Angry Fed-ers
May 2nd, 2008 by Peter SudermanWhat do former senior Fed officials think of the Bear Stearns bailout? At least one is convinced it was a bad move indeed. From the WSJ:
The Federal Reserve’s rescue of Bear Stearns Cos. will come to be seen as its “worst policy mistake in a generation,” a former top Fed staffer said.
The episode will be seen as comparable to “the great contraction” of the 1930s and “the great inflation” of the 1970s, Vincent Reinhart said Monday.
