Oddly appropriate

If you’ve ever wondered why TPM is in my blogroll, it’s because stories like this pop up there: Apparently the Federal Reserve, in the course of flushing billions down the toilet for the benefit of AIG — which, in turn, comes out to benefit a handful of foreign banks — took a page out of the Enron playbook

Read the whole thing.  Note, in particular, how blatantly the Fed violates the rules meant to restrain it.  How anyone can witness this type of activity without concluding that this institution just plain is not fucking worth it is a puzzle for the ages.

Advertisements

About b-psycho

Left-libertarian blogger & occasional musician.
This entry was posted in economics, random shots. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s