Posts Tagged ‘quasi-governmental agency’

Oh, So The Fed *DID* Hide Documents?

Oh, So The Fed *DID* Hide Documents?

geithnerCourtesy of Karl Denninger at The Market Ticker

From the wire:

WASHINGTON -(Dow Jones)- The special inspector general for the government’s $ 700 billion Wall Street rescue plan is opening a pair of probes into the government’s rescue of American International Group Inc. (AIG), including efforts to slow public disclosure of all of the terms of the deal….

Additionally, Barofsky said he is reviewing the cooperation of the Federal Reserve with his staff’s attempt to conduct an audit of the AIG transactions. Some of the documents recently turned over to the Oversight panel "were not provided to the SIGTARP audit team during the course of the audit."

This is all anyone should need to call for The Fed to be fully audited now and on an ongoing, permanent, annual basis, along with seeing if there is a criminal charge we can locate that fits this (obstruction perhaps?)

Darrell Issa seems to have this one right:

The report, prepared by staff for Rep. Darrell Issa (R., Calif.), calls the central bank a "quasi-governmental agency, unaccountable to the American people." The Fed’s actions during the AIG rescue, including the effort to withhold the names of the insurer’s counterparties, "demonstrates the threat that the Federal Reserve poses to basic principles of American democracy," the report concludes.

Let’s not forget who was running the NY Fed at the time, and what job he holds now.

Oh Timmy?  TURBOTAX TIMMY!

Yeah you. 

I look forward to seeing you in the dock and while you’re in there let’s toss Bernanke in with you – I don’t believe for a second that he wasn’t both aware of and signed off on what you were up to there in New York.

FEDGATE!

 


Tags: , , , , ,




 
 
 

Phil's Favorites

Can vaccinated people still spread the coronavirus?

 

Can vaccinated people still spread the coronavirus?

Vaccinated people are wondering whether they can ease social distancing and mask-wearing. AP Photo/Darko Bandic

Courtesy of Deborah Fuller, University of Washington

Editor’s note: So you’ve gotten your coronavirus vaccine, waited the two weeks for your immune system to respond to the shot and are now fully vaccinated. Does this mean you can make your way through ...



more from Ilene

Biotech/COVID-19

Can vaccinated people still spread the coronavirus?

 

Can vaccinated people still spread the coronavirus?

Vaccinated people are wondering whether they can ease social distancing and mask-wearing. AP Photo/Darko Bandic

Courtesy of Deborah Fuller, University of Washington

Editor’s note: So you’ve gotten your coronavirus vaccine, waited the two weeks for your immune system to respond to the shot and are now fully vaccinated. Does this mean you can make your way through ...



more from Biotech/COVID-19

Zero Hedge

For Bonds, This Is Now The Second Worst Bear Market In 40 Years

Courtesy of ZeroHedge View original post here.

Last December, we predicted that the US was heading for a "titanic taper tantrum" in 2021, to an extent as a result of a sharp drop in bond demand as a result of reduced bond purchases by the Fed but also due to a spike in inflation which would lead to a sharp drop in demand for duration.

So fast forward to this week when the crash in US Treasurys, and especially the belly of the curve led by a plunge in 5Y prices...

...

more from Tyler

ValueWalk

There's A "Chip" Shortage: And TSM Holds All The Cards

By Mauldin Economics. Originally published at ValueWalk.

“You drove 1,000 miles just for this game?” Christmas 1988 was a stressful time for many American parents. Nintendo’s Super Mario Bros. 2 was the must-have toy that year. But copies of the hit videogame were as scarce as hen’s teeth.

Q4 2020 hedge fund letters, conferences and more

ABC News ran a 20/20 special on the shortage called “Nuts for Nintendo.” They chatted to one dad who drove 1,000 miles from Indiana to NYC in the hopes of grabbing a copy.

“I’ve tried 7 stores a day for 3 weeks and sti...



more from ValueWalk

Politics

What is fascism?

 

What is fascism?

A Donald Trump supporter wears a gas mask and holds a bust of him after he and hundreds of others stormed the Capitol building on Jan. 6, 2021. Roberto Schmidt/AFP via Getty Images

Courtesy of John Broich, Case Western Reserve University

Since before Donald Trump took office, historians have debated whether he is a fascist.

As a teacher of World War II history...



more from Politics

Chart School

The Fastest Money

Courtesy of Read the Ticker

The fast money happens near the end of the long trend.

Securities which attract a popular following by both the public and professionals investors tend to repeat the same sentiment over their bull phase. The chart below is the map of said sentiment.







Video on the subject.







Charts in the video


Click for popup. Clear your browser cache if image is not showing.





Click for popup. Clear your b...



more from Chart School

Digital Currencies

Bridgewater Explains When It Will Invest In Bitcoin

Courtesy of ZeroHedge

Two weeks ago, Bridgewater founder Ray Dalio called Bitcoin "one hell of an invention" adding that:

"I expect Bridgewater to soon offer an alt-cash fund and a storehold of wealth fund in order to better deal with the devaluation of money and credit that we consider to be a major risk and opportunity, and Bitcoin won’t escape our scrutiny.”

And now, after significant attention that his comments received, Senior Portfolio Strategist Jim Haskel sits dow...



more from Bitcoin

Kimble Charting Solutions

Is Rising Inflation About To Hit U.S. Economy In Big Way?

Courtesy of Chris Kimble

Inflation seems to be a thing of the past… but current trading in bond and commodity markets tell us that it could become a thing of the future!

Inflation hasn’t been an issue, or even on our radar, since the 1980s. Sure, the 2007 surge in oil prices offered some concern but the financial crisis killed any thoughts of inflation.

So what’s got us concerned about inflation in 2021?

Today we take a look at long-term charts of two potential inflation indicators: Crude Oil ...



more from Kimble C.S.

Mapping The Market

The Countries With The Most COVID-19 Cases

 

The Countries With The Most COVID-19 Cases

By Martin Armstrong, Statista, Jan 12, 2021

This regularly updated infographic keeps track of the countries with the most confirmed Covid-19 cases. The United States is still at the top of the list, with a total now exceeding the 22 million mark, according to Johns Hopkins University figures. The total global figure is now over 85 million, while there have been more than 1.9 million deaths.

You will find more infographics at ...



more from M.T.M.

The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



more from Tech. Traders

Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



more from Lee

Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

http://www.insidercow.com/ more from Insider

Promotions

Free, Live Webinar on Stocks, Options and Trading Strategies

TODAY's LIVE webinar on stocks, options and trading strategy is open to all!

Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

...

more from Promotions





About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

Learn more About Phil >>


As Seen On:




About Ilene:

Ilene is editor and affiliate program coordinator for PSW. Contact Ilene to learn about our affiliate and content sharing programs.