NASCAR Helicopter

Thursday, January 31, 2008
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The Wall Street Journal likes Bernanke’s helicopter, ‘cept they think he ought’a slow down in the turns just a wee bit. Prior to the 50-basis-point rate cut, Gail Dudack expressed her feelings about the market’s collective “feelings”: “The Fed needs to do a 50-basis-point cut or the markets will be very disappointed,” says Gail Dudack, chief investment strategist with Dudack Research Group. “I think it would be a huge risk to disappoint the market.” We can be glad the market wasn’t disappointed. Happy market! Hedge Fund folks who benefit from the government’s interventionist policy believe that the Fed Reserve is “tame, timid and tardy.”

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