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Schiller as Bubble Czar, consultant to Fed


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2013 Oct 16, 4:04am   1,045 views  2 comments

by Entitlemented   ➕follow (0)   💰tip   ignore  

Do we need a financial Bubble Czar?

Would a pragmatist be good for the USA, help rein in the distortions caused by Wall St., CDOs, FHA, Freddie, Fannie, the CRA?

With huge programs comes a need to simulate the outcome on the long term finances of the country. Without this leaders can say one thing one year and do the opposite 7 years later:

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that, 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

~ Senator Barack H. Obama, March 2006

#politics

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1   freak80   2013 Oct 16, 10:46pm  

Entitlemented says

Would a pragmatist be good for the USA, help rein in the distortions caused by Wall St., CDOs, FHA, Freddie, Fannie, the CRA?

It would be good for the USA, but bad for Wall Street. So it won't happen.

2   Entitlemented   2013 Oct 17, 1:22am  

No Lifting the debt ceiling is just part of normal business, why try to limit this debt?

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