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While I don't hold strong opinions against the Fed's policies in general, I think there is legitimate cause for concern here. The Fed and mainstream economists
by formulaT 11y ago
While I don't hold strong opinions against the Fed's policies in general, I think there is legitimate cause for concern here.
The Fed and mainstream economists argued that they really didn't want to bail out the entire finance industry in the global financial crisis, but they had no choice. But how can they credibly make arguments like this if there is a revolving door with the finance industry? There needs to be some evidence of unbiasedness if the Fed and SEC are to be the enforcers of the deal by which banks are regulated in exchange for this kind of bailout.
- deleted 11y ago[deleted]