The Real Issue Behind Fed Secrecy: Lying
August 30th, 2009
How about a little honesty from commentators in the mainstream media? “Liquidity conflagrations” happen when people discover they have been lied to.
Anyone remember Bear Stearns? “We’re well capitalized” on CNBC? “Everything is fine”? Cramer’s pumping of them on his show as “safe”? Market participants in fact knew everything was not fine. There were statements flying around (that turned out to be true) that some counter-parties had begun refusing to novate deals with Bear.
Related posts:
- Oliver Stone: Free Speech is the Real Problem; Not Wall Street Solvency
- The Fed Believes Secrecy is in Our Best Interests. Here are Some of the Secrets
- Michael Pento Says Fed Will Buy Stocks And Real Estate In Its Next Attempt To Create Inflation
- Dylan Ratigan: Barack Obama Is Lying, The Banks Aren’t Even CLOSE To Repaying The Bailout
- The Banksters: Lloyd Blankfein, John Mack, Vikram Pandit, Jamie Dimon, Brian Moynihan, Et Al. Have we forgotten what lying is?
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