Alan Greenspan's Ship of Fools

A Heaping Helping of Ridicule for the Fed, Please

The Fed's FOMC is supposed to steer the US economy to prosperity. As we now see, it was completely rudderless in 2006.


The public may be powerless at the moment to force our political leaders to take the steps necessary to bring the economy back to full employment. However, we certainly have the ability to ridicule the incompetence of those responsible for this preventable disaster. We should take full advantage of the opportunity provided by the latest Fed transcripts. This might not provide the same respite for a scared and suffering nation as movies did in the Great Depression, but it's a start.


http://www.truth-out.org/print/11653