22 Jul 2009

Two Ironic CNBC Headlines

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In case you’re wondering, the only reason I torture myself by going to CNBC.com 5x a day is that I check the price of gold, and I continue to wait for the dollar to crash. But then when I’m there, I can’t help but look at the headlines.

For example, right now I read that Bernanke says there should be no audit of the Fed, lest the venerable institution’s independence is compromised by political factors.

Another headline reads: “Only Fed Fit to Do Systemic Exams.”

If I were running the PR on a big investment bank, I’d take out full-page ads in the Wall Street Journal saying, “Mr. Bernanke, don’t want your mission to be compromised by interference from Congress? Our shareholders know how you feel.”

It wouldn’t do any good, of course, since government officials are the most transparent hypocrites around (with the possible exception of televangelists). But it would be funny.

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