Quote du Jour: Madoff for the Fed?
Source: http://www.investmentpostcards.com/2009/07/02/quote-du-jour-madoff-for-the-fed/Posted on Thursday, July 2nd, 2009 | In Market Commentary
Contributed by: Prieur du Plessis (http://www.investmentpostcards.com) -
Bill Bonner (The Daily Reckoning) said: “While Bernie is behind bars, the SEC and FED officials are still at large. Both are clearly guilty of dereliction and negligence.
“But, what is the point of keeping Madoff in prison? He represents no threat. Rather than pay $30,000 per year to keep him locked up, we suggest that he be forced to do community service work. He should be pressed into service as the next head of the Federal Reserve after Ben Bernanke’s term expires in December.
“With Madoff in the big office, there would be no longer any illusions about what sort of bank the Fed is running.”
Source: The Daily Reckoning, June 30, 2009.
Last 5 posts by Prieur du Plessis
- Prieur’s readings (November 21, 2009) - November 21st, 2009
- The lie of the investment land, according to Dylan Grice - November 21st, 2009
- Gross: Anything but .01% - November 21st, 2009
- The week ahead - November 21st, 2009
- Don Coxe webcast – updated (November 20, 2009) - November 21st, 2009
Tags for this Post:
Bank, ben bernanke, Bill Bonner, Federal Reserve System, head, investment postcards, Market Commentary, Securities And Exchange Commission, The Macro Trader, USD
Bank, ben bernanke, Bill Bonner, Federal Reserve System, head, investment postcards, Market Commentary, Securities And Exchange Commission, The Macro Trader, USD
 About Prieur du Plessis (http://www.investmentpostcards.com)
Prieur du Plessis has 25 years’ experience in professional investment research and portfolio management. More than 1,000 of his articles on investment-related topics have been published in various regular newspaper, journal and Internet columns. He has also published a book, Financial Basics: Investment. Prieur is chief executive and principal shareholder of South African-based Plexus Asset Management, which he founded in 1995. The group conducts investment management, investment consulting, private equity and real estate activities in South Africa and other African countries. Plexus is the South African partner of John Mauldin, author of the Thoughts from the Frontline e-letter, and also has an exclusive licensing agreement with California-based Research Affiliates for managing and distributing its enhanced Fundamental IndexTM methodology in the Pan-African area. Prieur is 52 years old and lives with his wife, television producer and presenter Isabel Verwey, and two children in Cape Town, South Africa. His recreational activities include long-distance running, motor cycling, traveling and reading. |
No recommendations, either expressed or implied, are being made to buy, sell, hold or short any of the mentioned stocks. No legal, tax or accounting advice is expressed or implied. Always contact your attorney, CPA, or tax advisor before acting on any legal or tax issues. StraightStocks.com is not responsible for the content, products, or services of any of the advertisers on this site. StraightStocks.com receives compensation from advertisers on this blog. Services and products referred to herein are trademarks, registered trademarks, servicemarks, and/or registered servicemarks of their respective trademark or servicemark owners.