While Bernanke goes to College, does it look like Corzine may finally be
Ben Bernanke spoke at the opening of a Fed conference in Washington with other central bankers, rounding out a week where he gave two lectures in his college class, the first ever by a sitting Fed chairman. Class, indoctrination, attempt to rewrite history, or PR offensive in the face of Fed criticism? In our view, the fundamental problem Bernanke and his disciples have is that they believe the interest rate should be immune from the laws of supply and demand that set every other price in the economy. We discuss with legendary investor Jim Rogers.
Then we visit the MF Global and Jon Corzine mess. Could there finally be a break for MF Global customers, and what will come next? Will JP Morgan be implicated in this fraud, and will Jamie Dimon be held personally responsible for a fund transfer that happened under his watch, and at his company? Jim Rogers thinks someone should be in jail, so we ask him who.
And in our Loose Change segment, we cover the latest World Bank presidential nomination, a Korean-born American professor from Dartmouth by the name of Jim Wong Kim. Is this good sign for the future of internationalism and the World Bank? The peanut gallery will pass its verdict.