TheMeeper Wrote:
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> The Post ran a good article about this today.
> This has a bigger impact than one might think...
> it's not just a bailout, it could alter the way
> the whole market works in the future. Sets a bad,
> bad precedent...
>
>
http://www.washingtonpost.com/wp-dyn/content/artic
> le/2008/03/27/AR2008032703662.html
Between the Fed doing this and Fannie Mae adding bad sub-prime mortgages to its portfolio, the Administration is essentially turning the Federal Government into the kind of Nanny-State Republicans are so fond of railing against. Pathetic.
Of course, this is in keeping with Bernanke's failed leadership of the Fed. He has abandoned the dollar and taken his eye off of inflation in order to cut rates which, in effect, do nothing more than increase the profit margins of banks while increasing the risk of inflation without easing the credit markets.