Fed takes action, but was it soon enough

“He's not telegraphing any rules,” said Joseph Mason, finance professor at Drexel University.  “Greenspan made very clear what the rule was: Markets get into trouble, we're going to bail you out. Bernanke's not being clear about that rule, and I think that goes back to Bernanke's experience and understanding of financial crises over his academic career and his in-depth study of financial crises as well.”