David Stockman on Fed arrogance and monetary mission creep!

­Now that the Fed has announced QE3 and Japan announced QE8, Brazil is threatening defensive measures and bringing talk of Currency Wars back.  We talk to David Stockman, former director of the Office for Management and Budget during the Reagan administration, about the malignant effects of Fed policy and lack of market-set interest rates! Plus, the US Senate panel probing JP Morgan's multibillion dollar “Whale Trade” loss plans to unveil its findings to press regulators to tighten the Volcker Rule.

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