Home > Central banking > Ben begs for his job back

Ben begs for his job back

I haven’t seen a more pathetic appeal from a man to keep his job since I pleaded with a law firm to keep me on in 1999.

The obvious question:  If the Fed is necessary to save the world from the biggest crisis since the Great Depression, what caused the biggest crisis since the Great Depression in the first place?  I mean, the Fed was around when the crisis was being incubated, and had the responsibility to protect the world from economic calamities such as the one just experienced.  And yet it happened anyway.

The Fed exists for just this purpose – to steer us away from dangerous economic calamities.   And yet here we are.

It clearly failed, even on its own terms.

Could someone please explain why we have a Fed again?  Other than to save banks from themselves, at the public’s expense.

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Categories: Central banking
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