As many of you know, Jeremy Grantham of GMO is one of my favorite financial commentators. His quarterly letter is always on my “must-read” list. This quarter, apropos of this month’s question, he writes a scathing examination of the Fed’s handling of the economy and their role in the current crisis. You can find his article, Immoral Hazard, at GMO’s website (it may require you to register, but it’s free and I have never received any spam as a result of being registered. It’s definitely worth it):
Article Review:
May, 2008