This should be a no-brainer for Economic Populist readers...
(Reuters) - It's a mystery that has puzzled even Federal Reserve Chairman Ben Bernanke: if the U.S. economy is growing rapidly, why isn't it creating jobs?
Perhaps we should send Bernanke the link to the site?
Watch this video of Bernanke denying any knowledge or seemingly oversight on Lehman Brothers using 105 repos when questioned by Representative Spencer Bachus.
It is counter productive to destabilize or destroy a nation through derivatives according to Federal Reserve Chair Ben Bernanke.
Counter productive. Hmmmm, if it was a military weapon I do believe it would be called something else but as long as it's financial....well, ain't thems just fightin' words.
Obviously, using these instruments in a way that intentionally destabilizes a company or a country is -- is counterproductive, and I’m sure the SEC will be looking into that. We’ll certainly be evaluating what we can learn from the activities of the holding companies.
The SEC? Like Madloff? Bernanke said this during testimony before the Senate Banking Committee.
Well, no surprise, the Senate just got in line and confirmed Ben Bernanke as Fed Chair, despite the fact we cannot find out who received $2 trillion dollars in loans, the complete miss of the housing bubble, the ignoring of derivatives as systemic risk and the general stonewalling on getting some real reforms and answers on the Financial meltdown.
With that, the game being played is Senators want to claim they voted against Bernanke....but not really. So, below are the vote tallies. If a Senator voted for cloture yet against the actual confirmation, that move is pure politics. In truth they completely endorsed Ben and his subversion of the Consumer Financial Protection Agency and lack of transparency.
The Huffington Post is reporting there is a potential smoking gun on Bernanke.
Bernanke overruled his staff advising him to not bail out AIG.
A Republican senator said Tuesday that documents showing Federal Reserve Board Chairman Ben Bernake covered up the fact that his staff recommended he not bailout AIG are being kept from the public. And a House Republican charged that a whistleblower had alerted Congress to specific documents provide "troubling details" of Bernanke's role in the AIG bailout.
Below is the CNBC interview with Sen. Bunning (R-KY):
