FLASH: Fed Speaking Out Both Sides Of Mouth
The Market Ticker - Commentary on The Capital Markets
2008-09-24 15:34 by Karl Denninger
in Federal Reserve , 80 references Ignore this thread
FLASH: Fed Speaking Out Both Sides Of Mouth*
 

The Fed has claimed that this is a "liquidity crisis."

Really Ben? Then perhaps you can explain this?

Note that this is an intentional drain of "slosh", or liquidity, from the banking system. $125 billion in the last four days drained?

You wouldn't be trying to intentionally cause a bank failure or two to bolster your call for the $700 billion "bailout" plan, or perhaps intentionally lock the short-term credit markets, would you Ben?

If the market has a liquidity crisis, why would you be intentionally draining reserves from the banking system? Don't you think you ought to explain that to Congress?

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