Charles Calomiris an economist at Columbia University said the following about t

Charles Calomiris an economist at Columbia University said the following about the initiatives of the Treasury and the Fed during the financial crisis of 2007-2009: It has been a really head-spinning range of unprecedented and bold actions. That is exactly as it should be. But Im not saying that its without some cost and without some risk.1) What was unprecedented about the Treasury and the Feds actions? What risks did these actions involve?2) Do you think that the Feds actions should be head-spinning (i.e. suprising) or do you think they should be predictable? Explain.