True?

Finally, We Learn Who Strongarmed Bernanke

Well, well, well. We finally learn some of the names of the gang that went to Uncle Bernie’s house to twist the Fed Chief’s arms so he would give them their Christmas Gifts early! I think it is time to make fun of some more speculators and investment funds. I hope their lawyers don’t attack but then, what else can they do? And the media is filled with stories trying to explain FOREX reserves and how magical they can be since the US and Europe can simply make them up unlike China, Japan and Russia! Right, I say. Like we make up the interest rate without considering the facts of real inflation.

Starting with a phone call from former Treasury Secretary Robert Rubin the day after the August rate meeting, Bernanke’s appointments included Lewis Ranieri, founder of Hyperion Capital Management Inc., and Raymond Dalio, president of Bridgewater Associates.

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