"It is not the responsibility of the Federal Reserve -- nor would it be appropriate -- to protect lenders and investors from the consequences of their financial decisions."
- Ben Bernanke, August 31, 2007
September 18, 2007
Ben Bernanke: Bald-faced liar, or scared out of his wits by the housing crash and mortgage meltdown underway?
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26 comments:
I'm with YOU, Ben...The first, August-edition Ben, not this latest downgraded version.
He got a Call. The kind of Call That You Can't Refuse.
He's just an ordinary professor. They know where his children live.
Many billions of powerful dollars depend on what he does, and if he makes the Wrong Decision There Are Consequences.
Liar
Desperation showed today
...And suprime is contained.
-Ben Bernanke, 2007
Technically the fed did not violate that statement. It is not their responsibility but it doesn't mean they can't lower rates to try to help.
Along the lines of "it isn't my responsibility to help that panhandler on the corner but I will still give him a buck anyway"
Neither. It's a moot point. There's nothing he or anyone else can do to save the r.e. market. It's over and one with. This was a feel-good move to appease the mindless MSM and the sheeple who believe them.
The dollar is getting killed right now
Your house may only drop 30% now but in dollar terms it'll be down 50%
$79.15 folks, and going much lower. They threw the golden goose overboard in order to save the assclowns of Wall Street!
He is as F***ING stupid as Greenspan. The elites have struck again folks.
"it isn't my responsibility to help that panhandler on the corner but I will still give him a buck anyway"
I never give a panhandler who has better shoes than me any money.
Helicopter Ben lives up to his name.
Why do we continue to hope this or any other Fed would behave any differently ?
Do we still believe there are persons of prudence and integrity serving on the Fed ? They are all handpicked aappointees.
The Fed serves the Banksters. Their task is to impoverish the financially prudent.
Privatize profits and socialize losses.
Dopes is right. I admit I am an Idiot to believe this time it may be different.
Thank you Ben.
Your mom should have drowned you at birth.
bald-headed liar, he has a beard.
The shady group that operates within governments has lots of bankers as members. No surprise that he would be working for their interests.
greenspan used to talk in riddles method, while it seems the new method is to lie ande just do the opposite...brilliant
Welcome to Japan 15 years ago. Get ready for a verrrrrrrrrrrrrrry long slide. You would think that these idiots would just get this mess over with, but no, they choose to make it last for years and years.
Problem is that this is not going to save the economy. WE are still screwed!!!
Isn't the Fed supposed to take away the punch bowl when the party gets too wild?
Instead they filled the bowl with Jack Daniel's Black Label.
Oh well, you can't fight the Fed but you can take your ball and go play overseas...
Welcome to Japan 15 years ago. Get ready for a verrrrrrrrrrrrrrry long slide.
__________________________________
Yep, this is what I also think will happen. Bernanke acted out of panic today, having flown to the U.K. earlier and seen what a REAL bank run looks like. Also, he's scared speechless that those $500 Trillion worth of derivatives floating around out there will come due all at once....
I can't decide whether Bernanke is a little school girl, or a lap dog. A shitzu, or a silly giggle face? Hmm... I've got it, he is a shitzu named school girl wearing a party dress. Yeah, that's the ticket...
Democratic Congress also passed a taxpayer funded bailout for RE speculators
Those of you predicting a long slow slide are DEAD WRONG.
What Butthead Bernanke did this afternoon will go down in history as this one of the cumbest decisions in history.
The dollar, which already has fallen 9 percent in the last year - will now accelerate it's fall - as Bernanke has PROVEN once and for all that he will do NOTHING to save the dollar if it gives him a small temporary advantage to his Wall Street butt buddies at the cost of shafting generations to come.
Oil - which till now has had a ceiling of $80 - will very shortly have a FLOOR of $90. And when good old GW shows how serious he is about 'solving' the Iran problem later this winter or early next year, the only place you will ever see oil below $100 a barrel will be in your dreams.
And speaking of Iran, now when oil doubles, it will go from $100 to and almost unbelieveable $200 a barrel instead of a much more survivable $50 to $100, which is what it would have done had we experienced the crash Butthead just pre-empted.
And make no mistake, a crash is baked in, thanks to housing. 50+ percent of the most important industry in the USA doens't disappear overnight without consequences. Only now the crash comes at the same time the dollar drops 50%, oil rises 100% and we start yet another idiotic war in the ME.
You won't recognize this country in 12 months.
You won't recognize your LIFE in 12 months.
All thanks to yet another SHITHEAD Boomer making yet another decision to prop up his own lifestyle, temporarily, and for miniscule advantage that the rest of us will pay for - for the rest of our lives.
Is it any wonder Boomers will soon be the most hated generation in history ?
kochevnik
Haven't you guys learned yet? Listen to the Fed's words and expect the exact opposite.
He's not scared of anything. He's managing the Fed to its destruction while milking the masses as much as possible.
That's the game.
All aboard the Bank of North America! Let's start anew!
"It is not the responsibility of the Federal Reserve -- nor would it be appropriate -- to protect lenders and investors from the consequences of their financial decisions."
- Ben Bernanke, August 31, 2007
P.S. I'm more full of shit than a Christmas Turkey, but don't quote me until I retire.
The US government does not own the Federal Reserve. It is owned by the member banks. That's why the Federal Reserve's primary responsibility is to protect it's member banks. Not all banks are members of the Federal Reserve. Only banks that have "national" in their name or "NA" are member banks. The President appoints 6 six people to the Federal Reserve Board so the people of USA have a say in what the Federal Reserve does.
if we start anew I wanna fish in newfoundland for the smoked kippers that have disappeared
Bring back Paul Volcker! Why can't the fed put someone with balls in the chair anymore?
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