Quote of the day: Michael Douglas as Gordon Gekko
Ben Bernanke and Alan Greenspan have been the worst monetary stewards in U.S. Federal Reserve history. A former Fed Chairman William McChesney Martin Jr. once said it was the Fed’s job “to take away the punch bowl just as the party gets going.” Alan Greenspan and Ben Bernanke, with their easy money polices, failed to do so. Their role is one of oversight, not befriending Wall Street.
Therefore, I must quote from Michael Douglas in the classic 80s movie “Wall Street“:
If you need a friend, get a dog.
Something for Chairman Bernanke to think about. Oh, and check out the mobile phone Michael Douglas is using in the movie — doesn’t exactly fit in the pocket, eh? I love the 80s.