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Transcripts from Fed meetings in 2006, released yesterday, show how its top policy makers mostly...

Transcripts from Fed meetings in 2006, released yesterday, show how its top policy makers mostly failed to anticipate the mortgage-bond crisis, with Ben Bernanke and others expecting a "healthy" cooling of the housing sector that would have little impact on the financial system and the broader economy.
Comments (5)
  • bbro
    , contributor
    Comments (9318) | Send Message
     
    Wonder if there are transcripts of all the risk managers of all the insurance companies and investment management firms that bought
    mortgage securities in 2006?? "Housing is going to be fine but if it
    blows up we get to sue to get our money back"
    13 Jan 2012, 05:58 AM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    This report is very telling....it shows they did not know ANYTHING....so extrapolate...why today do we think they KNOW what is going on.....they do not....got gold.....
    13 Jan 2012, 07:46 AM Reply Like
  • tomorourke1
    , contributor
    Comments (28) | Send Message
     
    The Fed sits at the Apex of American finance and if they had no clue what the heck were the rest of us to do! However GS was largely short in this timeframe -- makes you wonder.
    13 Jan 2012, 11:16 AM Reply Like
  • Jean-Francois Morf
    , contributor
    Comments (40) | Send Message
     
    FED did not know that all GS shorting are self fulfilling prophecies?
    FED belongs to Goldman Sachs, as USA and Europa governments!
    13 Jan 2012, 11:34 AM Reply Like
  • snaildarter
    , contributor
    Comments (7) | Send Message
     
    This proves regulators can't let themselves fall victim to the herd mentality that infects every boardroom in America and across the globe. But it’s hard to do, they get pushed along with everyone else until the bubble pops, then the herd starts pointing fingers at anyone but me.
    13 Jan 2012, 01:18 PM Reply Like
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