In saving the world, the Fed beats Treasury
Posted: January 3rd, 2009 | Author: caden | Filed under: Money | Tags: Complete Meltdown, Early September, Economic Growth, Fitting Time, Global Financial System, Havoc, Lifetime Event, Market Crisis, New Year, Performance Evaluation, Policymakers, Recession, Treasury, True Credit, True Crisis | No Comments »With a new year of recession-fighting upon us, it’s a fitting time to do a performance evaluation of America’s policymakers. How well did they handle a true crisis? The credit-market crisis that erupted in early September has been aptly described as a once-in-a-lifetime event that quickly reverberated through the global financial system, bringing it uncomfortably close to a complete meltdown. Along the way, it wreaked havoc with economic growth, throwing most of the industrialized economies into a deep recession.