Dudley: It's Basic Math

“I cannot accept Mr. Schaeuble insulting my country…Who is Mr. Schaeuble to taunt Greece? Who are the Dutch? Who are the Finns?” the president said in a speech at the Defense Ministry.”

Greek President Karolos Papoulias, a Wednesday in mid-February, 2012, Xinhua via Al-Jazeerah.

I am unsure of the sourcing.

I am sure of the most excellent day that the University of Chicago Booth School arranged in New York City. The “fresh water” descended upon the besalted heathens of BostNewYorkington.

I was honored to advance the statements and Q&A of one Dudley, Plosser and Stark. If you know not these names, that is okay. All you need to know is it was a fiscal and monetary big deal. Everyone behaved themselves except Stark who would/strategically did/ not sit between Dudley and Plosser.

Stark, recently of the Bank of Frankfurt, was quite careful not as to taunt, to shake the assembled press and the “markets” that hang on said Press’s every syllable.

Plosser, of the First Philadelpha Bank of Dissent, waxed philosophical about a desired distance between Geithner and Bernanke.

Dudley, of the Bank of Wall Street, stepped most delicately. But there, there amidst the tight reasoning, and parsed notes was the single phrase to get you and me to March and to July of this 2012.

Dudley: “This is not a policy choice; it’s basic math.” Discuss.

Before it's here, it's on the Bloomberg Terminal.