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Bloomberg reports on the upcoming central banker pow-wow:

Federal Reserve Chairman Ben S. Bernanke and fellow central bankers gathering in Jackson Hole, Wyoming, are showing scant signs of reprising the coordinated stance they took fighting the worst financial crisis since the Great Depression as they deal with its aftermath.

….Bernanke, 55, and other policy makers, who meet on Aug. 20-22, are already staking out differing positions as they gain traction in their battle against a crisis that has cost financial companies worldwide about $1.6 trillion in writedowns and losses…..“What you would hope to happen is much better coordination internationally,” [Mohamed] El-Erian said. “What’s likely to happen, however, is that national interests are going to dominate.”

Well, so much for Ben Bernanke being greeted as a conquering hero.  Either that or else conquering hero-hood just isn’t what it used to be.

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This is no time to come up short. It's time to fight like hell, as our namesake would tell us to do, for a democracy where minority rule cannot impose an extreme agenda, where facts matter, and where accountability has a chance at the polls and in the press. If you value our reporting and you can right now, please help us dig out of the $100,000 hole we're starting our new budgeting cycle in with an always-needed and always-appreciated donation today.

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