Pauly B

No Liquidity Crisis? Then Why Are the ECB and the Fed Increasing the Money Supply?

There seems to be a lack of transpareny throughout the banking system. When banks dont trust the anothers books and guys working on bond desks don't want to answer the phone from other banks there is a problem. If there is tranparency in banking why did the SEC rush onto Wall Street the other day to look at the books at the major investment banks. That is a bigger story than the bailout by the FED. The SEC and their Euorpean counterparts should have been rushing in months ago for oversite to determine how bad the problem was/is and what impact subprime had done. In the end the average guy will pay the bill for a few greedy bankers and hedge fund managers and Wall Street will try to convince Congress that their computer investment modeling really worked, at least in therory.