It’s a Bird! It’s a Plane! No, it’s SuperFed!

It seems we’ve entered the age of the the super fed. Able to engineer and finance take overs like

 JP Morgan’s purchase of Bear Sterns. Able to take over Fannie Mae and Freddie Mac at a liability of trillions, able to broker a line of credit to AIG for 80 billion dollars.

 

At the heart of Super Fed are two men. Federal Reserve chairman Ben Bernanke

and Treasury Secretary Hank Paulson. Together they have done a remarkable job of keeping the economy afloat in a sea of turmoil while doing their best to avoid moral hazard on wall street.

This crisis is plenty scary and we haven’t seen bottom yet, but super fed has done an excellent job navigating a crisis that in another era would have caused a national depression.

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