Weekly Wrap: Jobs, the Fed and robo-signing

A Wall Street sign in New York City's financial district.

Kai Ryssdal talks with John Carney from CNBC and Felix Salmon from Reuters about whether the Federal Reserve will step in after today's disappointing jobs numbers, what to expect from President Obama's speech next week and the news of a lawsuit coming to the banks over faulty mortgages.

On if the Fed will begin buying bonds again:

John Carney: I think we're definitely going to get quantitative easing. We're not sure exactly what form it will take, but it is going to probably involve them buying much longer-dated bonds than they have been; normally, the Fed comes in and it's been buying much more short-term debt. They're probably going to want to squeeze people out on the risk curve a little bit by buying longer-dated [bonds].

On what he'd like to hear from President Obama's upcoming speech on jobs:

Felix Salmon: I would love to see a massive big stimulus...Any kind of big government spending program offset by long-terms cuts in spending growth over the next five to 10 years. That would be fantastic. But there's no political ability to do that.

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I was a little shocked by Kai's suggestion that perhaps we shouldn't go after the villains in the financial sector. RU srs, Kai? We MUST go after the individuals whose moral indifference created the mess, and truly, there MUST eventually be some severed heads gruesomely displayed on pike-heads on the ramparts of Wall Street. If we can't trust them to be honest, which we obviously can't, we have to scare them into honesty with a message strong enough to cut through the cocaine-induced haze and give them nightmares if they ever contemplate something like this again.

This isn't a matter of being mad or wanting revenge. It's just practical necessity. We cannot afford another debacle. It's not at all certain yet that we'll actually survive the last one.

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