Saturday, December 05, 2009

Tentacular Federal Reserve?

Our own discombobulated Senator Bunning (R-KY) has, perhaps, for once called it. Bunning will soon no longer be a senator, but as a true ball player he swings for the stands.

In a tirade that may be both his epitath and long remembered, Bunning blurted out to Bernanke, " put the printing presses into overdrive to fund the government’s spending and hand out cheap money to your masters on Wall Street. In short, you are the definition of a moral hazard. You are repeating the same mistakes as Japan in the 1990’s on a much larger scale while sowing the seeds for the next bubble. The AIG bailout alone is reason enough to send you back to Princeton. I will do everything I can to stop your nomination and drag out this process as long as I can. We must put an end to your and the Fed’s failure and there is no better time than now. Your Fed has become the creature from Jekyll Island."


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