Because US dollar is the reserve currency, Bernanke, Obama, Geithner, US Congress, and the captains of the financial institutions should take a leadership position, be fair to everyone. Not just print money to get out of problems for US and let the whole world pay for it.
If people around the world do not have confidence in US dollar, then pretty soon we will be using dollar bill to wipe our rear end.
To answer your questions about what to do. I think the first thing Obama adminstration needs to do is sending all the crooks to jail. Look at Bernie Madoff, he was the chairperson of NASDAQ and operated a Ponzi game in the past 20+ years, his whole family was in that business and live like a king. What happened?
The mismanagement of government and crimes of ruling elite shoule be investigated, and punished as needed, not print more money to save their ass. AIG should be breakup into many operating units and sold to whoever at whatever price. I am willing to buy and run a department and give me a chance....
Federal Reserve Bank buys Tresuary Bond is crazy. Where is the basic accounting principal? Can I go to my computer and add a bunch zero at the end of my checking account balance? If Fed can do that, what is the value of US dollar?
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