BerkeleyBob

It's Time for the Fed to Get Serious - Barron's

We will not see an end to the economic disaster until both varieties of bank (are there any investment banks left?) accurately assess and realistically value loan portfolios. The problem with the Fed and Treasury is they backed off of taking a preferred equity position in faltering lenders. You don't like FAS 157, come up with a better way to accomplish the result. We can not print enough money to shore up housing prices and the long term pain is going to exceed the short term gain, if any. I'd recommend reading Michael Lewis' article in the current Portfolio, Niall Ferguson's article in the current Vanity Fair. Both are lucid, unlike some posters here.