Heckuva Job, Bennie!
That quarter-point rate cut the markets simply had to have really did the trick, eh Bernanke? OK, so the market eventually figured out that maybe you were done handing out free money to the overpaid clowns on Wall Street to blow on their Ponzi schemes, I mean, innovative structured finance products.
Strange how now that those Ponzi schemes are dead and buried, free money doesn't seem to matter. Seems no one want to loan money without the guaranteed, suckers' return, and no one wants to loan money unless its backed by decent assets and reasonable reward/risk payoffs.
But how can that old-fashioned way of doing business move our economy ahead? Surely we can't move back in time, to a way of doing business that depends on reasonable underwriting!
Better get the inkjets back together for an emergency meeting and figure out how you can inflate an asset bubble that Americans can borrow against, and fast, otherwise how are consumers going to spend more and more on all of that stuff they can't actually afford?
We've been through crummy tech stocks, crummy houses, back to crummy tech stocks, what next? I got an idea for ya: you can plant them and wait for the blossoms, or you can swap them for millions of dollars. Why not inflate a tulip economy for a while?