Dennis Lucey

Bear Stearns Gets Emergency Funding From NY Fed, JP Morgan

Re: Ames' comment. The problem of the trade deficit is not that it exists, but that our trading partners hoarded their dollar surplus in Treasury bonds. By investing in Treasuries instead of the productive private sector, capital that could have gone to work producing things of value (the self-correction of trade deficits) instead went to finance the greatest wealth destroyer in the U.S.

As for our currency being in a ditch, look no further than the Fed for the source of the problem.