OT: Bernanke receives Nobel Prize

Goofy,

He failed to lead us back to Glass Steagall. The major banking failures are going to be more often in the wake of his tenure. We may see this globally in 2023 unless we are lucky because of lack of meaningful regulations.

He chose to act during the 2009 meltdown at twice the necessary cost to bailout the banks, approximately $4 trillion. If he had gone directly to congress for an income tax hiatus for homeowners to pay their mortgages and bills that would have cost $2 trillion and saved the banks. The people in his academic circles had studied doing this carefully.

The anger at what happened is justified. It may get interesting what is done if the banks meltdown this time. There wont be any excuses for bailing them out.

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