Submitted by Benjamin Katcher on March 31, 2008 - 3:07pm.
The Fed made the right move. Even the most ardent free-market enthusiasts posit that perferct or near-perfect information is necessary for markets to function properly. In this case, there is clearly a great deal of uncertainty. The Fed's purchase will help to buy time for Wall Street to sort out where the losses are and adjust prices accordingly.
The Right Move
The Fed made the right move. Even the most ardent free-market enthusiasts posit that perferct or near-perfect information is necessary for markets to function properly. In this case, there is clearly a great deal of uncertainty. The Fed's purchase will help to buy time for Wall Street to sort out where the losses are and adjust prices accordingly.