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The Fed's failings II

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Contact Colin McNickle (412-320-7836 or cmcnickle@tribweb.com).

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Saturday, Nov. 9, 2013, 9:00 p.m.
 

In reporting about a Ponzi schemer, a journalist who wrote only about the net benefits to early investors would be properly accused of journalistic malpractice.

So, I was surprised by the front-page print placement and the 20 paragraphs given to The Associated Press news story “Fed will continue bond-buying policy” (Oct. 31 and TribLIVE.com) without it once noting where the money comes from to buy these bonds.

Nor did the story bother to mention the danger of asset bubbles, growing inequality of wealth or meager economic impact attributed to the Fed's quadrupling of the monetary base since 2008.

Benjamin Gross

Rosslyn Farms

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