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| Economy |
| The Bernank Says He is Blameless for Global Financial Disruption |
| 2011-02-19 |
| Federal Reserve policy isn't to blame for the steep inflation and other woes affecting developing nations, the central bank's chairman, Ben S. Bernanke, said Friday as he tried to rebut a rising chorus of criticism of the Fed's easy-money policies from abroad. On 27 March 2007, a few months before all hell broke loose, The Bernank testified before Congress that he thought the current problems in subprime home loans were 'contained'. He'll never live that down. |
| Posted by:Anguper Hupomosing9418 |
| #11 Bernanke and Greenspan are two sides of the same coin. |
| Posted by: Nimble Spemble 2011-02-19 20:02 |
| #10 The Republicans repeal Glass Steagal (1987) and pretty much the first thing Greenspan did in 1987 was to guarantee unlimited liquidity to banks. Effectively writing them a blank bailout check, which underwrote all the wild speculation by banks that led to the GFC. |
| Posted by: phil_b 2011-02-19 19:57 |
| #9 Methinks Bernanke couldn't carry Greenspan's loafers. I dunno. Greenspan came up with the idea of the ARM and released it into the wild. |
| Posted by: gorb 2011-02-19 14:11 |
| #8 Kissenger Foundation flunkies, the lot. Send Ben and Tax Cheat Tim off to China where they belong. They've sold us out, let them declare their rightful Chinese Communist citizenship along with Henry the greedy bastids! |
| Posted by: Besoeker 2011-02-19 13:16 |
| #7 Not to suggest that I think Weimar Ben is right, about anything. But he is doing his job, which is to support the federal government. Either Congress has to cut expenditures, or he has to print the money to close the gap. If he refused, he'd be handed his hat, and someone willing would take his place. I notice that his middle initial S (Shalom) is turning up more and more frequently in the MSM, which makes me wonder why on earth that matters. Easier to blame a Jooo than Congress and the whole social welfare Ponzi scheme, I guess? |
| Posted by: RandomJD 2011-02-19 13:11 |
| #6 Karl, Methinks Bernanke couldn't carry Greenspan's loafers. James, He could not carry Volker's jock strap must less be qualified to sit in the same chair. |
| Posted by: James Carville/Karl Rove 2011-02-19 11:09 |
| #5 Well of course he says that. There is considerable blame to go around--mostly among donks to my way of thinking. |
| Posted by: JohnQC 2011-02-19 11:05 |
| #4 Ben doesn't care about the USA or the Fed... only about JPM and GS. |
| Posted by: Water Modem 2011-02-19 01:32 |
| #3 Fire Bernanke for not doing his job. He's about as useful as the Minerals Management Agency. |
| Posted by: gorb 2011-02-19 01:28 |
| #2 Also from WAFF > {MEMRI.org] IRANIAN GEENRAL WARNS US OF CONSEQUENCES OF MEDDLING [Iran, ME Affairs], PREDICTS CONFRONTATION SOON AGZ US, warning that the ERA OF ABSOLUTE POWER FOR THE US + ITS MILITARY, SECURITY SERVICES IS OVER. Once again, OLLIE STONE'S "PLATOON", "WHITE RABBIT" anthem by Jefferson Airplane, + NOSTRADAMUS > "NONE SHALL SEE THE POWERS OF ASIA DESTROYED UNTIL THE SEVEN/SEVENTH HOLDS THE LINE" [ as per "Decisve Battle"]". |
| Posted by: JosephMendiola 2011-02-19 00:56 |
| #1 ION WAFF > INTELLIGENCE COMMUNITY FEARS US MANUFACTURING DECLINE. US DNI wants an NIE as per LT US Security implications. |
| Posted by: JosephMendiola 2011-02-19 00:50 |