In about an hour Ben Bernanke will be opening the envelope to let Wall Street know who the winner is; banks, hedge funds and mortgage holders or all of us energy consumers already facing all-time high prices. Perhaps with the eyes of the world upon him, Bernanke will do a Ryan Seacrest and break to commercial. After all, how many people can command this much attention? Even president Bush gets poor ratings these days; who cares what he says any more?
Don't they say follow the money? Big Ben is not a clock tower in London any more, or a quarterback for the Pittsburgh Steelers. Big Ben is the moniker for the current Federal Reserve Chairman, and since it's all about money, you can't get any bigger than that. Expect to see him touted as the latest sex symbol on the cover of everything, as Kissinger was when he was getting so much attention with his shuttle diplomacy ... I never could figure it as a kid, but I have learned power is intoxicating and Big Ben has it.
So what is going to happen if Bernanke actually does break to commercial after saying to his world-wide audience to simply come back in a couple of months -- same time, same place. Perhaps the market will drop several hundred points and many people's hopes will be dashed. On the other hand, after the tears dry up, the investment world and mortgage holders will have to refocus on what they can do for themselves without government help. All those Wall Street guys who shun government interference all the time are now praying for it - the ultimate hypocrisy!
To find potential opportunities and verify my track record read Chasing Value or Serious Money.
Sheldon Liber is the CEO of a small private investment company and the principal for design and research at an architecture & planning firm. He is on the advisory board of Internet start-up CircleBuilder.com.
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