Video: Bear Stearns Bailout "Worst Fed Mistake in a Generation"
On Monday, I pointed to a WSJ article, regarding the Fed's past head of monetary affairs comments on moves to prop up Bear Stearns. (Bear Stearns Bailout "Worst Fed Mistake in a Generation")
Here is the video that was the basis of that article:
click for video, then select Reinhart from list
Previously:
Bear Stearns Bailout "Worst Fed Mistake in a Generation"
http://bigpicture.typepad.com/comments/2008/04/bear-stearns-ba.html
Sources:
What Lies Beyond the Credit Crunch? Part II
AEI, April 28, 2008 2:00 PM
http://www.aei.org/events/eventID.1712,filter.all/event_detail.asp#
Our Overextended Fed
Vincent R. Reinhart
Wall Street Journal, Wednesday, March 26, 2008
http://www.aei.org/docLib/20080428_ReinhartOurOverextendedFed.pdf
Wednesday, April 30, 2008 | 03:30 AM | Permalink
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Comments
Barry,
What a great video. It is amazing that with the same facts in front of these scholarly presenters, there conclusions were so totally diverse. So much so that John Makin noted that the audience was likely very confused.
The initial comment by John Makin was also priceless He said that after listening to the comments of some of the presenters before him, he wondered what planet they came from.
Another notable comment by Allan Meltzer: The Fed's current policy of fine tuning will fail just as it did in the early seventies.
The video is long, but very worthwhile to get views from people different from the usual "Kudlow and CNBC" crowd.
Posted by: Trackerman | Apr 30, 2008 6:24:30 AM
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