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Market Participants Want To Trust Bernanke [view article]
This begs the question as to which "market participants" trust he is courting; the equity traders who count on the "Greenspan Put"? The money center banks and wire-houses who created, with the help of the Fed, an asset bubble in housing? The speculators, deadbeats and spend-thrifts who got caught when the music stopped? Bernanke came on board when the Titanic was 2-feet from the iceberg and no matter what the Fed does these excesses will need to wash through the system; it can be delayed at enormous cost but the price will need to be paid. Tall Paul had to put a world of hurt into the system to right the ship in the 1980s and we'll need equal steel (and pain) to correct what has happened in the credit markets. Feb 14 12:05 PM

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