pochovilla

Backroom Bear Stearns Deal Exposed

The moral hazard of the FED's action was substantially less than the economic hazard. It was a case of a bad choice or worse choice. I applaud Bernanke for making a fast decision. How many decisions come out of Washington that are either fast reasonable or efficient? Left to Congress this would likely drag out for many months. $29B is going to look like chump change when measured against the loss of tax revenue from this whole mess.