All you have to do is review how many boom and busts have occurred since they were institutionalised in 1913.
Come to think of it "institutionalised" brings up a slightly different thought that would be somewhat appropriate for these clowns.
I remember that great genius of all FED heads, Ben Bernanke ( he who saved the financial system in 08 ) stating with great confidence that "the sub prime housing problem will not affect the broader housing market"
Brilliant absolutely brilliant as he went on to say house prices just do not go down, or words to that effect.
Now if that doesn't inspire confidence and adulation, I just don't know what to say.
Ol Geronimo Powel seems to be of a different ilk so we'll have to see how it all plays out.
