Mises Wire
Author:
Christopher Westley
Online Publish Date:
Punk, Ziegel analyst Richard X. Bove argues here that recent Fed policies and pronouncement amount to a bailout of Countrywide Financial. If so, then Bernanke’s Fed is similar to Greenspan’s in that the latter also directed Fed policy to help Long Term Capital Management. Bove: The Fed protected “moneyed interests and bad business policies’’ and