Easy-money policies created this problem

Bernanke's Speech: "It's all China's Fault, Really"

By Mike Whitney

Thanks to the Fed's ham-fisted monetary policies, a Force-5 economic hurricane is presently looming right offshore and there's nothing Bernanke or Paulson can do to stop it from touching down. If Bernanke cuts rates; commodities (and oil) will skyrocket and foreign investors will ditch the dollar. If he raises rates, banks will fail and the housing crash will accelerate. There are no good options.

//www.informationclearinghouse.info/article20043.htm

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Easy-money policies created this problem

Tennessean
by Edward Burgess

07/21/08

The announcements by Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson on Fannie Mae and Freddie Mac really say nothing new. The ultimate backing of the federal government has always been implicit in the AAA credit rating of these agencies’ obligations. What’s new is that these gentlemen felt that it needed to be said at all. … Dangers abound when, as The Economist magazine puts it, ‘profits are privatized and risks are socialized.’ Let us not forget it was the Fed’s easy-money policies and longstanding bipartisan efforts of politicians to subsidize home buying that helped create this bubble in the first place...

//tinyurl.com/5c37b4


Informant: Thomas L. Knapp



//freepage.twoday.net/search?q=housing+crash
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