Stockman asks if it is possible to "restore (ing) the central bank's original mission: to provide liquidity in times of crisis but never to buy government debt or try to micromanage the economy. Getting the Fed out of the financial markets is the only way to put free markets and genuine wealth creation back into capitalism."
As noted in the American Thinker article of March 29th, the Fed has become something it once was not. Not only have they expanded their balance sheet, they have assumed new powers under emergency conditions, then made them permanent. They have focused on some mandates while ignoring others. This is quite a brew Ben has in his caldron. But now Bernanke may be more focused on his own exit strategy rather than from the Fed's apparently inextricable situation. There is no feasible way to drain this punch bowl.
"Blandishments will not fascinate us, nor will threats of a "halter" intimidate. For, under God, we are determined that wheresoever, whensoever, or howsoever we shall be called to make our exit, we will die free men." -- Josiah Quincy
TRULY SAD! For Sequester, Kerry, Worth $198.65 Million, to Give $9,175 to Charity http://feedly.com/k/YVI9KG
A Target On Drudge - Obama sure doesn't like any media "going off the reservation"! http://feedly.com/k/XrDtOo
Planned Parenthood Pays 14-Year-Olds to Push Black Girls Into Sex, #Abortion http://feedly.com/k/10st6HX
Gun protection for me – but not for thee: WI Lawmakers Vote to Ban Concealed Weapons… Except For Theirs http://feedly.com/k/10aXIxI
Oh-oh! Even #Liberals start attaching the dreaded i-word itself to Obama http://bit.ly/Y091pG #incompetence
The Amnesty Push Will Soon Force #Rubio to choose the #TeaParty or the cocktail party. http://bit.ly/Y04KlX