Why Ben and Hank are right, mostly
This is bad.
Treasury Secretary Henry Paulson and Federal Reserve chairman Ben Bernanke are not yelling for help -- asking for permission to print up $700 billion of Treasury bonds, sell them, and use the cash to buy up mortgage-backed securities -- for no reason. Things are bad in the financial economy and always threatening to spill out over into the real economy, destroying jobs and boosting… » Full Story on Salon.com
Treasury Secretary Henry Paulson and Federal Reserve chairman Ben Bernanke are not yelling for help -- asking for permission to print up $700 billion of Treasury bonds, sell them, and use the cash to buy up mortgage-backed securities -- for no reason. Things are bad in the financial economy and always threatening to spill out over into the real economy, destroying jobs and boosting… » Full Story on Salon.com
