Bernanke has shown that he lacks the will to regulate. Instead of providing stability to the banks, he’s encouraging the excesses.
He’s 180 degrees from what we need. If the market can’t tell worthless bonds from valuable bonds, we need more regulation and Bernanke is and has been AWOL.
actually reading strangelet’s point #2, He’s agreeing that Bernanke didn’t regulate in 2006 and 2007. Actually I’m laughing now at point #2, it’s just too ironic!
1 Loser who is stuck in credit card debt = 1 Loser that can’t enjoy the fruits of his labor.
Joe Sixpack has massive debts, Don’t you know that Joe’s loss is Banker John’s gain? But the truth is that John has already spent the interest from Joe’s loan. Therefore Joe is slaving for cash already spent out of existence.
Because Banker John went to the racetrack, and lost all of the yield on Joe’s notes, Joe’s payments will just disappear from the economy.
Don’t you know that it’s very fair for Banker John to lose all his money for his bad bets? But the truth is that Banker John lost money he never had. He ran up gambling debts for more money than he will ever take in.
Don’t you know that Senator Bob wants to save the system for all the po’ people in need? But the truth is that Senator Bob’s been getting phone calls from the Goldman Sachs, the people running the Wall St. games. Goldman Sachs wants Banker John to pay up. Indeed they want to collect.
This is why the games don’t last very long. Things that can’t go on forever, don’t.
I was going to say something obvious, but after typing it sounded like a tin foil hat rant.
Ben Bernanke has had membership on the Fed’s Board of Govenors since 2002. He’s been chairman of the Fed since February 2006.
Has everyone seen the Bernanke is wrong video on youtube?
This is Bernanke’s Jobless recovery. Whose idea of a recovery is this? What kind of moron thinks double digit unemployment is ok?
Bernanke’s only accomplishment is preventing the “too big to fail” banks from failing. Through hidden programs and programs he refuses to report on.
Bernanke is a useful tool for the financial elites, and he’s a perfect symbol of everything gone wrong as the United States loses its soul.
Ad hominem arguments are a logical fallacy.
quoting this blog: “…there are no new jobs.” Without jobs, Conrad says, our economy will not grow because consumers can not afford to spend.
Didn’t expect to read this kind of thing on Huffpost. Did anyone call him a conspiracy theorist or a class warfare agitator, or a pessimism pornographer?
Ann is talking about women who feel that they can’t go to superior officers or have a sympathetic ear to deal with very real harassment. I don’t think one in three was raped, but why the hell am I explaining this to someone who isn’t interested in looking for cases of rape?
This is the perfect opportunity to talk about the shadow banking system, the zombie banks and the toxic assets pawned off to investors by predatory brokers.
How do the central bankers avoid being called fools? How does Bernanke avoid the incompetent label?
I dont know.
I don’t really think lawsuits are the right tool to give homeless protection. I would rather see the Governor or the President lead a effort in legislation. Yeah I know how dreamy that sounds.
I agree 100% with the blog.
I will point out that in a society that worships credit ratings and high fashion, expediency is. Government tries putting homeless out of sight by any means.
The irony is that providing these elderly and disabled human beings is no great task. They have been getting along w/o health care. Most of their needs would be met by a basic bed and a basic meal.
I really don’t know but I suppose it could be done for a few dollars per day. But a soup kitchen and a bunkhouse has to exist somewhere, and you have shown that it’s effortless for the police to harass and force the homeless out.
Don’t agree with author, once you learn the proper and specific stretch for shin splints, they disappear.
Hi Les! Good blog but I actually missed the fictional angle the first time I skimmed it.
Basically, a rolling stone gathers no moss.
I think as long as we are at least headed in the right direction Americans will love to follow the president.
I think Obama has a case of yes men, who insulate him in a Washington bubble. They might try and be serious about the average American, but do you really think they’ll succeed?
I have 2 cents on a different topic…. Why has Obama alienated himself from the conservatives in a way that Bill Clinton never would have? Why his he reinforcing those who label him as an elite?
Telling Washington to stop fawning over the “Rich”; is like telling them to invite poor people into their home. It boggles the mind!
Companies in need do deserve relaxed rules and stimulus. The big lie is that these banking entities have a legitimate need. The truth is that they have completely sunk into insolvency.
Look at what’s happening now. Overstressed banks refuse to make loans. They won’t be out of the hole for decades, but in the meantime they’ll suck profits away from the good banks.
http://politics.videosift.com/video/John-Pilger-Obama-Is-A-Corporate-Marketing-Creation
Yah, Pilger is right on target. As long as Obama makes people smug and content. The harsh reality isn’t useful to those in a dreamlike Obama rapture. Obama > thinking. I guess you could point to Obama’s political platform before he was President, you could say he had only the best intentions, however I fail to draw that fine a line. I mean, he’s following George Bush’s plan to get us outta Iraq, and he’s getting deeper into Afghanistan. The dragnet wiretapping still stands, etc. WHERE’S THIS HOPE STUFF? IS IT HIDING IN A WHITE HOUSE CLOSET? Ultraconservative Israelis hate Obama, I must give him credit for that. I think. Here’s another clip that shows how Obama is opposed to anything the medical industrial complex doesn’t want. watch at 2:35 seconds, “the intentions of the white house are to please the insurance companies…moveing more and more away from pleaseing people to pleasing insurance companies.”
quoting this blog: “Now that consumer spending appears to have stabilized at an anemic minimum level sufficient for day-to-day survival”
It didn’t. It’s dropping .6% monthly.
What’s really sad is the authors’ whole analysis of the future recovery is based on stabilized consumer spending.
Also missing from this analysis is the effect of toxic assets. I think they destabilize the system.
You’re not helping. The point is not to show that Obama is an idiot, the point is to show the Corporate beasts for what they are.
These corporate dogs chew the cords of the economy, mock our grassroot movements, and refuse to step down from the position of privilege. They are DOGS, but the people can’t see that as long as they believe they earned those thousand dollar clothes and deserve the million dollar homes.
Americans hate cheats and hoodlums. Naturally. We have to put these dogs outside. Kick them out of government. And making the connection between corporate abuse and the arrogance of Wall St. is the first step.
Dear Mr. Leopold, if you get too angry, you may start missing the target here. The object is to get the other person angry and unsettled!
If the lobbies of BIG MONEY got to write their own legislation for Congress, is it a surprise that they get to write the talking points of the White House?
We are knee deep in the financial and economic crisis, but who are you going to listen to? The average joe six-pack, the uninsured loser without a single platinum card? The government regulator who never ran a BUSINESS? Therein lies the problem. The problem is that the Wall St. giants risking taxpayer money didn’t lose any legitimacy. They are still the so called experts.
The billions the banks make on the fees from the bailout is the smoking gun. Are those fees billed to the government just another bill? No, they reveal the pervasiveness of Wall St. Read this page about the AIG bailout fees: http://www.tarptales.org/node/1143
If Wall St. is a giant casino, that giant casino is also writing government policy, I bet.
I just called my grandmother and told her as I don’t understand why she still carries what used to be a readable and now is just a plaster of ads.
My grandmother told me, her husband, Lewis, carried the magazine for years, and then after he died, she continued the subscription.
I miss the old RD. But I wouldn’t wish the new RD on anyone.
