If only we had 100 of these type of minds in the Senate, one could be hopeful again of the long term outlook of the country.
15 minutes of cool....
As an aside he touches on the thought the Fed should raise rates - I've written countless times that the current policy is to steal from America's savers to recapitalize the banks and the debtors. I never had a firm number to put behind it but I read this weekend that bank analyst Chris Whalen has put this figure at the tune of $750 Billion annually. Think about that for a moment... savers subsidizing our banks and debtors to the tune of 3/4 of a trillion a year. Take that seniors! [Mar 31, 2010: Ben Bernanke Content to Sacrifice American Savors to Recapitalize Banks and Benefit Debtors]
[May 27, 2010: David Einhorn Op-Ed: Easy Money, Hard Truths]
[Oct 19, 2009: David Einhorn's Speech at Value Investing Congress]
[Jan 5, 2009: New York Times Opinion Piece by Lewis and Einhorn]