Thomas Hoenig calls for a process of taking over financial firms that are failing letting them know they won’t get a government guarantee. (Bloomberg News)
July 01, 2009
"Always borrow money form a pessimist, he doesn't expect to be paid back." —Author Unknown
Staying with the belief that the Fed can still do more, Bernanke said they are prepared for more accommodation if needed but he finally publicly acknowledges that "central bankers alone cannot solve the world's economic problems." He gives color on what left the Fed can do if circumstances warrant but acknowledges drawbacks to each perceived benefit. On the economy, "although private final demand, output, and employment have indeed been growing for more than a year, the pace of that growth recently appears somewhat less vigorous than we expected...Much of the unexpected slowing is attributable to the household sector, where consumer...
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August 20th, 2009 at 7:04 am
[...] Disclosures « Hoenig Calls For Takeover Process For Failing Firms [...]
August 20th, 2009 at 11:38 am
[...] See this July video, Hoenig Calls For Takeover Process For Failing Firms. [...]