about this blog
- Elizabeth MacDonald is the stocks editor for Fox Business Network. She is recognized as one of the top prize-winning business journalists in the country, and has received 14 awards, including the top prize in business journalism, the Gerald Loeb Award for Distinguished Business Journalism, and the Newswomen's Club of New York Front Page Award for Excellence in Investigative Journalism.
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Dan in Missouri
Great comment, If the Greenspan were still at the helm he would change the tools, he said as much before he departed. Bernake seems to think changing nothing guarentees the same success Greenspan had. We all saw the housing bubble coming 3 years ago. The fed should have anticipated increased opportunity for passing on risk and stemmed it at that time! risk and control is simple if you spen the time evaluating it. The changing rate is actually doing nothing to the mortgage rate now, a sign the gas pedel is broken and its time to find the brakes. Let let the crash happen. Better 3 days of serious pain, that a year of aching while other problems are created.