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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (429433)	10/23/2008 11:35:01 AM
From: tejek	Respond to of 1570334

Struggling to Keep Up as the Crisis Raced On I am inclined to believe Paulson and Bernanke underestimated the problem until very late in the game. I know Cramer was screaming loudly in August of 2007 that something had to be done asap and was ignored. At the same time, in all fairness, inflation was ramping as this crisis was developing making it difficult to inject money into the system and to lower fed rates. No one was sure if oil prices were due to a diminishing commodity or speculation. As it turned out, it was mostly the latter but we didn't understand that until July. I suspect things came flying at Paulson at such a fast pace that he became overwhelmed. God knows this crisis would have broken a lesser man. And really if the best you have with whom to ally is B. Bernanke.....well, Paulson was pretty much on his own.