Friday, December 12, 2008

Ben S. Blutarsky

Hanky: War's over, man. You dropped the big one.
Benny: Over? Did you say "over"? Nothing is over until we decide it is! Was it over when the Germans bombed Pearl Harbor? Hell no!
Bush: Germans?
Cheney: Forget it, he's rolling.
Benny: And it ain't over now. 'Cause when the goin' gets tough...
[thinks hard]
Benny: the tough get goin'! Who's with me? Let's go!
[runs out, alone; then returns]
Benny: What the f%&@ happened to the U.S.A I used to know? Where's the spirit? Where's the guts, huh? This could be the greatest night of our lives, but you're gonna let it be the worst. "Ooh, we're afraid to go with you Benny, we might get in trouble." Well just kiss my a$% from now on! Not me! I'm not gonna take this. Waggoner, he's a dead man! Mullaly, dead! Nardelli...
Cheney: Dead! Benny's right. Psychotic, but absolutely right. We gotta take these bastards. Now we could do it with conventional weapons that could take years and cost millions of lives. No, I think we have to go all out. I think that this situation absolutely requires a really futile and stupid gesture be done on somebody's part.
Benny: We're just the guys to do it.
Hanky: Let's do it.
Benny: *Let’s do it*!

From Citizen King

Fed funds traded at zero late last night. We have screamed for months that the official or 'target' Fed Funds rate was irrelevant because the effective funds rate was much lower, and near zero. Now funds are trading at zero.

Yet there will be pundits and experts that will assert that the Fed might cut its target funds rate this week to 50bps or even 25bps - even though the cut in the target rate is meaningless.

Now that the Fed is paying interest to banks, why did the Fed allow funds to trade at zero? Yep, they are terrified by something.

No comments: