Frontrunning: March 31

  • Former Bernanke colleage and co-author Vince Reinhart: "Geithner and Bernanke Are Wrong about Fed Power. Letting the Federal Reserve keep a hand in bank supervision and regulation is a mistake."  (The American) Please read : Monetary Policy Alternatives at the Zero Bound: An Empirical Assessment Author(s): Ben S. Bernanke, Vincent R. Reinhart, Brian P. Sack Source: Brookings Papers on Economic Activity, Vol. 2004, No. 2 (2004), pp. 1-78, in which the authors (among whom is Brian Sack, head of the Fed's trading desk) recall the golden days of Roosevelt's dollar devaluation, and hint at what's to come for the US currency
  • The Greek ex-Goldman guy who just blew up the 12 Year fly by is now preparing to issue $16 billion in dollar denominated bonds by early May. Ah yes, nobody can see behind the ruse of issuing bonds in the world's worst currency. Brilliant. Here's the funny part - Tim Geithner plans to issue $16 trillion denominated in Greek Drachma (Bloomberg)
  • Emerging market currencies show short-term cracks (Reuters)
  • Gartmore may face withdrawals after investigation (Bloomberg, Telegraph)
  • Steve Forbes: "President Obama and Speaker Nancy Pelosi rammed ObamaCare through the House by unprecedented parliamentary trickery, bribery and deceit." (Forbes)
  • Obama to permit oil exploration off Virigina coast (Reuters)
  • Bill Clinton's $20 million break up with Ron Burkle (Daily Beast)
  • iPad sales anyone's guess as analysts skip estimates (Bloomberg)
  • Macarthur coal rejects Peabody's $3 billion bid (Reuters)
  • Fraud on the street: Where on earth has the SEC been (Robert Reich)
  • Natural gas ETF flaming out versus oil (Fundmastery)
  • Man plunges to death from 66th floor of Empire State Building (WSJ)
  • The case for higher real rates (Morgan Stanley)
  • Rahn: Learning from Switzerland (Washington Times)


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