The Bear Stearns bailout? May have broken the law Kevin Phillips says. He references former Fed chairman Paul Volcker, who in essence calls the actual action, not the possibly illegal vote to approve it, as violating at least the spirit of Fed governance.
It’s just one of several mistakes, miscues and worse that Bernanke, The Worst Fed Head Since Greenspan™, has engaged in.
Phillips is also right on the money in deploring the number of Democrats lined up to still support Big Ben.
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