The Alan and Ben Show - Don't Worry, Be Greedy

Tow interesting headlines:

Fed may keep open lifeline to financial firms

Fed Sees Turmoil Persisting Deep Into Next Year

According to the article Mr. Bernanke said that the Fed would issue next week long-awaited rules to restrict new exotic mortgages and high-cost loans for people with weak credit.

Looks like Mr. Alan (Greenspan) and Mr. Ben were on a different planet all these years. ANYONE with a brain knew exactly what was going on- new financial products being 'engineered' and sold, by greedy firms and individuals to greedy firms and individuals. Lack of fiscal responsibility, and wanton ignorance of risk by both creators and buyers was evident to anyone who wanted to observe. The federal institutions and the people charged with oversight chose to sit back and smoke cigars.

Now, after the 'fast and loose' train has derailed and destroyed many a life, Ben seems to have seen the light and wants to craft appropriate regulations. The Alan and Ben Show has certainly been trying - to let the financial companies know that they need not worry as the 'Fed' is on their side....those firms can just continue to be greedy.