Monday, April 16, 2012

How Did Ben Bernanke Muscle Fed Prez Fisher?

This is right out of a bad Mafia movie. CNBC's John Carney emails me:

I managed to discover some news in the absurdly redacted Fed minutes released today.
He then points to a post he has written that says in part:

Federal Reserve Bank of Dallas President Richard Fisher initially provided the only "No" vote on a motion before the Federal Open Market Committee at the height of the financial crisis... 
Immediately following the mystery vote, Federal Reserve Chairman Ben Bernanke requested a break for lunch. 
Upon returning from lunch, Bernanke announced that Fisher had changed his mind.
“On consideration, in order to maintain a united front with the Committee, President Fisher changed his vote to vote ‘yes’ on the resolution,” Bernanke said, according to the transcript.
Wow, how did the mild mannered appearing Bernanke get Fisher to change his vote, during a lunch break?

The full Carney post is here.


  1. Just out of curiosity are you a Free Banker or 100% Reserve guy?

  2. This looks like something Congress might wan to look at, post haste, due to the potential criminality of the action and the outsize impact it could have.

    Wonder who could do that?

  3. Would I be completely off the mark if I said that it involved kneepads and lip balm?

  4. I guess he lives his wife and children too much to see what they do to family of dissidents.

  5. JFK; shot in the head. Lindbergh; baby stolen and killed. Fisher; speaking fees keep rolling in.

    Not too tough a choice I suppose.

  6. Ben gave Fisher a quick economics lesson in an area that wasn't covered in any of Fisher's college classes. Fisher received the instruction and changed his vote accordingly.

  7. Anon 06:37 AM: here's an alternate, and compelling, read on the Lindbergh 'kidnapping':