When America needed a sound, rational, moral leader at the Federal Reserve who would tell Congress and the American people the truth, and what they needed to hear, not what they wanted to hear (in an election year), we got Ben Bernanke instead.
When we needed a steady hand on the wheel, who could guide us away from the financial abyss, we got Ben Bernanke instead.
When we needed an intelligent and prescient economist who understood the seriousness of the credit bubble, housing bubble and mortgage mess BEFORE it all came tumbling down, we got Ben Bernanke instead.
And when we needed a Fed Governor who would protect the US dollar and keep inflation in check as the Fed was required to do, we got Ben Bernanke instead.
This is shameful. This is wrong. And Ben Bernanke needs to go. He's the wrong man at the wrong time and the results will be disastrous.
January 18, 2008
What are the odds Ben Bernanke just says "f*ck it" and quits? Because he needs to, or he should be fired.
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21 comments:
Ben ain't going to quit. He's set for life as the international bankers little sock monkey bitch. He'll let them shove their hand up his ass and make his mouth move to lie, falsify and deceive America. Screw the country for a fast buck.
I'm sure those banksters make it very worth his while.
So can we discuss the Federal Reserve System? What is it there for? How does it work? How accurate is the description in the video below?
The Creature from Jekyll Island
http://video.google.com/videoplay?docid=6507136891691870450
Let's keep the discussion civilized OK and try to share some knowledge yeah?
Send Big Ben to Guantanamo for Special Treatment...
There are never enough seats on the last train out of the station...
Rumble.
Skippy McDumbass hasn't quit, why should Ben?
Stupid is as stupid does.
Did you expect Ben Bernanke to raise rates and cause a depression? The situation was caused by Alan Greengas and lack of regulation by The Fed, FDIC, SEC, Congress, DOJ, FBI and state governments. When your choice is between 15% inflation or 15% unemployment, you choose inflation.
i just can't wait till we are down to 1% and the shit is still hitting the fan.
then what?
Who is going to replace him? The guy inherited two pounds of crap from Greenspan and is doing his best to turn it into lemonade. It is an impossible proposition. There will be pain no matter what he does.
I once worked for a company that was going through financial problems.
They hired a new president to “straighten things out”.
One month later, he sold the company, saying “I feel I have accomplished my goals”
Dude, 90% of the world's currencies are indexed to the dollar. Saudi, china and many more. The dollar getting fried is bad news for us, but much worse for them, and if they cut their tie to the $$, I am sure there will be a quick reversal of the printing presses, OK it will be slowed down. This is almost pain free ... almost, not 100% pain free. Oil is going up cos we buy it from all sources, not just saudi's, but there again, oil costing $5 a gal will screw the outlying McMansions much worse.
Here is the bottom line though, it is horrible for retirees, but a good way to patch the Medicare and soc security holes, and it will effectively have no effect on housing except to screw it even more, but atleast it will prop up rentals marginally, and its horrible for china and saudi, and anyone else tied to the USD. I just would like to see how useless it is and laugh. Its going to hurt the indexed ones a lot. But else it will do very very little harm, and even less good.
Cool.
Cow_tipping.
Ben's not going anywhere until GW tells him, "Good job, Bennie."
Market is up today. Overseas buyers dumping dollars as fast they can I'm guessing.
Can you imagine being in charge of a sovereign wealth fund right now? Most of those countries kill officials who screw up and anyone holding dollars is definitely a screw up.
B.B. is the bankers banker. He is apuppet. He cannot leave or deviate from the current course.
Banks don't write down BILLIONS of dollars and just eat it. They will get reloaded many times over then dump all of the REO's on the market. Whtever they get will be profit anyway.
Then interest rates will climb.
the fed is doing precisely what its founder's intended: bankrupt us, while making them rich.
given that that was its function, i would say it is performng admirably. what makes u think that they will allow any changes to what is working perfectly for them ?
look at what has happened to every single person who has seriously tried to undo the fed.
consider it a message, rather like awakening to find a horse's head in your bed.
Ben ain't going to quit. He's set for life as the international bankers little sock monkey bitch. He'll let them shove their hand up his ass and make his mouth move to lie, falsify and deceive America. Screw the country for a fast buck.
I'm sure those banksters make it very worth his while.
January 18, 2008 7:41 AM<<
God I love this guy....ha ha..
"i just can't wait till we are down to 1% and the shit is still hitting the fan.
then what?"
You mean the Fed can't make the rate be negative?
Fed can ask FEMA for help. They have a lot of expreience in incompetence.
Ben is not the problem.
I think he knows the crap he's in.
He knows he can't say it publicly either.
It's Greenspan whose reputation deserves to be lynched. And actually the whole of the modern GOP.
yes, Democrats are bad too, but no they are NOT all the same; today the GOP is much worse. They have an ideology of poisoning and sabotaging effective government, because they hate government, and that because it's the only mechanism that normal people can use to thwart the ambitions of the hyperrich to screw us even more.
I wonder if we can get that Medal of Freedom back that Bush gave Greenspan?
That is if he hasn't melted down and sold it for $900.00 an ounce.
Greenspan must be laughing his ass off !!!!!!
snicker !
Fed can ask FEMA for help. They have a lot of expreience in incompetence.
... and from what I read, alot of room. Do you think they will let you have sex in the FEMA camps after the roundup?
An uplifting artice about murder-suicide. You though the LAST Depression was something?
Well, the wheels haven’t even come off yet and they are jumping.
Hopefully Senior Bush officials will take the que and begin jumping too.
Maybe Big Ben will be First?
Mortgage company exec jumps to death
The Associated Press
Article Launched: 01/18/2008 05:22:27 PM PST
MARLTON, N.J.—An executive of a collapsed subprime mortgage lender jumped to his death from a bridge Friday, shortly after his wife’s body was found inside their New Jersey home, authorities said.
The deaths of Walter Buczynski, 59, and his wife, Marci, 37—the parents of two boys—were being investigated as a murder-suicide, according to the Burlington County Prosecutor’s Office.
Prosecutor Robert Bernardi said Evesham Township police went to the couple’s home in the Marlton section of the township around noon after a male caller asked them to check on Marci Buczynski. Her body was found in a bedroom.
Authorities would not provide further details on her death, saying only that she was pronounced dead at the scene and that the county medical examiner’s office would perform an autopsy Saturday.
About 20 minutes after her body was found, officers from the Delaware River and Bay Authority Police Department received reports that a man—later identified as Walter Buczynski—had parked his car on Delaware Memorial Bridge and jumped from the span.
Crews were searching for his body Friday night.
Bernardi said a motive for the apparent murder-suicide was not immediately clear. The couple’s children were being cared for by family members, Bernardi said.
Walter Buczynski was a vice president of Columbia, Md.-based Fieldstone Mortgage Co., a high-flying subprime mortgage lender that made $5.5 billion in mortgage loans and employed about 1,000 people as late as 2006.
However, it has since filed for bankruptcy and now has fewer than 20 employees. The company had recently filed court papers seeking approval to pay about $1.1 million in bonuses that would be divided among Buczynski and other staffers so the company could wind down its lending operations and go out of business.
What a GREAT COUNTRY this AMERICA! FREE MONEY FOR ALL!
Great Cartoon! Here is a link to the author's (ME) website where you will find it and a lot of other great toons:
Stock Mania!
Bernanke to Congress
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