Friedrich von Blowhard writes:

Dear Blowhards,

Our ongoing economic troubles have yielded me a good deal of pain, anguish and indignation, but not as I recall too much humor. Nonetheless, I recently came across two very funny items.

The first is from Mike Shedlock, and concerns Federal Reserve Vice Chairman Kohn’s attempts to ward off the Congressional (and therefore citizen and taxpayer) scrutiny of his very secretive agency…or private sector organization…or whatever it is that just happens to control the money supply of the United States of America. This attempt is of course being pushed by former presidential candidate and Representative Ron Paul and a host of fellow legislative sponsors. You should know that Mish, as Mr. Shedlock is known, calls openly for the abolition of the Fed on the grounds that neither its governors nor anyone else in the world knows the correct level of short term interest rates. In any event, he makes his sympathies pretty clear by some slight impositions on the text of a Washington Post article.

The second is a column from Jonathan Weil of Bloomberg (“Goldman Sachs Loses Grip on its Doomsday Machine”) on the recent dust-up over the Russian former employee of Goldman Sachs who stole some of their proprietary trading software. The incredibly speedy response by our law enforcement officials to this existential threat to Goldman’s profits (contrast this, if you like, to the response you got if you've ever reported your TV stolen to the cops) is also discussed in a pretty funny video here.

Cheers and laughter,

Friedrich

Do you get the feeling that Wall Street is beginning to resemble a tawdry carnival? "Step right up and win a beautiful gift!"

Posted by: Charlton Griffin on July 11, 2009 12:18 PM

A Russian stole an economic Doomsday Machine!? Throw in some sexy ladies and gadgets and you have the workings of a James Bond story.

Posted by: I_Affe on July 12, 2009 12:28 AM






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