Certain seals-of-approval have vastly diminished in the last 36 months. Rumsfeld's Iraq suggestions: low approval. Fannie Mae policy papers: low approval. Dick Fuld's Feng Shui guide: low approval.
Others, however, have grown rather substantially in the public eye. Your mother's paranoia about debt: high approval. Your father's advice to become a doctor and ignore that banking thing: high approval. William Ackman's advice on anything: high approval.
So when Ackman gives the Fed Reserve a gold star, well, you just want to smile at Beard after weeks of cat-calling him. Don't you?
What I like is I think stocks are cheap and I think the Federal Reserve has taken some very important steps that will improve liquidity--the banking system--and that in turn will help the economy," Ackman said on CNBC. "I think the most significant thing the Fed has done is committed to putting $250 billion in the banking system. I think they're doing it the smart way.
