Roger Lowenstein's article on Ben Bernanke (The Education of Ben Bernanke, NY Times Sunday Magazine, January 20, 2008) was the best summary of how the Federal Reserve operates and the historical reasons for its creation I have seen. Considering the world-wide market panic that occurred within two days of its publication, Mr. Bernanke may have left the car keys in his pocket a little too long. I am amazed an MIT educated former Princeton Economics Chair relies heavily on computer models and advice from security brokers for economic forecasts. Had Mr. Bernanke taken a break from his private dining room to have lunch with an average person on the street at a diner or cafeteria in D.C. he would have seen this melt down coming at least 2 years ago. So much for Great Moderation. Jim Cramer was right. Bernanke is a "pushover" for Wall Street.
CLICK HERE FOR THE ARTICE ON NYTIMES.COM
Gregory E. Sweet
Acquire Telecom Services, Inc
Reno, Nevada
January 21, 2008
Gregory E. Sweet
Acquire Telecom Services, Inc
Reno, Nevada
January 21, 2008
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