How convenient that Senator Schumer (D-NY) decided to publicly share his comforting letter from Chairman Bernanke today. The market really needed a boost after yesterday’s decline and thankfully, one was made available!! Last week it was Senator Dodd and the photo op. This week, it’s a Dear Chuck letter. What’s next? I am glad that Chairman Bernanke is communicating with Sen. Schumer but would prefer that the correspondence be kept confidential. Once again, I have no problem with the Fed doing what they feel they must. My issue is more with the fear that the Fed is doing what others feel they must. Whether that means politicians or investors. Having press conferences to discuss private meetings and letters so they affect the markets is sickening to me. Maybe it calms some people, but not me. The Fed is increasingly being used / abused and the more this happens, the more I start to wonder whether they are innocent bystanders or willing accomplices.