Greenspan beats Bernanke for that calming influence

January 17th, 2008 | Category: Federal Reserve

The stock market has taken another big hit nowadays reacting to many profitable headlines like Merrill Lynch Posts Steep 4Q Loss and Novartis 4Q Net Profit Falls 45 Percent, and worse yet a regional Federal Reserve report showed a sharp decline in manufacturing activity and as investors grew concerned that downgrades of key bond insurers could trigger further trouble with souring debt.

But that was the day that Ben Bernanke the Fed Chair reported to congress and tried to pacify the markets with his open intellect about

shoring up the economy through profitable stimulous.

Perhaps it is my imagination, but it seems to me that when Alan Greenspan spoke, for better or worse, he was able to exert a calming influence on Wall Street whether that was his intention. When Bernanke attempts the same trick somehow it feels like something is lost.

Continue reading Greenspan beats Bernanke for that calming influence

Original post by Sheldon Liber

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