A Fly On The Wall…From Art Cashin On The Floor Of The New York Stock Exchange
Posted By thestatedtruth.com on April 5, 2012
Fortune broke an interesting story on a private lunch that Bernanke had with some key bankers.
FORTUNE — After completing a series of public lectures in Washington, D.C. last week, Federal Reserve Chairman Ben Bernanke quietly slipped into New York City for a private luncheon on Friday with Wall Street executives. Fortune has learned that attendees included Jamie Dimon (J.P. Morgan), Bob Diamond (Barclays), Brady Dougan (Credit Suisse), Larry Fink (Blackrock), Gerald Hassell (Bank of New York Mellon), Glenn Hutchins (Silver Lake), Colm Kelleher (Morgan Stanley), Brian Moynihan (Bank of America), Steve Schwarzman (Blackstone Group) and David Vinar (Goldman Sachs). Sources say Bernanke spoke at length about monetary policy, in an apparent effort to persuade attendees that they needed to take a more active role in helping to deal with the European debt crisis. He spent virtually no time discussing regulation, although that mantle got taken up by both Dimon (domestic regulation) and Schwarzman (global regulation). I find it absolutely fascinating that he concentrated on the problems in Europe and not on U.S. lending or jobs. Is there more connectivity and concern with Europe than we think? We’ll watch more carefully.
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The Stated Truth » A Fly On The Wall…From Art Cashin On The Floor Of The New York Stock Exchange