Has the US Treasury gone mad?

US government actions over the weekend will be extremely negative for the world economy.

In the course of one tumultuous weekend, US treasury secretary Hank Paulson and Federal Reserve chairman Ben Bernanke have permitted one bank to go under and another bank to be quite unexpectedly sold.

For some observers, the news is almost enough to bring on a 'Jim Cramer moment' รป a meltdown broadcast on TV in August last year when the CNBC pundit Cramer wondered whether the US government had any concept of the trouble brewing in the US housing market....

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