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The Green Splash and the Fed's Bailout of Asset Holders
I think it encourages bad behavior or unsustainable behavior and you can get away with it for a long period of time indeed do we've gotten away with it now for decades but the logic of it is that it can't go on forever. I guess the worry that I would have is that we have been storing up for ourselves problems that have been getting sort of bigger and bigger and bigger. Each time we've had a problem we've solved it by more of the same policies, he says.