Friday, February 20, 2009

I'm just saying...

If this crisis proves nothing else, it proves you cannot help people by lending them more money than they can pay back.--Phil Gramm

Surely, unintended consequences are a real danger when the monetary base has been bloated by a doubling of the Federal Reserve's balance sheet, and the federal deficit seems destined to exceed $1.7 trillion.--Phil Gramm

I think we are headed for the mother of all unintended consequences down the road.

No comments:

Post a Comment