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Reply #10: He's kept interest rates far too low... [View All]

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Home » Discuss » General Discussion: Presidency Donate to DU
Yurovsky Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-23-10 10:18 PM
Response to Reply #7
10. He's kept interest rates far too low...
which basically invited speculators to borrow cheap money and buy inflated real estate in hopes of flipping said real estate for a quick buck. In addition, the continued low rates have encouraged the mega-banks to borrow money from the govt at essentially ZERO interest, and turn around and buy treasuries at 3%, a total no-downside money-making scam underwritten by taxpayers.

Oh, and in case you forgot, he was a W appointee, and was just carried over for the sake of appeasing Wall Street. Hopefully now enough people have wised up, and Bernanke will be forced to go back to the private sector. Don't shed any tears, as he'll make millions, possibly BILLIONS. Insane, isn't it?
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