Grant Calls Fed's Balance Sheet an `Economist Nightmare'
00:00 Fed intervention in credit market crisis
07:16 Credit crisis a "scandal"; Freddie and Fannie
09:23 Impact of Fed action on inflation, dollar
14:29 Is there a silver lining in credit crisis?
Running time 15:42
Click for Video
James Grant, editor of Grant's Interest Rate Observer, talks with Bloomberg's Pimm Fox in New York about the Federal Reserve's intervention in the credit market crisis and its impact on the value of the U.S. dollar.
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Thanks, Laura!
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Thursday, March 27, 2008 | 03:00 AM | Permalink
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Comments
And hat tip to BDG123, who had this up yesterday?
Posted by: MarkM | Mar 27, 2008 5:14:04 AM
Great to see someone call a spade a spade. It's a scandal, indeed. When will the guilty, i.e. Helicopter Ben and Greenspan, be taken to the woodshed.
Posted by: Spectator | Mar 27, 2008 5:14:22 AM
"Who would of thunk it!"
Posted by: JustinTheSkeptic | Mar 27, 2008 5:51:50 AM
It's all relative...as the Prophet Of Margin Calls, this is not a nightmare...it's my life's dream. Did you guys see that blog I linked to on JP? I have to have a talk with the superstar CEO over there.
Posted by: Dee Leverage | Mar 27, 2008 7:37:49 AM
yep, the bloomberg vid crashed Firefox. I'll wait for the transcript...
Posted by: bluestatedon | Mar 27, 2008 7:47:35 AM
Here's the clip, uploaded to Google video:
http://video.google.com/videoplay?docid=1815415531806201125&hl=en
(not sure if embedding works in comments, so just follow the link)
Posted by: Alexander G. Rubio | Mar 27, 2008 9:12:49 AM
Excellent, lucid and witty observations (didn't crash me, but I'm Windows XP).
It is all a scandal, as he says. The fed will soon be nothing more than a highly-leveraged investment bank fortuitously owned by the folks that print money and have a nuclear stockpile to back it up.
I suppose when re-leveraging fails, we can always just take what we need at the point of an ICBM.
Posted by: DonKei | Mar 27, 2008 10:02:57 AM
T-shirt/logo for the Fed:
Got bilk?
Posted by: Ritchie | Mar 27, 2008 12:49:27 PM
