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Originally Posted by Mavdog
it seems that folks like lew are smiling that these companies, their employees and stockholders, are beaten down and whipsawed due to inflammatory news articles such as this.
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If you think the reason for all this is the news media, then you truely are a socialist central planner.
P.S.: Lew has been one of the people warning about this situation for YEARS, while your favorite boys Bernanke and Paulson were telling people housing prices could never collapse. Lew has been the one forecasting this shit, actually trying to prevent it from happening to the best of his knowledge, while people like Greenspan (who is well aware of the effects of our banking and monetary system today, as can be seen by his works prior to being at the Fed chief and being in investment banks) have led the world into the situation today. Even after he was Fed chairman Greenspan has admitted that he personally likes the gold standart period prior to the Fed and thinks that "the US did rather well during that period".