Author Topic: The Bernanke Brief  (Read 189735 times)

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Offline Noel Degrassi

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Re: Ben Bernanke Interview w/ 60 Minutes
« Reply #200 on: March 15, 2009, 06:13:19 pm »
Hey, can we get this segment put on "Lie To Me".....jeesh, Ben's sweatin' because this of this corporate puffball?? Yeah, let Dr. Paul interview him for ya. Now THAT'S good television!




He just said "we NEED to print money".....

Oh crap, they just made up a whole fiction on how the Fed pays for itself, but actually PUTS MONEY BACK INTO THE TREASURY..........


LYING f**kIN' LIARRRRRRRRRRSSSSSSSSSSS!!!!!!!!!

Offline Noel Degrassi

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Re: Ben Bernanke Interview w/ 60 Minutes
« Reply #201 on: March 15, 2009, 06:33:53 pm »
New NLP buzzword: "Green Chutes". (as in Economy-Saving Money Parachutes for banks and "businesses").

Offline Travinyle1

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Re: Ben Bernanke Interview w/ 60 Minutes
« Reply #202 on: March 15, 2009, 06:37:30 pm »
"were becoming much more transparent" Bernanke REALLY?

Does anyone else find it interesting this aired TONIGHT on 60 minutes.

An interview with the chairman of the FED on the same weekend Obama Deception airs.

He also said the chairman of the FED "never does interviews"

Interesting stuff i smell damage control

Offline Dig

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Re: Ben Bernanke Interview w/ 60 Minutes
« Reply #203 on: March 15, 2009, 06:40:13 pm »
"were becoming much more transparent" Bernanke REALLY?

Does anyone else find it interesting this aired TONIGHT on 60 minutes.

An interview with the chairman of the FED on the same weekend Obama Deception airs.

He also said the chairman of the FED "never does interviews"

Interesting stuff i smell damage control

yup, looks like they are not going to be able to ignore TOD forever.
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

Offline Matt Hatter

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Bernanke: recession could end in '09 - (Go Back To Sleep!)
« Reply #204 on: March 15, 2009, 10:27:44 pm »
Bernake is the biggest TOOL alive!

http://news.yahoo.com/s/ap/20090316/ap_on_bi_ge/bernanke60_minutes;_ylt=AucYoQDD0akQ.dwV4qjC.1us0NUE;_ylu=X3oDMTJjYTNoa3U5BGFzc2V0A2FwLzIwMDkwMzE2L2Jlcm5hbmtlNjBfbWludXRlcwRwb3MDMwRzZWMDeW5fdG9wX3N0b3J5BHNsawNmdWxsbmJzcHN0b3I-



WASHINGTON – America's recession "probably" will end this year if the government succeeds in bolstering the banking system, Federal Reserve Chairman Ben Bernanke said Sunday in a rare television interview.

In carefully hedged remarks in a taped interview with CBS' "60 Minutes," Bernanke seemed to express a bit more optimism that this could be done.

Still, Bernanke stressed — as he did to Congress last month — that the prospects for the recession ending this year and a recovery taking root next year hinge on a difficult task: getting banks to lend more freely again and getting the financial markets to work more normally.

"We've seen some progress in the financial markets, absolutely," Bernanke said. "But until we get that stabilized and working normally, we're not going to see recovery.

"But we do have a plan. We're working on it. And, I do think that we will get it stabilized, and we'll see the recession coming to an end probably this year."

Even if the recession, which began in December 2007, ends this year, the unemployment rate will keep climbing past the current quarter-century high of 8.1 percent, Bernanke said.

A growing number of economists think the jobless rate will hit 10 percent by the end of this year.

Asked about the biggest potential dangers now, Bernanke suggested a lack of "political will" to solve the financial crisis.

He said, though, that the United States has averted the risk of plunging into a depression.

"I think we've gotten past that," he said.

It's rare for a sitting Fed chief to grant an interview, whether for broadcast or print. Bernanke said he chose to do so because it's an "extraordinary time" for the country, and it gave him a chance to speak directly to the American public. (A transcript of the interview was provided in advance of the broadcast.)

Bernanke spoke at a time of rising public anger over financial bailouts using taxpayer money. Battling the worst financial crisis since the 1930s, the government has put hundreds of billions of those dollars at risk to prop up troubled institutions and stabilize the banking system.

Institutions that have been thrown lifelines include American International Group Inc., Citigroup Inc., Bank of America Corp., mortgage giants Fannie Mae and Freddie Mac and others.

Democrats and Republicans on Capitol Hill have questioned the effectiveness of the rescue efforts and have demanded more information about how taxpayers' money is being used.

Bernanke's TV interview seemed to be part of a government public relations offensive. Treasury Secretary Timothy Geithner appeared on PBS' "The Charlie Rose Show" last week, discussing the financial crisis and the Obama's administration's relief efforts.

The Fed chief on Sunday's broadcast repeated his ire over the AIG bailout, saying that over the past 18 months, that was the case that angered him the most. He says he "slammed the phone more than a few times on discussing AIG."

