sabre_jenn

It's Ugly Out There. What's Washington Waiting For?

The Fed really can't do anything about the current crisis -- Japan lowered rates to (effectively) zero and 15yrs later it has done nothing to change the fact that bad loans were made to un-economically viable projects.

It is Wall Street that doesn't get it.

No matter what the Fed does, the emperor (Wall Street) has no clothes. After the foolish Fed gives Wall Street what it wants (zero Fed Funds) -- the problem will still be with us, and then Wall Street will be forced to look in the mirror at the real problem.

I agree with eponymousLTC's earlier comment 100%