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ĎAgitatorí Steve Forbes slams Fed, Obama for crisis
Boston Herald | 2/3/10 | Thomas Grillo

Posted on 02/03/2010 2:21:34 AM PST by xtinct

Former presidential candidate Steve Forbes blamed the Federal Reserve for sparking the recession and said President Obama has hindered the recovery.

In a speech yesterday to the Boston College Chief Executives’ Club, the editor in chief of Forbes magazine said the economic crisis was avoidable.

“It was the result of a series of mistakes starting with the Federal Reserve, and not a sudden outburst of greed,” he said. “The Fed ginned up the monetary printing press and kept interest rates artificially low.”

The result, he said, caused cataclysmic events including the bursting of the commodities and housing bubbles that sent the economy into a tailspin.

“When an institution as powerful and important as the Fed makes a huge mistake like that, strange and bad things happen,” he said.


TOPICS: Crime/Corruption; Front Page News; Government; News/Current Events
KEYWORDS: crisis; economy; fed; forbes; obama; recession; steveforbes
And Obambi was up in New Hampshire yesterday blaming the Republicans...
1 posted on 02/03/2010 2:21:34 AM PST by xtinct
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To: xtinct
muffed up... Here's the link!!
2 posted on 02/03/2010 2:22:54 AM PST by xtinct (The will of God will never take you where the Grace of God will not protect you..Be Strong Patriots!)
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bttt


3 posted on 02/03/2010 2:23:41 AM PST by Matchett-PI (Obama's mentor Saul Alinsky was the man who transformed politics in America into all-out war mode)
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To: xtinct

“When an institution as powerful and important as the Fed makes a huge mistake like that, strange and bad things happen,” he said.
_________________________________________________________

Set up a system something like Milton Friedman suggested with steady growth in the money supply based on economic growth. Presto. No more Fed caused disasters.


4 posted on 02/03/2010 2:29:47 AM PST by Woebama (Never, never, never quit)
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To: xtinct
He is right, for a homeowner was assured by our leaders that a home was a good investment instead of a policy from the FEDS that made it a high risk and turned the housing market into a speculation in which they could lose.
5 posted on 02/03/2010 2:29:48 AM PST by wmposh
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To: xtinct
“When an institution as powerful and important as the Fed makes a huge mistake like that, strange and bad things happen,” he said.
So the first thing you should ask yourself if it really was a mistake or if it was intentional.
They had to have know the consequences of their actions. These are, purportedly, some of the smartest money men in America.
Or maybe they aren't and pink slips need to be handed out.
6 posted on 02/03/2010 3:26:24 AM PST by philman_36 (Pride breakfasted with plenty, dined with poverty, and supped with infamy. Benjamin Franklin)
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To: xtinct

Imagine how sound this economy would be right now if we followed “agitator” Steve Forbes economic policies all these years.


7 posted on 02/03/2010 3:33:28 AM PST by JohnLongIsland
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To: xtinct

One of Forbes columnists and a money manager is Obama’s closest advisors and earliest funders. Closer than Axelrod. Another reason I dropped Forbes. Forbes and AA made this guy wealthy and helped get O elected.


8 posted on 02/03/2010 5:43:07 AM PST by Frantzie (TV - sending Americans towards Islamic serfdom - Cancel TV service NOW)
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To: xtinct; wmposh
There is only one solution to Wall Street corruption and banking greed . . .

Move Your Money Out of Big Banks -- Support Local Credit Unions & Small Banks

9 posted on 02/03/2010 6:09:21 AM PST by ex-Texan (Ecclesiastes 5:10 - 20)
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To: xtinct
"Oh, what a tangled web we weave, when first we practice to deceive".

Ok, Freeper HTML astute, let's see a picture (animated would be nice) of 0bama in the spider's web.

LOL! SOT

10 posted on 02/03/2010 12:29:48 PM PST by SlightOfTongue
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To: philman_36

*So the first thing you should ask yourself if it really was a mistake or if it was intentional*

weeellll....look at whom the admistration has on it’s payroll (how many “former” Federal Reserve people, again? )

...first we had a ‘supersecret’ House meeting over ‘security’ back in March 2008,
then we had Fannie/Freddy Dance http://www.cnbc.com/id/25573566
and babyIndy joined in
http://articles.latimes.com/2008/jul/08/business/fi-indymac8
Schumer and his “leaked”memo causing a run on said bank
http://www.rightpundits.com/?p=1726
note the comment at the above, “What was a manageable financial challenge that we were emerging from...[in Jul 2008]”
and how many taking heads actually gave people advice to ‘walk away’ from their loans? and what agencies engineered those loans with their ‘downpayment’ programs (although they managed to get those ‘downpayments’ back, by bullying sellers into paying those for the buyer in the form of ‘cash-backs’)

Zero was about as down in the polls as he is now - never let a good crisis go to waste, eh?


11 posted on 02/04/2010 2:01:16 AM PST by blueplum
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