Federal Reserve Bank of New York President Timothy Geithner said the central bank should play a prominent part in regulating financial institutions and ensuring market stability after the biggest credit crisis in decades.
Let me translate, the crisis we had a big hand in creating needs an even bigger hand to be helped.
Give me a break!!!!!
Excuse me, but how are you going to fix this? More regulation, socializing loses? The fix is to unwind bad debt - not with taxpayer money. Stop using FRE and FNM for origination (at least only originate under ever stricter standards) , and wind them out of business when the last bond holders are paid back. Cuba is a great example of how well nationalization works - we are trying to emulate them.
