Ben Bernanke - Genius
Wednesday, October 8th, 2008First, the fear of recession. Cure? Interest Rate cuts. Didn’t work.
Then the house of cards known as Wall street finally tanks due to the greed and incompetence both there and on “Main Street”. Cure? Bailout that mortgages the future of our children’s children. And it doesn’t seem to be having the desired effect.
Bernanke’s possible solution?
Interest Rate Cut!
Been there, done that, didn’t work. Rate is now what, 2%? You can only go so much lower guy.
Instead of bailing , how about consequences for incompetence and greed? Let them fail, let them foreclose.
BTW, the crawl on my television is saying that Russia closed its stock market due to “rough trading”, and Britain is considering nationalizing its largest bank. I guess misery loves company.


