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The Fed and the Crisis

Great, readable, mini econ lecture about the why and what of the Federal Reserve, it’s role in the current economic crisis, and what that may mean to the future of everything.

The bottom line is that Bernanke has made a gamble with something approaching 2 trillion. If the gamble wins, taxpayers owe nothing. If the gamble loses, taxpayers are committed to borrow a sum equal to any losses and start making interest payments on it.