Who is our economy for?

Will The Fed Bail Out The Fat Cats Yet Again?

As I observe the professional reaction to the “mortgage crisis” and the credit crunch – coming from the bursting housing bubble – I am struck by the degree to which everyone is looking entirely to the Fed to bail out the big players. It is an expectation. It is the understanding of the financial class that they will be bailed out by the government – at the expense of the taxpayers. Again.

That is what is so disheartening, there isn’t any debate about this. There is simply an unspoken agreement that it is the job of the Federal Reserve to make sure the big shots don’t get hurt.

Consequences are for the little people.

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