Surjit S Bhalla asks few questions in BS that the starter has to think and do home works to get answer so consider some of them;
“…..when everyone has been proven wrong, let us assess what some of the maestros have said, and done. Internationally, the clever people were baying for Bernanke's blood, stating that it was a huge mistake to not let Bear Stearns fail; a mistake because of the principle of moral hazard (didn't you know that Wall Street does not learn a lesson when 95 percent of its wealth is wiped out?).
This "intellectual" non-market pressure was an important component in the US Fed making its first mistake through this financial crisis which started in August 2007 — and what a mistake it has been. It has brought not only the
It was less than two months ago that several non-market experts were claiming that the RBI was way behind the curve; eg Ajay Shah argued for more monetary tightening, in September, because the highest interest rates in the world were too low to combat imported inflation! (Wall Street Journal Online,
As of October ’08, the consensus was that