Dollar Bears


"How can $20 billion in Bear Stearns market value evaporate overnight? Though many are asking this question today, few are noticing the fact that, since 2002, trillions of dollars worth of business and U.S.-government debt value has evaporated. This happened because the Federal Reserve has neglected the dollar." McGill economist Reuven Brenner writes an op-ed piece in the Wall Street Journal on the US financial crisis.