Maybe it's time to completely bypass Wall Street and think of another plan. The last time they were rescued they responded by shoveling as much cash as possible into their bonuses and failed to lend. Why bother buying their securities and helping them if they're not going to give anything in return? The Federal Reserve has had plenty of time to review other options and making life easy for Wall Street should not be one of them. Wall Street wanted (and lobbied for) hyper-capitlism so let them live with the consequences. Bailing them out and saving their lifestyle (again) is a waste of time and money.
Federal Reserve Chairman Ben Bernanke said Friday that the Fed will consider making another large-scale purchase of securities if the slowing U.S. economy were to deteriorate significantly and signs of deflation were to flare.
The Fed chief offered his most extensive thoughts yet on how to pull the U.S. economy out of a deepening slump. His remarks came 90 minutes after the government said the economy slowed sharply in the second quarter to a 1.6 percent pace.
Fears are growing that the country could lapse back into a recession. Bernanke described the economic outlook as "inherently uncertain" and said the economy "remains vulnerable to unexpected developments."
