Tuesday, August 25, 2009

Daily Pfennig 8/25/2009

http://www.dailypfennig.com/

"...see where a Manhattan Chief U.S. District Judge ruled against the Fed Reserve? Way to go Loretta Preska, the judge, who has rejected the argument that the Federal Reserve was making about disclosing loan records... The Fed said that loan records aren't covered by the law because their disclosure would harm borrowers' competitive positions... The judge said, that the Federal Reserve MUST identify the companies in its emergency lending programs..."

"...
here's where I make sure you understand the difference between China adding economic stimulus, and the U.S. adding economic stimulus... China has the treasure chest of reserves to do so, and the U.S. doesn't! They are working from a position of monetary strength... The U.S. on the other hand, has done a wonderful job of jacking up the national debt! And we still have 1 in 5 people unemployed! We still have banks failing left and right, 77 of them in 2009, and we still have an economy in depression..."

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