Amusing Daily Show video on the original bailout:
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I suspect this entire bailout is going to look embarrassing in the near future.
I know its late Friday and I'm sorry for the rant but a headline across the tape forced my hand. From a speech on June 25th to the BIS that the Fed officially released today, Fed Vice Chairman Kohn said that "the root cause of our problems was the underpricing of risk as the financial sector interacted with nonfinancial sectors" and that "leverage was a symptom rather than a cause of the underlying crisis." He has a Ph.D and I don't but I want to correct him that easy money policy under Greenspan that had the fed funds rate at...
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November 14th, 2008 at 8:22 pm
Every thing they have come out with is straight out of the Lucy Ricardo School of Economics.
November 14th, 2008 at 9:40 pm
“Ba-ZING!”