Wednesday, June 17, 2009
Obama to Limit Fed Lending Power, Grant Systemic Role
"...would force the central bank to get written approval from the Treasury secretary before using the authority"
End game. It's over. Don't see much good in the future for the U.S. unfortunately. Invest in China if you want to get rich. (Check out my Special Report on China.)
Obama has "caved" to the Austrians and the "hard money" crowd. Wait till you see the financial panics we are going to have now.
Read story here.
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3 comments:
Mike,
Can you give a link to a story here? What exactly happened?
-jcmccutcheon
Check it now.
But here's the link.
Read the story. Seems at the very least contradictory to make the Fed the systemic regulator but then to put limits on its ability to deal with systemic events.
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