Garfield, the bar has been raised with this bailout
Fed chair Ben Bernanke said Wednesday to expect economic activity to “fall short of potential for a time.”
A bit of an understatement on the day that the Dow dropped another 733 points, eh?
Peter Goodman at The Times noted Mr. Bernanke also made this curious observation at his Economic Club of NY appearance:
The real concern that we have is that we have got and developed, in this country, a very serious ‘too big to fail’ problem. And that problem, we’ve just recognized now in the current situation, how severe it is.
Just recognized? That’s right. I forgot the banks just kinda merged themselves.
Or has this all just been a red scare?
