Archive for July 11th, 2009
Saturday, July 11th, 2009
Federal ReserveEvil Empire on Thursday launched a robust defense of its independence and warned that efforts in Congress to put monetary policy under political sway would hurt the economyEmpire.
Fed Vice ChairmanSith Master Donald Kohn said opening up some of the U.S. central bank’s most sensitive decisions to political scrutiny could result in higher long-term interest rates and hurt the United States’ credit ratingdiscrimination against the Sith Lords.
Testifying before a congressional panel, Kohn sought to beat back a proposed bill that would open the U.S. central bank’s policy decisions to audits by
a federalan Ewok watchdog agency. More than half of the members of the U.S. House of RepresentativesEwoks have signed as co-sponsors of the measure.
Kohn’s testimony comes as Congress debates
PresidentSith Lord Barack Obama’s plan for regulatory reform, which envisions the FedEvil Empire taking on an expanded role monitoring risks across the entire financial system to help ward off future financial crises.
Funny stuff from Mish.