Federal Reserve exposed as a pack of giggling morons as economic collapse loomed

January 13, 2012

Just the facts here. From their own meeting transcripts, in the New York Times:

“We think the fundamentals of the expansion going forward still look good,” Timothy F. Geithner, then president of the Federal Reserve Bank of New York, told his colleagues when they gathered in Washington in December 2006.

Some officials, including Susan Bies, a Fed governor, suggested that a housing downturn actually could bolster the economy by redirecting money to other kinds of investments.

And there was general acclaim for Alan Greenspan, who stepped down as chairman at the beginning of the year, for presiding over one of the longest economic expansions in the nation’s history. Mr. Geithner suggested that Mr. Greenspan’s greatness still was not fully appreciated, an opinion now held by a much smaller number of people.

… and this:

Ms. Yellen said: “It’s fitting for Chairman Greenspan to leave office with the economy in such solid shape. The situation you’re handing off to your successor is a lot like a tennis racquet with a gigantic sweet spot.”

Click on over and read the whole sickening thing, exposing plainly that the puppetmasters pulling the strings of our economy are driveling idiots.

Then check out the reactions from around the web: ZeroHedge and Kenny Bing.

5 Responses to Federal Reserve exposed as a pack of giggling morons as economic collapse loomed

  1. Justrand on January 13, 2012 at 6:51 pm

    Our financial house of cards is sooooo near collapse!!

    But since the media is focused on making Lord Obama look good…they won’t report on it fully…or even at all.

    Goodbye Sweet America!

  2. R U in the tank for the RINO Keynesians?? on January 13, 2012 at 9:18 pm

    good post wcvarones. good to see someone can still post intellectually honest stuff on here.

  3. […] Federal Reserve!! Giggling Morons!! That is the damn […]

  4. setnaffa on January 14, 2012 at 7:07 am

    This was not a surprise to anyone who was awake. And Timmy the Tax-Cheat is just one of the bush-league players in this drama.

  5. anonymous un-RINO on January 15, 2012 at 5:50 am

    “This was not a surprise to anyone who was awake.”


    Except, none of you RINOs were awake. You were busy cheerleading for your RINO buddies, and their “ownership society” nonsense, including NINJA loans and everything else that contributed to the real estate bubble, as well as the marvelous shadow banking system that provided those wonderful CDS and derivatives that ensured that “too big to fail” was operative.

    Bush, McLiar, McConnell… all these RINO idiots were asleep, or rather, they were wide awake and cashing in, sorta like Bain Capital was cashing in, you know, crony capitalism being the only kind of capitalism that RINOs like, much like their lefty soulmates.