Bernanke is not the FED, he just opens his mouth for them. So he is not cleaning anybody's mess, he is just a new spokesman for the FED.
Agree 100% I would also like to add that not only is RP intelligent and honest, he's lived his entire life with integrity. He did not even take out student loans for his children's college and medical school educations. He did not want the tax payers subsidizing his children's educations through the federal government's low-interest loan programs.
Ron Paul, as I've said has some fine points of view, but he's a bit of a clown when it comes to expressing them. Remember, he's not just some pundit who sits on tv or in a radio studio. He's a MEMBER OF CONGRESS. He bears as much responsibility as anyone else in Congress for the problems he describes; and that's all he seems to be able to do. He can speak for hours about what's wrong, and who's to blame. Alexis Glick just asked him a simple question: she described his performance in the committee room today and then asked him, "what can be done now". He was completely stumped. He had no answer, and that is the problem that I have with the libertarian view is that they tend to want to give up ALL responsibility for anything. People are angry now (rightly so), and hearing someone enumerate what's wrong is just what angry people want to hear- it gets them excited. But sooner or later, one of these people who have it right (libertarian/strong dollar/low deficit, ect) are going to have to step up to the mic and clearly tell the voters just what needs to be done, and how it will be done. I'm afraid that the best option this year is a choice between an absolute disaster (Obama) and an ineffective lifetime bureaucrat(McCain). I suppose I'd take the latter in a pinch
But it's important to note that most of the Fed governors that are currently on the current Fed board were not even around 3 years ago, and thus were not part of Alan Greenspan's tenure.
Dude, he's not cleaning up the mess..he's taking a dump on the floor where the mess is.. Greenspan set the fire.. Helicopter Ben is putting it out with gasoline... Debasement, counterfeiting, socialism!!!
Good post! ImPO it's not that RP hasn't got an opinion on what he thinks needs to be done, it's just that his opinions are way too radical for Wall Street. I believe his inability to comment could possibly have been to do with other factors apart from immediate suggestions he doesn't have a clue. But I see what you mean. The man can think for himself, unlike so many other candidates who keep replying with the same answer to different questions, as they probably can't say what they think or not supposed to.
And do you think that the housing market and its tremendous impact on all aspects of our economy will ever have a chance to "stabilize" or come back when Fannie and Freddie ( who securitized 60% of the mortgage origination out there ) are allowed to go belly-up? Given the complete collapse of the banking sector and lack of capital, who would be able to take "their" place ( and do so successfully ) if they were allowed to go under? Please answer me that one.