Share

From this page you can share Blindly into the Bubble to a social bookmarking site or email a link to the page.
Social WebE-mail
Enter multiple addresses on separate lines or separate them with commas.
Blindly into the Bubble
(Your Name) has forwarded an article to you from CommonDreams.org: Blindly into the Bubble

(Your Name) forwarded this article to you from CommonDreams.org.

Sign up here if you would like to receive daily news from CommonDreams.org.

Blindly into the Bubble

When announcing Japan's surrender in 1945, Emperor Hirohito famously explained his decision as follows: "The war situation has developed not necessarily to Japan's advantage."

There was a definite Hirohito feel to the explanation Ben Bernanke, the Federal Reserve chairman, gave this week for the Fed's locking-the-barn-door-after-the-horse-is-gone decision to modestly strengthen regulation of the mortgage industry: "Market discipline has in some cases broken down, and the incentives to follow prudent lending procedures have, at times, eroded."