[quote=underdose][quote=Casca]Bernanke isn’t stupid. He’s obviously trying to land this turkey in the river, instead of the middle of Wall St. A good man in a bad cause.
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Really? Have you read his 2002 speech? He is either grossly misguided (ie, stupid, incompetent) or downright malevolent (ie, evil). A good man would either not have taken the job knowing full well the turkey can’t be landed in the river, or would have more honest candor about what truly needs to be done…. [/quote]
BB is clever. I agree that he is not a particularly good man. He convinces himself that he shouldn’t cater too much to concerns over moral hazard. That’s just a fancy way to say that he believes it’s OK to support and encourage immoral behavior. And he has a lot of company. I would guess that at least 2/3 of the population is rooting for immoral behavior that will personally enrich themselves, by levitating their house prices some more.
