Bernanke grabs reins on economy

Giddy up, horsey. Reign this.

Are you kidding me?? This is grabbing the reins on the economy?? More like grabbing the reins and pulling it down further.Extending further credit to wobbly financial institutions is only going to create more inflation and let these wobbly institutions off the hook for poor lending practices! They are going to rein in high risk mortgage lending practices?? A little late for that, isn't it?? The damage has already been done and The Fed allowed it to happen in the first place!! It is well past time to do away with The Federal Reserve, which is neither federal and has no reserves of anything, and return to Constitutional money. 95 years of Federal Reserve fiat money has brought this country to the brink of ruin and it is time for it to end!!

Years ago when variable rate mortgages were introduced the borrower had to qualify at the highest rate that the mortgage could adjust to, If that practice was used over the past few years we probably could have avoided most of the mess that we see now. Now I understand were the term Simon Lagree comes from.

Wait a second, if I read this right, lenders will have to *gasp* actually verify that people have enough income to afford their loan! What a concept!