Fed Feigns Deafness

Fun to see the Fed feigning deafness when called up by worried bankers:

Wall Street bankers, from senior executives to traders, are complaining that the Federal Reserve is refusing to engage in scenario planning for a US downgrade or default.

With days until the Treasury’s August 2 deadline to raise the debt ceiling, bankers say they are not getting a response to efforts to discuss the market impact of a failure to reach a deal in Washington or if credit ratings agencies cut the US triple A rating.

via Fed under fire over default talks – FT.com.

Related posts:

  1. Janjuah on the Debt Ceiling
  2. Simon Johnson: The Triumph of the Banking Oligarchs
  3. The Inevitability of U.S. Debt Repudiation
  4. Human Response to Large-Scale Emergencies
  5. It’s Not the Bond Rating Agencies’ Fault