Thursday, January 10, 2008


Understatement of the Day

On the whole, despite improvements in some areas, the financial situation remains fragile, and many funding markets remain impaired. —Federal Reserve Chairman Ben Bernanke speaking today at the Women in Housing and Finance and Exchequer Club Joint Luncheon

Impaired, my Aunt Fanny! They're on oxygen.

Here are a few more gems I've extracted from the crude ore of Bernanke's financialese—



1The Federal Open Market Committee (FOMC), "the monetary policymaking arm of the Federal Reserve System." [back]

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