Thursday, March 26, 2009
bernanke may be independent
I noticed a distinct difference in what the administration is selling and what Bernanke is advocating. The administration is willing to bail out banks to save the economy but they also want to spend to the hilt to "help" people across the country. I got the impression that Ben was talking about political will to cut back the excessive spending already started by the administration and focus on repairing the banking system. He sounded like he was saying we spend now on the banking system to uplift the entire country but if we can't get the Dems to cut spending and trying to rescue the country with entitlement programs we will never get the banks on their feet. I know the give aways to the public tend to be counter productive but sound like Bernanke believes saving the banks will save the economy or at least get us more stability. Anybody have the same impression? Curious to hear other opinions.
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