Wednesday, January 25, 2012

They said it - we didn't

"The transcripts of the 2006 meetings, released after a standard five-year delay, clearly show some of the nation’s pre-eminent economic minds did not fully understand the basic mechanics of the economy that they were charged with shepherding. The problem was not a lack of information; it was a lack of comprehension..."

http://finance.yahoo.com/news/inside-fed-2006-coming-crisis-124207691.html

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