Is Bernanke next on the hitlist?

"The Fed's new program will begin with two auctions next week and another two in January. The first auction for up to $20 billion will occur Dec. 17, followed by a Dec. 20 auction for another $20 billion."

Any news on what happened in y'day's auction? I didn't see any news.

Reuters

Bloomberg

He's breathing!!!!

Dec. 19 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke took steps to restore the central bank's reputation after lawmakers blamed it for failing to contain the subprime mortgage crisis, announcing rules to rein in abusive lending.


Fed governors unanimously proposed banning subprime mortgages that lack income documentation and eliminating most prepayment penalties. The plans, announced yesterday after a six-month review, also make lenders responsible for determining whether borrowers can afford their mortgages even after low starter rates expire.


``Against a background of doing nothing, this is a step in the right direction,'' said Democratic Representative Brad Miller of North Carolina, who had urged stronger regulation. The Fed ``has had rule-making authority since 1994, and this is the first time they've proposed rules, so I'm not inclined to come down on Mr. Bernanke like a ton of bricks,'' he said.

LOL!!

the fed is making all the right moves lately, seem to be pleasing almost everyone which is a near impossible feat in times like these. im telling you cesar, this guy is going down in history along side greenspan! :

Which of coarse you will always lose......