Hey Bernanke, the FED hit snooze instead of putting out that ‘neighbors fire’ and now my house is burned too!

From Michelle Caruso-Cabrera:

Fed Chief Ben Bernanke used an analogy to justify President Obama’s housing plan even if it does promote “moral hazard” and reward people for poor behavior. He compared it with a neighbor whose house is on fire because he was smoking in bed.

Yes, smoking in bed is wrong, but you need to put out the fire, because if you don’t the whole neighborhood may go because the fire will spread.

I take issue with that analogy and so does a viewer, Kevin in Wilmington, Mass., who sent us this e-mail:

Problem: My neighbor was smoking in bed, his house did burn down, and half of my house was destroyed with it. The Fire Department hit the snooze button on the fire alarm several times, showed up late (house was fully engulfed and ready to collapse) and, had a squirt gun to fight the fire.

February 24, 2009. Tags: , , , , , , , , , , , , . Economy, Finance, Foreclosures, Housing, Obama Administration, Politics, Popular Culture, TARP, Uncategorized.

One Comment

  1. » Hey Bernanke, the FED hit snooze instead of putting out that ‘neighbors fire’ and now my house is burned too! replied:

    […] Looking for STOCK MARKET ? Here’s STOCK MARKET information for you! wrote an interesting post today onHere’s a quick excerptFrom Michelle Caruso-Cabrera: Fed Chief Ben Bernanke used an analogy to justify President Obama’s […]

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