Credit & Debt: The Many Faces Of Ben Bernanke

Although Bernanke was completely wrong in his estimates of how long housing failures would affect the economy, he continues to insist that the troubles are contained.

Bernanke pledged that the Fed will do all it can to prevent abuses in the subprime sector, which would be a lot more impressive if it wasn't five years too late. More typical of Bernanke was his stressing that any regulation not actually affect the market overall.

So, to recap...everything is okay, but we need more regulation, but don't actually stop subprimes from lending, because there's just so much gosh-darn homeownership!

All of the aforementioned comes from a single speech on the subprime market, mind you. Is it any wonder we're in the fix we're in, with leadership like this?

Posted at May 17, 2007 03:57 PM

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Although Bernanke was completely wrong in his estimates of how long housing failures would affect the economy, he continues to insist that the troubles are contained. Bernanke pledged that the Fed will do all it can to prevent abuses in the subprime sector, which would be a lot more impressive if it wasn't five years too late. More typical of Bernanke was his stressing that any regulation not actually affect the market overall. So, to recap...everything is okay, but we need more regulation, but don't actually stop subprimes from lending, because there's just so much gosh-darn homeownership! All of the aforementioned comes from a single speech on the subprime market, mind you. Is it any wonder we're in the fix we're in, with leadership like this?