mizchels
New Contributor
I just watched this blurb from YouTube with Don Herrald:
http://youtube.com/watch?v=4sZCNlPwG8o&feature=related
In it he emphasizes that the Fed lowered rates only to benefit the large banks, like JP Morgan, so they could do things like buy Bear Sterns. He says the Fed has disregard for the common investor and it's up to us to make ourselves heard with voting, etc. I'd like to think that the Fed isn't completely blind to the interests of investors, as they are obviously also a large part of the economy...and the economy is what the Fed is concerned about, right? Don Herrald's points make me stop to consider, though. He jabs at Jim Cramer for being so wrong on investing in Bear Sterns...now, you can't take Cramer as gospel (unless you have no business really investing anyway) but he, too, can make good points/picks sometimes. Just wondering what others' thoughts are about this guy's opinion.
http://youtube.com/watch?v=4sZCNlPwG8o&feature=related
In it he emphasizes that the Fed lowered rates only to benefit the large banks, like JP Morgan, so they could do things like buy Bear Sterns. He says the Fed has disregard for the common investor and it's up to us to make ourselves heard with voting, etc. I'd like to think that the Fed isn't completely blind to the interests of investors, as they are obviously also a large part of the economy...and the economy is what the Fed is concerned about, right? Don Herrald's points make me stop to consider, though. He jabs at Jim Cramer for being so wrong on investing in Bear Sterns...now, you can't take Cramer as gospel (unless you have no business really investing anyway) but he, too, can make good points/picks sometimes. Just wondering what others' thoughts are about this guy's opinion.
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