What will the true believer capitalists say about this?

Federal Reserve chairman Ben S. Bernanke urged Congress today to take steps to ease the mounting mortgage crisis as renewed turbulence in global stock and currency markets continues driving down the value of the dollar and raising doubts about U.S. economic performance. . . . Bernanke said Congress should take steps to ensure that home foreclosures are kept to a minimum as aggressive adjustable mortgages reset to higher interest rates in coming months. . . . He suggested that Congress, for example, give final approval to a pending proposal to change Federal Housing Administration programs that help make mortgage loans available to people with middle to low incomes. . . .

Traditionally, a Fed Chairman does not involve himself in specific tax or spending issues. Alan Greenspan obliterated that when he endorsed President Bush's tax cuts. But Bernanke promised he would reverse that:

[Bernanke] said he would be nonpartisan as Fed chairman, offering general economic analysis but no specific recommendations on taxes or spending.

Of course in Washington, promises are made to be broken.