San Fran Fed Spends More Money To Justify Colossal Failure At Anticipating Consequences Of Its Actions
Part two of the Fed's supremely ironic "Predicting Crises" series (Part 1 can be found here). After all, the Fed can either create bubbles/pyramid schemes or anticipate them. No one can expect it to do both. And it is so much better at the former, so just let it focus on what Bernie Madoff has taught it to do so well.