Alan Grayson: “Which Foreigners Got the Fed’s $500,000,000,000?” Bernanke: “I Don’t Know.”

This is Congressman Alan Grayson questioning Federal Reserve Chairman Ben Bernanke on $550B of loans to foreigners (or ‘central liquidity swaps’ in Federal Reserve-ese’). Which financial institutions received this money? Bernanke’s answer: I don’t know. As the Fed was lending this money, the dollar increased by 30% in value. Grayson asks, was this a coincidence? Bernanke’s answer: yes. … Alan Grayson Ben Bernanke Federal Reserve Barney Frank dollar

Originally posted 2009-12-26 11:20:20.

tiger woods latest girlfriends photos leaks

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Originally posted 2009-12-16 23:55:27.

Ugly Betty Star Preparing for Musical Episode

The cast of Ugly Betty are now testing their vocal chords as a musical episode of the highly watched series is in the making. Surely, Emmy-nominated actress and singer Vanessa Williams will have no problem taking on this exciting episode, but as for other cast members who do not normally use their vocal chords for musical purposes, it may well be quite a challenge. This is the case for Ashley Jensen, who plays designer Christina McKinney on the show.

The 38-year-old actress already warned the viewers of the show that she will definitely not be as good as Williams, who has garnered musical success throughout the 1980s. Despite that, Jensen hopes that the fans of Ugly Betty would appreciate her efforts.

“Most people have got a wee voice inside them. It might not be Vanessa Williams’ standard,” Jensen said. “But I think what will be part of the charm is that it will be the characters singing.”

Apart from the various characters breaking into a song every now and then, fans will also have the opportunity to hear music from multi-award winning composer Marc Shaiman, the man responsible for the Broadway production of Hairspray.

Despite all the buzz, fans will have to hold on to their excitement as it will take some time before the muscial episode of Ugly Betty actually gets taped and aired. In fact, it was just on the idea stage when the writers’ strike took place in early November. Currently, there are four new episodes of Ugly Betty left, and hopefully the writers’ strike would be resolved as to further the production of Ugly Betty episodes.

The strike also caused Gabrielle Union’s appearance on Ugly Betty to diminish as the Bring It On actress is to play Wilhemina Slater’s (Williams) younger sister. Her former status as a recurring character was shortened to a one-episode appearance.

For more resources about Ugly Betty or for the full story of Ugly Betty Star Preparing for Musical Episode please review http://www.buddytv.com

Originally posted 2009-12-16 09:21:41.

Interest Rate Cut

How LOW can the Fed GO? Well, they’re there now. One cannot go below zero, but printing money and bailing out everyone who is in trouble but the little man is about all that’s left. I can’t see the Fed paying me to borrow. Many would! Despite a staggering 4.25 percentage points of cuts since September 2007, the economy has not improved – in fact, it has gotten worse, drifting in to a recession last December. Can one think DEPRESSION? 

The Federal Reserve has cut its target for a key interest rate to the lowest level ever IN HISTORY and pledged to use “all available tools” to combat a severe financial crisis and prolonged recession. Tools is a buzz word for printing money and giving it away. The central bank says it reduced the federal funds rate, the interest that banks charge each other, to a range of zero to 0.25%.

That is down from the 1% target rate in effect since the last meeting in October.

So we now see MUTUAL FUNDS going out of business because they can’t pay you any return because they can’t get a return on investment from the Fed. We’re already seeing HEDGE FUNDS bite the dust and close up shops- Bernard Madoff or no Madoff! Federal Reserve Chairman Ben Bernanke and his colleagues also pledged to use “all available tools” as they struggle to contain a financial crisis that is the worst since the 1930s and a recession that is already the longest in a quarter-century.

Slammed by the financial crisis, worried banks have hoarded their cash and been extremely reluctant to lend money to customers. Fearful consumers, watching jobs vanish and their investments tank, have sharply cut back their spending, including on big-ticket purchases like homes and cars that typically involve financing. It’s called the domino effect. It’s called Trouble with a capital “T”.

Originally posted 2009-12-31 01:17:55.