In a glowing endorsement, President Obama praised Yellen’s keen understanding of the markets and her ability to call it as she see’s it. He said:
“Janet is renowned for her good judgment. She sounded the alarm early about the housing bubble, about excesses in the financial sector and about risk of a major recession.”
In testimony to a congressional committee in 2010, Yellen said the following:
“For my own part, I did not see and did not appreciate what the risks were with securitization, the credit ratings agencies, the shadow banking system... I didn't see any of that coming until it happened.”
Shes a stooge for Easy Money...without it we all know where this Economy would be. Next time the Markets go into a downturn all kinds of s--t is gonna hit the fan. Its gonna make the shysters on Wall Street that gamed the Housing Market look like choir boys.