• News

    Congress Wants To Be A Thorn In The Side Of The Fed- Permanently

    If Ben Bernanke thought he could keep the Fed (semi)-independent of the rest of Washington, he may get a rude awakening soon. Congress is looking to provide the GAO with the authority to audit all of the Fed’s activities. The thought of greater Congressional scrutiny has to make Bernanke reach for the Pepto and hope […]

    / Jun 5, 2009 at 3:53 PM
  • News

    Even The Bunker Goes Under

    Passing by almost unnoticed today is the news that the Greenbrier, the famous White Sulphur Springs resort retreat for Congress and whose Presidential Suite has been the host of every President since Dwight Eisenhower, has slipped quietly under the dark waves of insolvency. The Greenbrier Hotel Corporation (GHC), owner of The Greenbrier resort in White […]

    / Mar 19, 2009 at 11:35 AM
  • News

    No Rest For The Wicked

    That’s you, not the CEOs, by the way. Since CSPAN has gotten back on the ball, and therefore we don’t have to watch CNBC to follow it, we continue our snide coverage: Ok guys, who believes nicotine is not addictiveyou will pay back the TARP money and need no more funds? [Everyone]: Yes, but we […]

    / Feb 11, 2009 at 3:50 PM
  • News

    SEC Replies: Madoff Hearings Part II Liveblogged

    Wow. It’s going to be hard to pull out of the mudpit left by the artillery barrage Markopolos just adjusted onto their heads, but the SEC is going to try, damnit. Written statements (which are almost universally useless) are read into the record. These consist of: Four descriptions of what the SEC does. (None compelling) […]

    / Feb 4, 2009 at 12:12 PM
  • News

    SEC AssassinationMadoff Congressional Hearings Liveblogged

    It’s Harry versus the SEC this morning, and there aren’t a lot of pulled punches. Harry: I think the losses in Europe will be bigger. The European losses are often on unreported income and won’t likely be part of the history of the scam. Harry: It took just a couple weeks for me to lose […]

    / Feb 4, 2009 at 11:15 AM
  • News

    Endless Love: Continued Liveblogging Of The Big Three

    It was pretty dull until just now: Rep. Paul Kanjorski: Hey, Nardelli, why the hell isn’t Cerberus sending you any of the $24 billion they have if you have any chance of surviving? Corker had you people figured out yesterday. You can’t survive with your present balance sheets. So what’s the story? Who dresses Nardelli? […]

    / Dec 5, 2008 at 12:10 PM
  • News

    I See What You Did There

    Remember, not too long ago, how much noise Congresscritters were making about “rewarding irresponsible investment bankers”? Well, CNBC has come full circle today. After The Beard was prodded after bailing out state and local governments, since we are in the bailout mood, you just knew that CNBC was going to ask why we are rewarding […]

    / Oct 20, 2008 at 12:13 PM
  • News

    Shortages You Never Expected

    You are certain that the credit crisis is cutting into normal life when you tune to CNBC and see Rosa DeLauro (D-CT) ranting from the podium of the House Committee on the Budget. You know that things are way off kilter because there simply must be a very severe shortage of lithium and chlorpromazine in […]

    / Oct 20, 2008 at 11:11 AM
  • News

    Professor Beard Is Back

    Lecturing Congress like a Monday morning professor, again. Ugh. I think I am detecting a pattern here. A droning, dense lecture that bores the markets into a placid, dumb calm. I used to think him annoying lacking in initiative. I mean, he’s telling them what TARP is again, and what it will do. But, considering […]

    / Oct 20, 2008 at 10:11 AM
  • News

    What Happened Around 11:30?

    Oh yeah. Chart after The Jump.

    / Sep 23, 2008 at 1:55 PM

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