The Fed has no clothes

To quote an online post:

When the home builders were going broke, the government said:
“It’s their own fault, they build too many houses.”

When the mortgage brokers lost money, the government said:
“It’s their own fault, they made bad loans.”

When people lost their homes, the government said:
“It’s their own fault, they bought more house than they could afford.”

When investment firms and hedge funds can’t sell their bad investments, the Fed says:
“Here, here’s some money for all that worthless paper.”

Abolish the Fed, they have no clothes!