Who ya gonna call?
Helicopter Ben for a bailout, of course
Bloomberg provides a detailed, but not entirely complete, list of assorted power-brokers, muckety-mucks and entirely neutral and disinterested proponents of free financial markets who put their figurative Size 12 boots on the neck of Federal Reserve Board chairman Ben Bernanke before he flung open the discount window on Aug. 17:
Starting with a phone call from former Treasury Secretary Robert Rubin the day after the August rate meeting, Bernanke’s appointments included Lewis Ranieri, founder of Hyperion Capital Management Inc, and Raymond Dalio, president of Bridgewater Associates.
The information on Bernanke’s calls and contacts was obtained under the Freedom of Information Act by Kenneth H. Thomas, a lecturer at the University of Pennsylvania’s Wharton School in Philadelphia.
Yet Rubin Dalio & Ranieri wasn’t the only firm with bladder control issues: Pimpco’s Bill Gross, one of the world’s largest owners of mortgage- and other asset-backed securities, was on the horn, too.
As Cramer was railing, I and other PIMCO professionals were attempting to describe to high-ranking Treasury and Fed officials the near-frozen commercial-paper markets and the draining confidence of bond and stock investors worldwide. It was Thursday, August 16.
Aaaah, friends. You’ve either got ’em. Or you don’t.
Bernanke Spoke With Rubin as Credit Crisis Worsened
by Craig Torres
Bloomberg Oct. 3 2007
What Do They Know?
by Bill Gross
Investment Outlook Oct. 2007
And your point is?
Posted by: Bill aka NO DooDahs! | October 05, 2007 at 14:40