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overtheedge
Member since May 2012
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Perception vs. Reality at the Fed

- Keith Weiner - Monetary Metals

Perhaps Miss Carmen Segarra forgot who owns the Fed.
Ownership usually infers control.

Perception is all about "right now".
Reality imposes itself at close of business.

If you really want to sell used cars, hire a cookie-toting grandma.
Granny will be making enough in commissions to hire someone else to make the cookies.
Miss Carmen Segarra forgot she was hired to tote cookies.
Perception goes a long ways towards building confidence.
Con-games fall apart once the confidence effect is eliminated.

Now think about the confidence-building Miss Carmen Segarra has fostered amongst her hoped-for future employers. She took the money and then proved that she doesn't ride for the brand.

Good article. But, ...
Try to understand that they are bankers when they grant you the loan and banksters when they demand you repay the loan you shouldn't have asked for in the beginning. Without banksters we would be up to our butts in fraudsters. So send your bankster a "Thank You" note and a year's subscription to the Baseball Bat of the Month Club. Otherwise and perhaps in spite of, you will get Cyprus-ed. Debts must clear.

Commented 3694 days ago

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Beginning of the headline :Last week, a story broke about Fed whistleblower Carmen Segarra. I wrote an article on Forbes about it, Disgruntled Fed Lawyer Blows Whistle on Regulatory Capture. Segarra is a former Fed regulator assigned to supervise Goldman Sachs. She secretly recorded 46 hours of audio from her meetings, during her short stint on site at Goldman as a Fed employee. This story does not come in a vacuum. There is an ongoing narrative, which is simple, even facile. We had a crisis in 2008, and therefore banks c... Read More

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