[Sangamon Kid]

What a ridiculous assertion that this man is responsible for "saving" our economy. The first dozen or so responses just proves that many modern day conservatives believe in the power of government just as much as liberals do. The only thing accomplished by printing more money is to devalue what's already out there. Face it you devoted acolytes of the Grand Pubah Greenspan, the Fed is unconstitutional, corrupt, and in the end, powerless to save anything.

[mickie]

Geez, you just threw cold water on the parade.....LOL

[meyer]

What a ridiculous assertion that this man is responsible for "saving" our economy. The first dozen or so responses just proves that many modern day conservatives believe in the power of government just as much as liberals do. The only thing accomplished by printing more money is to devalue what's already out there. Face it you devoted acolytes of the Grand Pubah Greenspan, the Fed is unconstitutional, corrupt, and in the end, powerless to save anything.

I don't necessarily disagree with you in principal, but the federal reserve's function is to regulate cash flow to the bank. It acts as a reserve. I doubt if they printed that much money in 2 or 3 days. They pulled it out of reserves with the primary intent of handling any runs on the bank that might have occured. As luck would have it, people didn't make massive withdrawels (though I'm sure that there was a bit more cash pulled out of the bank over the next couple of days). If there had been a cash shortage at even a few banks, things might have been different. People panic at such times.

Also, $45 billion or $90 billion, in the grand scheme of things, really isn't that big of a deal in our economy. Its significant, but it isn't huge.