A Federal Reserve Bank leader doesn't think much of Congress's efforts to avert the looming fiscal cliff, Bloomberg reports. Lawmakers risking a recession because they can't pass a budget are "parasitic wastrels," Federal Reserve Bank of Dallas President Richard Fisher told an audience at Stanford University.
Politicians, he said, should "begin acting like the responsible fiduciaries of the nation's fiscal accounts they are supposed to be." Fisher added that "the jig is up" for a dysfunctional fiscal system.
Lawmakers may be listening to warnings of influential financial leaders like Fisher. President Barack Obama opened negotiations with congressional leaders Friday on ways to avert the fiscal cliff of huge spending cuts and tax hikes set to take effect Jan. 1, 2013. Participants from both parties afterward called the meeting constructive and expressed optimism that a deal can be reached, according to The Washington Post.
U.S. stocks, which had been in negative territory Friday morning, rose sharply after the lawmakers spoke.
A historical look at the US markets and financial industry would show that since the Fed was created, they have run much more smoothly, with fewer crashes of both, and dips that were smaller and of shorter duration.
investors in our nation's economy can trust that there is stability and security there.''It's a good thing''...
THE Biggest most unconstitutional un American,immoral, illegal entity,the fraudulent !!!<<has the unmitigated gall to call someone else a parasite!!the only thing you could call congress on this matter is cowardly for not dissolving this parasitic tumor
guess i should say what i really think before the duct tape lets go :} all i can think of is when Khrushchev said we shall spit in your eye and you will call it dew, industrial strength Duct tape::STAT!
Here's the problem in a nutshell. After 4 years of obstructionist politics, of neither side budging and inch (other than extending the tax cuts for the rich), after a campaign of calling each other every foul name known to man? Look at the picture. Both are "amused". Isn't that hunky dory. Two different breeds of pigs at the taxpayer trough but at the end of the day they're still both pigs.
I have NO USE for the clown show that has become congress... still..... when was it that Dick Fisher was ELECTED to office? Like the rest of Axlerod's second level stooges, he doesn't answer to The People.... "Parasitic Wastrels" I won;der how much his speechwriter is paid for the twenty dollar words. A terrific insult, I'll have to use it someday.
@FollowTheMoney Sadly it will never happen... These are the same people who vote themselves pay increases, better benefits than their constitutes and spend their days trying to figure out how fleece the American people and set themselves up for life... These people/leeches are abominations and IMO via their actions are guilty of treason against the American people!
@Middleman What we have are professional politicians who's careers depend on capturing all the political capital they can in a constant struggle for political survival. All other considerations are secondary to that end. Term limits would remove the legislation for profit motive and allow the politician to serve the interest of their constituency.
Term limit can happen, but we the people must elect Representatives to make it happen. The Libertarian party has those Representatives.