Fed Almost Certainly Giving Serious Thought To Economy, Now: Seven And A Half Things To Know

Fed Almost Certainly Giving Serious Thought To Economy, Now: Seven And A Half Things To Know

"Poor Timmy Geithner gets no respect! Here he is, in charge of the very important Financial Stability Oversight Council, the clown college of regulators that watches over our banking system, such an important position of serious importance that he has to testify about it not once but twice this week in Congress, starting today.
..And yet all that the mean congresspeople are probably going to ask him about is his failure to keep an eye on rampant Libor manipulation when he was in charge of the New York Fed before and during the crisis. Poor Timmy...
But, eh, who cares, really? This whole thing about waiting for the Fed to make interest rates negative bazillion-point-zero is kind of a pointless exercise, when Congress now has the bulk of the power to jolt the economy back to shambling life, but it stubbornly refuses to because Obama is a Socialist, while Obama refuses to press Congress on it because he is Herbert Hoover with a better singing voice. Only there's no FDR waiting in the wings, just Mitt Romney, with the zombie economics team of George W. Bush, waiting to finally finish off the economy they only managed to half-destroy."