Bush's support for the Fed to cut interest rates International Finance chiefs crazy.

<P> U.S. subprime mortgage crisis sweeping the globe, Federal Reserve Chairman Ben Bernanke has repeatedly cut interest rates sharply to try to turn the tide. .However, a number of international financial heavyweights are directed at the Federal Reserve under the wrong prescription, not only help solve the problem, but that the financial crisis worse. .U.S. President George W. Bush is behind, that the Fed and the Treasury at the crucial moment prompt action to promote financial market stability is the necessary action, if necessary further action. .</ P> <P> It http://finance. Hearing, former Federal Reserve Chairman Alan Greenspan pointed out that a further reduction of interest rates under the strong medicine, not suitable for risk assessment of today's financial system, will only interfere with financial markets, the failure .end. .Because "any reform or adjustment of market structure, did not uphold the importance of the error against the cumulative economic security: market flexibility and open competition." </ P> <P> former U.S. Treasury Secretary Robert Rubin that the current U.S. and global .mortgage market crisis has seriously the urgent need for another substantial rescue operation because "we are experiencing an unprecedented danger." .</ P> <P> another bit before Treasury Secretary Lawrence Summers also said the outbreak of the mortgage market shows the many serious problems, "the U.S. economy has entered a recession in several, if not immediately strong policy action, the consequences could be disastrous. ."</ P> <P> money brokers Tullett Prebon chief executive Terry Smith claimed:" I am thirty four years in this business, has never seen such a serious problem. High interest rates are not the main reason causing the problem, .Therefore, interest rate cuts can not solve the problem. it is difficult to accurately and clearly see what the official use of what tools to deal with it. "</ P> <P> Bernstein analyst at investment bank Merrill Lynch estimates that the U.S. .Bear Stearns was the fifth-largest brokerage bloody big sale, it may be only the first burst of the bubble only. ."Nowadays, many assets are still overvalued, corporate revenue remains weak and credit market bubble in the end how much, how deep? I'm afraid the situation is very pessimistic. Last from 1989 to 1991 of the bubble cycle, a total of 25% of the financial institutions was the last .M & A, reluctantly attract buyers, or even bankruptcy. "</ P> <P> But the second time in two days Bush has expressed support for the Fed action, and said that the Government is willing to take action as necessary. .Tuesday afternoon he was a speech in Florida, the middle finger is currently difficult time the U.S. economy, although the problem exists, but the key is understanding the problem, and immediate early action, in his view, this is the U.S. government has done. .He also said that Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson will continue to closely monitor the market and the financial industry. .</ P> <P> Bush again reiterated that the U.S. economy, though short-term difficulties, but in the long run will be good; Americans should have confidence in the economy. .</ P>.