Silverbird
09-19-2008, 11:47 AM
Sept. 19 (Bloomberg) -- As the U.S. government takes stronger measures to stabilize financial markets, some former Federal Reserve officials, lawmakers and Wall Street executives are saying too much has already been done.
``Every time they intervene, they do more harm than good,'' said Peter Schiff (http://search.bloomberg.com/search?q=Peter+Schiff&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1), president of Euro Pacific Capital in Darien, Connecticut, a brokerage that manages $1 billion.
Critics of the rescues agree that government actions, such as those that prevented the failures of Fannie Mae (http://www.bloomberg.com/apps/quote?ticker=FNM%3AUS), Freddie Mac (http://www.bloomberg.com/apps/quote?ticker=FRE%3AUS) and American International Group Inc. (http://www.bloomberg.com/apps/quote?ticker=AIG%3AUS), can't postpone the inevitable worsening of housing and financial markets. They say the bailouts by the Fed and Treasury also encourage future reckless risk-taking by investors.......
http://www.bloomberg.com/apps/news?pid=20601109&sid=aIaOyCf.U_bU&refer=home
``Every time they intervene, they do more harm than good,'' said Peter Schiff (http://search.bloomberg.com/search?q=Peter+Schiff&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1), president of Euro Pacific Capital in Darien, Connecticut, a brokerage that manages $1 billion.
Critics of the rescues agree that government actions, such as those that prevented the failures of Fannie Mae (http://www.bloomberg.com/apps/quote?ticker=FNM%3AUS), Freddie Mac (http://www.bloomberg.com/apps/quote?ticker=FRE%3AUS) and American International Group Inc. (http://www.bloomberg.com/apps/quote?ticker=AIG%3AUS), can't postpone the inevitable worsening of housing and financial markets. They say the bailouts by the Fed and Treasury also encourage future reckless risk-taking by investors.......
http://www.bloomberg.com/apps/news?pid=20601109&sid=aIaOyCf.U_bU&refer=home