Analyzing Fed Critics: Paul Kedrosky
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Submitted by A Dash of Insight
It was a day when many questions would be raised, and a few were actually answered.
It was a time of financial crisis, with liquidity in doubt at several financial institutions. The Bear Stearns “bailout” is fresh in the minds of all, with many stories asking “Who is next?” The Fed rate decision was imminent and this time the answer was not known in advance. Before the opening the world would hear from Goldman Sachs and Lehman. Many expected big losses and further write-downs of financial assets.
