Housing Crisis, Bernanke

A public discussion needs to develop about the cost and benefits for society that result from government creating a set of perverse incentives for consumers. The economic muck that results requires government to intervene in order to rectify the situation. People need a place to live and I think government can provide a bare minimum, but people do not have a right to a standard of living beyond their means. When Bernanke spoke about the crisis he mentioned the Feds role in the overall economy but also said alleviating individual consumers poor decisions is not his role. Wall Street analysts immediately focused on his concern about the economy and confidently assured listeners he would cut interest rates. Was this overwhelming confidence due to secret knowledge, self-interested delusion, or an attempt to create momentum that will influence Bernanke's decision in lieu of public and corporate expectations.