Refract

"Lost in this politically charged climate is the reality that the Fed, more than any other government agency, arguably stopped last fall's financial panic from becoming a global depression," observes Robert J. Samuelson today in support of Ben Bernanke's own take on reforming the Federal Reserve.

Reform

Now that the politicians are all over our financial dilemma with some half-cocked if not downright reckless solutions, the one man who knows what he's talking about is Ben Bernanke. Above all the others, he may be the one man we should be listening to now.

Money

"There’s no name plate on the building, no sign on the front desk and the armed policeman stationed outside isn’t saying who works there," according to John Arlidge in The Sunday Times. "There’s a good reason for the secrecy," he continues. "Number 85 Broad Street, New York, N.Y. 10004, is where the money is. All of it." Number 85 Broad Street is the home of Goldman Sachs, and Chairman/CEO Lloyd Blankfein believes he is doing God's work.

Derivatives

Where else would you expect to find highly sophisticated derivative wizards hiding their weenies but in the sewer? "This self-serving strategy of paying hefty secret fees to local firms with ties to county commissioners assured JPMorgan Securities the largest municipal auction rate securities and swap agreement transactions in its history," said Glenn Gordon, associate director of the SEC’s Miami office. Read all about it right here, on Bloomberg.com.