and Blankfein.