"There will be 3 Fed Heads speaking today... Fed Speak will be all over the place... Yesterday, we had Fed Head Lacker doing the Fed Speak...Lacker believes he sees a "risk of a mild recession." and that more rate cuts are possible, and may be necessary... I say HOGWASH! Quit giving in to the markets, and trying to save a couple of financial institutions that should be strung up and put on public display for their handling of the mortgage bubble...the Fed is out of control... They are laying the groundwork for the next bubble, and it's called inflation!" Chuck Butler, Everbank.com, The Daily Pfennig, Feb. 6, 2008
06 February 2008
Quote of the Day from a Favorite Banker
"There will be 3 Fed Heads speaking today... Fed Speak will be all over the place... Yesterday, we had Fed Head Lacker doing the Fed Speak...Lacker believes he sees a "risk of a mild recession." and that more rate cuts are possible, and may be necessary... I say HOGWASH! Quit giving in to the markets, and trying to save a couple of financial institutions that should be strung up and put on public display for their handling of the mortgage bubble...the Fed is out of control... They are laying the groundwork for the next bubble, and it's called inflation!" Chuck Butler, Everbank.com, The Daily Pfennig, Feb. 6, 2008
