Wall Street, Federal Reserve and socialism? You better read ...
In good times, financial markets embrace capitalism. In bad times, financial markets re-discover socialism. Currently, the U.S. Federal Reserve is engaged in a dangerous strategy to look after its Wall Street friends.
The origins of the current credit crisis lie in loose monetary policy and excessive capital flows that were turbo-charged by "financial engineering" techniques used by banks. Borrowing bought more borrowing, fueling price increases in financial assets: debt, equity, property, infrastructure. Read the rest.
Thu Dec 13, 2007 11:12AM by Tony | More in Economy | Comments (0)
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