Steve Forbes on Sub-prime mortgage mess and The Fed
Steve Forbes speaks at TRAFFIC in Miami, FL - shot from a phone so quality is not too great. Mr Forbes seems to think that the Fed waited a little too long to act but he sees the risk as being spread across many investors and portfolios therefore not a huge blow to any one player. He references an earlier analogy to tainted lettuce - when the news reports that just one farm is tainted with ecoli or other bacteria the entire country is then afraid to buy lettuce as they assume all lettuce is tainted.
