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"The greatest tragedy would be to accept the refrain that no one could have seen this coming."
Without the bailout, McDonald's wouldn't have opened and your phone service might have stopped.
The Federal Reserve chairman really gave it to China today.
The Fed chief tells the world to blame the other guys for slowing down the global economy.
Goddamn if they're going to let this administration save the economy.
When he announced $600 billion in new Fed spending on Wednesday, the markets didn't blink. Why did they soar on Thursday?
Ben Bernanke promises to spend $600 billion so America doesn't turn Japanese.
People buy treasuries at negative interest rates, betting on a flood of new money.
But don't go looking at him to solve everyone's problems.
Plans to reinvest proceeds from mortgage-backed securities into Treasuries.
In which the Fed chairman contemplates reform.
The Fed might be getting bigger.