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Maybe when you get a chance, you could address the level of "freedom", and we could get on the same page.
In this particular case, the problem would be solved by allowing interest rates to float naturally, just as prices do. Remove this ability from the Fed, and allow banks and financial institutions to judge their own risk. When they're risking their own money, they'll do a much better job than the government will.
This would, of course, also require pretty much dismantling Fannie Mac and the FHLBs...but that would be a good thing as well.
