As most of our most dedicated BBFile subscribers noticed today, there have been several headlines made concerning Feinberg's limitations on banker pay. Even more headlines were made today when Bernanke announced that the Fed would look into banker compensation. Readers, do not take these statements at face-value. The Federal Reserve's independence from Washington is of utmost importance. Bernanke knows this and wisely chooses his battles, knowing that Congress needs to stay away from monetary decisions. Unfortunetly there is a rabble-rouser in the midst. Daniel Tarullo has been fueling the fire in support of Feinberg's plan. Actually, out of the six articles The BBFiles has found concerning this topic, the ONLY Board of Governor to talk about the pay restrictions has been Tarullo! What is disconcerting about this is that Tarullo is also the only Board of Governor appointed by President Obama! Clearly Tarullo is jeopardizing the Fed's independance and Obama is undoubetedly influencing this behavior.
If Tarullo doesn't quit talking, The BBFiles will have no choice but to add him to the dreaded Bernanke Arch-Nemesis List!
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I heard someone today on the radio talk about the "BB Saga", which I took to mean something to do with Ben Benanke. In reality they were talking about "Baloon Boy"... I think you should sue soon so that the good names of the BB Files is not tarnished forever.
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