At this point, there is absolutely nothing that our so called Treasurer, Timothy Geithner and Chairman of the Federal Reserve, Ben Bernanke and the Obama Administration are doing that cannot be construed as wrong.
Last week, The Bernanke informed everyone that there were not clear legal grounds for simply charging every person who benefited from current foreclosure practices with a crime. Luckily, Bernanke does not work at the Department of Justice.
This week, Geithner has decided that he will be the first to make certain there will be no witch hunts whatsoever, and that derivatives, while susceptible to abuse, are not in all instances wrong, and in fact do provide an important component of our current economy. This is huge people, and it is the continued rational analysis, that Paul Krugman has spoken about to 'fix the system without breaking it'.
Read More