The elephant in the living room -- How government created the housing bubble -- The great Wall Street bailout -- How …

A bursting asset bubble inevitably requires central bank action, usually when it is already too late and with adverse … of perverse incentives and moral hazard that often gives rise to yet another round of bubbles. The US central bank …'s current premise is that policymakers cannot and should not target asset bubbles. However, the housing story has rendered …