Busted: Bankers and The Global Economy

February 11, 2008

Fed Backs Up the FDIC while Bush Fiddles

bush-fiddles-internet.jpgThe role of abusive lending practices has become of special concern to the Fed in their publicity measures. Since the quiet admission by the FDIC on October 24 regarding abusive loan practices in the mortgage and banking industry, the Federal Reserve has recently continued to sound the alarm for the need for bankers to voluntarily change policies within the banking structure to avoid and eliminate continued banking losses, particularly based in the mortgage sector. Bankers have failed to protect borrowers with proper underwriting and protection as well as predatory loan rates. The Federal Reserve has advised tight-fisted bankers (more…)

February 5, 2008

Feeling the Silence

bernankenigelparry.jpgThe silence is noticeable. The U.S. Federal Reserve has been very quiet except for making measured changes. There is no effort to apply publicity. You could almost hear a pin drop if it were not for the din of the press. “The Reserve Bank of Australia, the Bank of England and the European Central Bank are all due to meet and dealers will be focusing on whether they are concerned about the severity of the U.S. slowdown and whether (more…)

January 16, 2008

U.S. Fed in Tough Spot

Former Federal Reserve Chairman Paul Volcker thinks the U.S. central bank is to blame for allowing bubbles to inflate asset markets, and says that current Fed chief Ben Bernanke is in a tough spot. Bernanke inherited the problem when he took the reins, but failed to take corrective action.


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