Fed’s Kohn Says Crisis `More Severe’ Than Episodes Since 1990s

Categories: Alarm

http://www.bloomberg.com/apps/news?pid=20601087&sid=ayYY07SHkfzg&refer=home

“The economic disruption here and abroad are likely to be considerably more severe than in past episodes,” Kohn said today in prepared remarks for the Cato Institute’s Annual Monetary Conference in Washington. “Mopping up after this asset-price bubble has turned out to be much harder because of its greater magnitude.”

Here you have a Federal Reserve Vice Chairman making quotes like this and still the Asshats don’t get it.

By Return of The What | 11/19/2008 9:41 AM