Excerpt from this article found on Mish’s blog:
The policy of the Fed and Treasury amounts to little more than obligating the public to defend the bondholders of mismanaged financial companies, and to absorb losses that should have been borne by irresponsible lenders. From my perspective, this is nothing short of an unconstitutional abuse of power, [...]
Posts on ‘November 24th, 2009’
Hussman: Fed Engaging in Unconstitutional Abuse of Power
Glenn Beck on The CRU Hack
I’m not a big Glenn Beck fan, not so much because of the content (since I too am puzzled by many of the same things presented in his recent “questioning” series), but rather I’m not a fan because of the entertainment/drama meets news thing. Regardless, this was worth posting.
