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#12: Danielle DiMartino Booth on Why The Fed Is Bad for America
Superinvestors and the Art of Worldly Wisdom
The Fed's Culture of Moral Hazard
He would float the fact that he was about to move interest rates to bond traders before letting the New York Fed's open market operations implement the move. And other opportunities presented themselves, 1996, a rational exuberance, hey, maybe some higher margin requirements would come in handy here,. If you think that the stock markets a runaway train and or 1998 with long term capital management, he was the architect who saved that fledgling hedge fund. But at every stop along the way, moral hazard went through the roof and interest rates were taken lower and lower and lower.
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