Oh there are a lot of Benanke critics. And there were a lot of Greenspan critics before the current crisis. Oh and by the way he was primarily responsible to the interenet bubble too if you couldn't figure it out.
If lowering the fed funds rate has no effect why did he do it at the first sign of any trouble? Asian currency crisis, LTCM, Y2k, etc.
Even if you argue that the effects were just psychological, he knew that the market reaction would be mostly positive, though the economic situation didn't...
This is what I posted in another thread regarding the suggestion that Cramer be the next SEC Chair. I guess we can all agree that Cramer is a clown. Haha.
"How are shortsellers responsible for Lehman's failure? They opened up their books even to foreign banks and nobody wanted to buy them...
I'm sure its legal as delineated in the small print, but it doesn't seem right. How long can they typically freeze redemptions?
Perhaps Madoff should have frozen redemptions indefinitely.
This book gets incredible reviews: http://www.amazon.com/Relearning-See-Improve-Eyesight-Naturally/dp/1556433417/ref=pd_cp_b_1?pf_rd_p=413864201&pf_rd_s=center-41&pf_rd_t=201&pf_rd_i=0684814382&pf_rd_m=ATVPDKIKX0DER&pf_rd_r=1GJYKG68KDQB3TVPR23T . I just ordered it. Hope my eyesight doesn't...