N.Y. Fed President Urges Quick Action on 'Asset Bubbles'

Money News ^ | 04/07/10

[TigerLikesRooster]

N.Y. Fed President Urges Quick Action on 'Asset Bubbles'

Wednesday, 07 Apr 2010 01:08 PM

While asset price bubbles are difficult to identify, they occur "fairly frequently" and uncertainty should not dissuade policymakers from taking action to address them, New York Federal Reserve Bank President William Dudley said on Wednesday.

Determining whether a run-up in asset prices is in fact a bubble "is not easy because asset bubbles are hard to recognize in real time and each asset bubble is different," Dudley said in prepared remarks to the Economic Club of New York.

"However, these challenges cannot be an excuse for inaction," he added, noting that "recent experience strongly suggests that asset bubbles exist and their collapse can be very damaging" to financial markets and the broader economy.

[TigerLikesRooster]

P!

[Shady]

The first thing that will go in the New United States of America is the Federal Reserve.

[nomorelurker]

I read this as let the government control the markets and all will be good. Don't think that has worked out too well before.

I know we are going down that road already.

Gonna be a “bumpy ride” .

[ncfool]

So shoud individual stock holders liquidate their holdings in the final year of 15% capital gains. before
the messiah raises it 50% in Obummer Year of the Messiah 2011 or better known as His Lordship BHO Year OOO2

[TigerLikesRooster]

That would be ‘Juche 0002’ in NK parlance.:-)

[Flavius]

quick bail out another bank with indenture peasants paychecks

[TigerLikesRooster]

Or in Chinese, 毒變二年 (the second year of 'dope and change')

[HiTech RedNeck]

We need asset pins.

[M. Espinola]

He should inform the former NY Fed Chairman, otherwise known as ‘tax-cheating Timmy’, the best, crooked, soulless insider Goldman Sachs, utilizing stolen tax-payer funds, could buy... (except Paulson).