Fed handing silver to loan rangers

By Al LewisDenver Post Staff Columnist
Article Last Updated: 08/20/2007 10:48:12 PM MDT

The subprime mortgage mess is "largely contained" - or at least that's what Treasury Secretary Henry Paulson Jr. said in March.

And then, Federal Reserve Chairman Ben Bernanke repeatedly told us our subprime woes would not spill into the broader U.S. economy.

Now, the Fed is sandbagging the levee. .....

So why is the Federal Reserve so busy managing our economy? Or is it simply bailing out a bunch of high rollers who made bad bets on subprime loans?

So what if Bear Stearns, Goldman Sachs and some of the biggest investors in the world are reeling from their own stupidity? Who cares if Countrywide and other major mortgage lenders go belly up because of their risky lending practices? And if you can't pay your mortgage or get a new one - well, geez, didn't you ever play Monopoly as a kid?

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