The Economics of Fear - The American Spectator | USA News and Politics
The Economics of Fear

The TARP special inspector has concluded that Fed chairman Ben Bernanke and Bush Treasury Secretary Henry Paulson made numerous misleading or false statements to legislators in order to ram through the original TARP.

Meanwhile, John Taylor notes that the financial panic began not after the collapse of the investment bank Lehman Bros., as is commonly thought, but after the unruly rollout of the TARP.

So it seems entirely possible that Ben Bernanke and Henry Paulson, during September and October of 2008, lied about financial conditions to the public and bent the rule of law in dealing with the banks, and that these abrupt measures threw the financial world into a panic. And yet Bernanke is the guy that President Obama wants running the Fed for another term?

(h/t Tim Carney’s twitter)

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