Hardly.
If he's counting on the ability of Roach to predict the future.....
Most people have no idea how grave the present situation is or the disaster the country will face if trillions of dollars of over-leveraged bonds and equities begin to unwind.
How do bonds and equities "unwind"?
Fed chief Bernanke hasn't done much better than Paulson. His three-quarter point cut to the Fed's Funds rate hasn't lowered interest rates on mortgages
30 year mortgages are below 6%.
All it's done is weaken the dollar and trigger a wave of inflation.
The dollar has strengthened in the last week.
Bernanke's "master plan" is little more than a cash giveaway to sinking banks. It has scant chance of succeeding. The Fed is offering $.85 on the dollar for mortgage-backed securities (MBSs) and collateralized debt obligations (CDOs) that sold last week in the E*Trade liquidation for $.27 on the dollar.
Taking MBS as collateral for a loan that must be paid back is not a "giveaway".