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Oooohhh. Novak's got a double super secret inside Fed source who passes him such juicy tidbits as . . . the fact that the Chairman of the Federal Reserve has private meetings with the Comptroller of the Currency! I'm like totally shocked--nothing in Greenspan's published statements has ever suggested anything of the kind!
I take it we are to assume that Greenspan is looking for someone else to go in after the punchbowl.
My guess is Novak's 'secret inside source' is a balding grumpy old man with big glasses... Just like Novak's other 'secret sources'... they are all just a little too conveniently 'secret'.
Novak is a tool in every sense of the word. Greenspan is trying to cover his rather exposed and saggy old ass... and Novak is more than willing to help... show CNN who has the smoke.
IOW, the medium is the message. In this case, that could mean not just that the balding grumpy old man doesn't just want to communicate something, but to communicate it to a certain audience.
(ahem) ... not just that the balding grumpy old man wants to communicate something, but that he wants to communicate it to a certain audience.
I found this report amusing: First its Novak, second, contacting the Comptroller, etc. is part of Greenspan's normal activities. Third, its no real secret that many people think housing is keeping the World economy going. Otherwise its a great scoop.
But I thought it was interesting anyway. If anyone still reads Novak, they probably don't read the blogs ... so this might come as a surprise to them. And as Dr. Shiller said, the housing boom will end when the sentiment changes.
Best to all.
it baffles me why people look down on novak's sourcing. i'd say he was pretty friggin' dead on outing valerie plame. generally speaking, it's not a good idea to bet against the fed.