The Rise of a New Orthodoxy in a Crisis

Bob Greene says we are seeing the rise of a new orthodoxy. He points to Walter Badgett's "Lombard Street" which was essentially a how to do it manual for central bankers and he said in a crisis the central bank should lend freely against sound collateral and at a penalty rate. This too will generate yet a new orthodoxy whether this amounts to a perfect cycle along a house lines i can't say but i think that um you know  the orthodoxy prevailed most famously in the late 19th century advocated byWalter Badgett former editor of the Economist magazine. Green: I'm really fascinated if not obsessed with the movements of two actors on the scene obviously Pierpont