Peter J. Wallison | Real Clear Markets
Rather than an unsuccessful effort to avert a crisis, the Bear Stearns bailout was actually a principal cause of the disastrous panic that hit the markets six months later. To many on Wall Street and elsewhere in 2008, the rescue of Bear established a policy that the government was going to rescue all the large financial institutions. Otherwise, the bailout made no logical sense.
Mickey Levy, E21
This week Fed Chairman Jerome Powell will oversee his first FOMC meeting. The Fed will deliberate on its monetary policy, issue an official Policy Statement, and provide updated forecasts in its quarterly Summary of Projections (SEPs). In addition, Powell will conduct his first press conference. The Fed is facing growing economic momentum and a host of thorny problems at a time when only three of seven Governors are in place. Read more here....