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1 Comment
Here's Why the Fed Has No Credibility
Also during the realestate bubble, Bernanke goes to congress and says realestate market is healthy. When bubble starts bursting, he says it is "well contained". Now that it has spread, priting press is in full force. Nevermind fact that in the first place the problem was caused by the cheap money FED put into the system during Greenspan era and were sleeping to oversee the lending standards. Infact they encouraged those kind lending. Remeber Greenspan encouraging ARM loans. Yep. These are credible people.