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May112010

FED IS DEAD: Stephen Colbert On Dr. Blankcheck Von Moneypants 

The Colbert Report Mon - Thurs 11:30pm / 10:30c
Fed's Dead
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Video:  The Colbert Report takes on the Federal Reserve -- December 8, 2009

Reposting this story in celebration of today's victory over Fed secrecy.

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  • "The Federal Reserve or as it is known to banks, Dr. Blankcheck Von Moneypants."
  • "People like Bernie Sanders want to pull down the Federal Reserve's pantaloons to look at its fiscal naughty parts."
  • "As long as the Fed’s minions are allowed to perform their secret rituals, which may or may not involve ritual chicken slaughter, we all profit in the end."
  • “Now some conspiracy theorists out there have criticized the Fed as a secretive cabal that only benefits the well connected, when in fact the Fed is merely an extra-constitutional star chamber that controls our monetary policy with no oversight.”
  • “The Fed needs that autonomy because they have an important job.  They set the prime interest rate for all loans.  Raising rates encourages savings while lowering them encourages spending on big ticket items like houses and cars… unless you saved money by buying a house, in which case you now live in your car.”

  • “The fact is we don’t need to know what they’re doing as long as we think they know what they’re doing.  That makes the economy stronger which means whatever they did was right, which means that they know what they’re doing.”

  • “Senator… Chris Dodd, who recently introduced a bill that would consolidate oversight of the banks, now shared between the Fed and three other regulators, into a single new agency.  That agency?  Goldman Sachs.”

  • The Fed's "merely an extra-constitutional star chamber that controls our monetary policy with no oversight."

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Reader Comments (8)

http://en.wikipedia.org/wiki/File:NormandySupply_edit.jpg

Extremely cool photo from Normandy...
Dec 10, 2009 at 5:26 AM | Registered CommenterDailyBail
http://www.gamespot.com/news/6242635.html

US Army spent $33 million on video games
Dec 10, 2009 at 5:31 AM | Registered CommenterDailyBail
IRS Audits Single Mother Because They Didn't Believe She Could Live On 20K Per Year

http://seattletimes.nwsource.com/html/dannywestneat/2010435946_danny06.html
Dec 10, 2009 at 5:32 AM | Registered CommenterDailyBail
Dec 10, 2009 at 5:33 AM | Registered CommenterDailyBail
Dec 10, 2009 at 5:35 AM | Registered CommenterDailyBail
Humor is fine, but until we learn to laugh at electrocuting fraudsters & scammers on live national TV while we crack-up over that puff of smoke that slowly rises out of their frying craniums amid loud popping & sizzling sounds ... I fear it'll do little good.
Dec 10, 2009 at 7:22 PM | Unregistered CommenterRecoverylessRecovery
graphic, but likely true...heads need to roll...
Dec 11, 2009 at 2:20 AM | Registered CommenterDailyBail
Or "fry, pop, and sizzle".
Dec 11, 2009 at 5:28 PM | Unregistered CommenterDoogie

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