The Fed to the Rescue — Again
Did you ever think a year or so ago you’d be reading headlines like this? The Federal Reserve had to help bail out investment bank Bear Stearns today.
Wonderful. So now the Fed is planning to expand its mandate and bail out investment banks, hedge funds, brokerage houses and probably every other brandy-swilling Harvard grad who got caught-short in the subprime mousetrap. Ain’t the “free market” great?