It looks like Ben Bernanke is getting re-elected and the American people don’t get a vote.
A porcupine with a bad head cold taking excessive amounts of tranquilizers after watching a 24 hour marathon of Beavis and Butthead episodes could have figured out that keeping interest rates low was a good thing to do recently.
Then again, Big Ben learned from the person who really caused this mess and that is his predecessor, Big Al Greenspan.
Bailout Ben, as he may get to be known in the future, does not deserve the chance to continue. It’s time for new leadership that comes from outside of the inside of the financial world and government as we know it.
Al and his briefcase, that probably had a baloney sandwich in it, kept rates very high earlier in the decade and then did not see the regulations that needed to be put into place to keep the economy real late in his term.
He just kept his smugness going after knowing that he could control stock prices by his irrational exuberance quote.
From then on, he thought he was more important than Jesus (sorry, John Lennon).
We will look back on this decade as a time that we were lucky we didn’t get into trouble earlier but hopefully, we can get out of it and return people to work, have them buy homes and give them logical loans.
BTW, It’s been written that Greespam (not a misspelling) actually had an Option Arm on his house. Makes you wonder.