But the Federal Reserve was responsible for overseeing the banks that made those loans, and/or the mortgage brokers, we gave that power to the Fed and just because they did not write any regulations, we ran into all this mischief.
Bunning discusses the Fed's oversight failures leading to the housing crisis.
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We need to keep our heads cool and all of this in perspective as we move through this disaster.
Why do you think we saw a more severe move in exchange-traded funds than in the underlying stocks? Should investors be worried that these products are not as reliable as everyone thinks they are?
I listened to Chairman Bernanke's assessment of the economy in the speech he made yesterday, and he was pretty optimistic.
I happened to be watching the market very closely when this was going on, and I watched a stock called Procter & Gamble at $61 a share and then the next trade was at $37 and the next trade was at $39.
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