Article

2009-07-27 Economy

Bernanke had to 'hold my nose' over bailouts

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Posted by tipper 2009-07-27 00:00|| || Front Page|| [3 views ] Top

#1 He should have stayed his hand instead and protected depositors (printing money if needed (bond defaults will cause more deflation than printing the money for depositors will cause inflation)).

Posted by Bright Pebbles 2009-07-27 09:59|| 2009-07-27 09:59|| Front Page Top

#2 ...the action had to be taken to avoid a major meltdown of the U.S. financial system and the broader economy...

So what we're experiencing right now is NOT a major meltdown?

Posted by Ebbang Uluque6305 2009-07-27 14:53|| 2009-07-27 14:53|| Front Page Top

#3 So what we're experiencing right now is NOT a major meltdown?

Ah, didn't you get the memo; the economy was saved, and you're welcome.

Posted by Rahm">Rahm 2009-07-27 18:25|| 2009-07-27 18:25|| Front Page Top

#4 A major meltdown is when all the banks & ATMs are closed, no one accepts credit cards, your boss has locked you out of your workplace, and the water & electric companies have shut you off, not because you didn't pay your bills, but because they can't afford to stay in business. No, this is a minor meltdown.

Posted by Anguper Hupomosing9418 2009-07-27 19:10|| 2009-07-27 19:10|| Front Page Top

#5 Most of the current meltdown appears to me, in my abysmal ignorance of matters financial, due to stupid moves by the current administration in Washington exacerbating the accruing costs of delaying unwinding the credit default swap positions... whose past and current value both cannot be known until the unwinding is complete. But again, my real understanding of finance pretty much stops when Mr. Wife gets my checkbook balanced... and we are both awfully glad he's the one balancing it.

Posted by trailing wife">trailing wife 2009-07-27 23:07|| 2009-07-27 23:07|| Front Page Top

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