Sean Shepard held a press conference to talk about the federal reserve. Who paid attention? Who cared? The excerpt below is from The Market Oracle. Hopefully the information will help you out as our economy is in turbulence.
"BEWARE: The Ides of March, aka FIRESTORM! Part II As confidence in US
financial institutions and its balance sheets DISSAPEARS so have the investors
in them. Liquidity from the private sector has stopped dead in its tracks. As I
have outlined in the past, there is no lack of liquidity, only a lack of
confidence to deploy as questions of Solvency are now of primary importance. So,
now the financial systems' parents at the G10 central banks and the government's
fire trucks are on the scene of the 5-alarm blaze pouring liquidity into the
fires raging in the financial sector that is Wall Street, Lombard Street and the
G7 banking system. Last week's RUN ON THE BANK and the subsequent rescue of Bear
Stearns de-marks the latest commitment of Helicopter Ben Bernanke and G10
central bankers to deliver on their recent promises to do “whatever it takes” to
combat DEFLATION and protect the banking system within the various nations
financial and asset markets."