why does everyone blame bernanke? it was greenspan who kept interest rates artificially low for too long. he created the real estate/home equity bubble not bernanke. bernanke can only do so much. he is in a tough spot. i'm sure he will lower rates a but more but that will prove futile as its more of a psychological boost than anything else.
Granted GreenScam is the greater culprit, at least so far. However, Bernanke likely testified in confirmation hearings that he would, "play ball.. print money like there's no tomorrow... ANYTHING the Legislature wanted... so long as he could get the job"... He has the power and position to do what's right for America, but instead he's nothing but a lackey for the Powers. Who knows, he MIGHT even go down in history as a bigger financial criminal than his predecessor. Wouldn't THAT be something...
he is going to do what washington wants him to do,its an election year. he is in a catch 22 situation .lowering rates instead of letting the market take care oif itself is only delaying the inevitable. you can lower rates but my god,not everytime the market has a problem.
That's the problem the Fed has worked itself into. Soon, they will have lowered the rates to 1% or so and will have no bullets left... except the "ultimate bullet"... monetizing bad debt onto the back of taxpayers. What will the Fed and we as a country do then?