markg

Just Another Credit Crunch?

Re: the last paragraph in the article...so we are supposed to believe that the same federal reserve chairman, who said in 2005 that we are not in a housing bubble, is supposed to ride to the rescue? At the time, that sounded like more of Clinton's "this is the new economy.."

And we still have room to drop rates? So far this has been highly inflationary, and mortgage rates have been rising, which is the opposite effect of the intention. Bernanke is supposed to be the smartest guy in the room, but he sure hasn't shown it so far.