I heard about this, but never saw it. My guess is Kramer lost his A** lately and is just upset. Unfortunately, I agree with Bernancke decisions to hold the fed rate and keep things were they are. There is a lot of inflationary pressures in the market and lowering fed rate will not help this. It would hurt more in the long run. It is easy to say just lower the interest rates and everything will be better. This will just cause more problems in the future. Since I am in the mortgage industry and have followed things like this, I just think some people had it coming to them. Financing 100% on people that never paid a bill in their life. Interest only and Neg Amortization loans were just asking for trouble in many cases. There needs to be more legislation on mortgage brokers and with special types of financing offered. The customers need to be educated and informed and in many cases they were not. This problem is only just begining and will continue for the next 1-2 years most likely, but lowering prime is not going to help
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