Suffer the high-minded intelligentsia at the Federal Reserve, veritable Knights Templar of the financial universe, who struggled mightily to brace the gates of Wall Street against the barbarian onslaught of American consumers, those Wal*Mart Philistines who were too feeble-minded and innumerate to grasp the intellectually lofty arcana that was the synthetic CDO-backed housing bubble they unwittingly helped expand. . . .

In 2004, Alan Greenspan argued the Fed should keep worries about a growing housing bubble secret because the chumps buying the houses were too stupid to engage in a debate about whether there was a bubble or not.

Before serving as Chairman of the Federal Reserve, Ben Bernanke was the head of George W. Bush’s Council of Economic Advisers, operating in the Christina Romer role. During that period he parroted the rose-colored outlook of the economy that characterized the Bush Administration prior to the Great Recession they created.

In the 1800′s ordinary Americans were crucified upon a cross of gold. Today, it’s their houses they’ve been nailed to, and it’s their houses they’ll go down with.