Easing tends to create liquidity flow which lends to eventual bubbles and over leveraging (excessive debts). The US markets would have been just fine after the 9/11 "inside job" without any federal reserve easing. The bottom line is the privately owned federal reserve needs to be federalized and taken over immediately! http://www.endthefed.us/
The proposal of a "transaction tax" came from Oregon House of Representative, Pete DeFazio, which another 12 Dems signed onto and sent to Pelosi. The logic behind it was to pay for the $700 Billion "bail-out". http://www.defazio.house.gov/index.php?option=content&task=view&id=438 (scroll down to end of page) This will never become law.
Ask and you shall receive... "Foolish liberals who are trying to read the 2nd Amendment out of the Constitution by claiming it's not an individual right or that it's too much of a public safety hazard don't see the danger in the big picture. They're courting disaster by encouraging others to use the same means to eliminate portions of the Constitution they don't like." - Alan Dershowitz " Well, there have been a couple of lonely voices saying that. How FDIC became to be perceived as american as apple pie and baseball is a mystery to me...
I do understand. No one passed the buck, "they" didn't do their job (at least not to any reasonable measure)!!! Does an insurance company sell term life insurance to terminal cancer patients for the rates of a healthy 20 year-old? My point was, that my or anyone else's wanting the best return on a CD did not create this situation as I felt you implied in your original post.
By chasing yield without worrying about the sanity or health of the banking institution offering that higher yield, you are Ground Zero of the "privatizing profits, socializing losses" problem.
MSNBC blowing up Alan Greenspans spot now, hopefully he'll get hung like some of these CEO's Mazillo, BSC CEO, Dick Fuld, etc etc.