The government's four efforts to save the troubled insurance giant total more than $170 billion. A collapse of AIG would have wreaked havoc on the global economy, the Fed has said.

AIG ignited fresh outrage over the weekend with news that it's making $165 million in bonus payments to executives on Sunday, most of them in the unit that sold risky financial contracts that caused huge losses for AIG.

When the financial crisis intensified last fall, Bernanke and President George W. Bush's Treasury Secretary Henry Paulson rushed to Capitol Hill for help. That led to the swift enactment of a $700 billion bailout package in October. Since then, banks have received billions in capital injections in return for government ownership stakes in them.

Looking back, Bernanke said the world came close to a financial meltdown. Asked how close, Bernanke responded: "It was very close."

Bernanke admitted that the Fed could have done a better job of overseeing banks. Critics say lax regulatory oversight contributed to the crisis.

Bernanke said he believes all the big banks the Fed regulates are solvent. Big banks won't fail under his watch, Bernanke said — though, if necessary, the government should try to "wind it down in a safe way."

Offline Revolt426

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Re: Bernanke: recession could end in '09 - (Go Back To Sleep!)
« Reply #205 on: March 15, 2009, 10:30:20 pm »
He's telling the truth, the Recession could end in 09 and the MELTDOWN will continue until all central banks implode and the system is forced to be overhauled, that is when the real arguements will begin.

Bernanke would do himself good to resign before he is blamed for everything. Greenspan doesn't even come to the United States anymore, he is busy orchestrating the bailouts in the UK.
"Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate … It will purge the rottenness out of the system..." - Andrew Mellon, Secretary of Treasury, 1929.

Offline valkator

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Re: Bernanke: recession could end in '09 - (Go Back To Sleep!)
« Reply #206 on: March 15, 2009, 10:47:01 pm »
The very simple reality is that these scum do not really control anything and, as everything picks up speed, are coming face to face with their own demise. The only way that they have been able to keep their herd in line is by changing the configuration of the feeding chute to keep the cattle passive and calm - grazing peacefully and blind. That there are many who are now deciding NOT to be cattle is causing these vile 'shepherds' to try to calm the herd is not suprising. Yet, these shepherds are now starting to realize that they, too, are nothing more than the cattle they have been trying to rule and feed upon - and are set for slaughter just the same. They aren't in control, never were, and they are all starting to face this fact. It will be entertaining and educational to watch as beasts like Bernanke cut off their own ear as they go down with the ship...
"True revolution is not to be found in the direction of change of any kind; it occurs when a population tears down its civilian status and unbinds the powers inherent to the very definition of 'population'."
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Offline Matt Hatter

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Re: Bernanke: recession could end in '09 - (Go Back To Sleep!)
« Reply #207 on: March 16, 2009, 09:49:57 am »
This is perfect timing for the next stock market sucker rally being orcherstrated right now by the Hedge Funds. If anyone has anything left in the stock market get out NOW! I am telling everyone at my work Ford, to sell this stock as it is up about 20% from a week ago. They all bought in thinking it was going to double and they were going to make a quick buck..are all going to take a loss but it will be much worse if they keep waiting.

Offline Revolt426

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Financial Times of London applauds Bernanke for doing a great job
« Reply #208 on: March 20, 2009, 07:55:42 pm »
http://www.ft.com/cms/s/0/e4187cca-14ef-11de-8cd1-0000779fd2ac.html

Bold Bernanke leads by example
Published: March 20 2009 02:00 | Last updated: March 20 2009 02:00

Ben Bernanke is playing his part. The chairman of the Federal Reserve is making sure that monetary policy is doing all it can to stem the crisis. This week, he announced that the US would begin old-fashioned Japanese-style quantitative easing. The Fed, however, will need help from the rest of the US government. The current financial and stimulus packages are not yet up to the task.

As the crisis has deepened, the Fed aggressively loosened conventional monetary policy, expanded the monetary base, provided large-scale liquidity support and backed lending directly with "credit easing". This week, as well as increasing the size of some of these ongoing programmes, Mr Bernanke adopted the reflationary quantitative easing measures deployed in Japan between 2001 and 2006.

In addition to pledging to keep interest rates low for a longer time, the central bank will buy up $300bn of Treasuries. Like most of the Fed's measures, this move aims to reduce the cost of lending and to prevent deflation with large injections of newly created money into the monetary base. The policy may have been inspired by the example of the UK, which successfully cut gilt yields by this method.

This is prudent boldness. US households and businesses already creak under the weight of their debts. Falling prices would make their already crippling burdens even heavier. There are serious risks. Some are avoidable; the Fed's unsignalled move stunned investors. Some are inevitable; managing inflation when growth returns will require luck and judgment. But the Fed still inspires confidence. Although the dollar fell after the announcement, it is still strong.

There is a striking contrast between the Fed's activism and the timidity in government and Congress. First, the fiscal stimulus package is too slow and too paltry - particularly on measures such as state budgetary aid. A second stimulus, preferably one with fasteracting measures, would be helpful.

Second, as the International Monetary Fund has argued, a credible financial rescue plan has still not emerged from the Treasury, let alone been put into action. It will not be cheap. A successful scheme which is fair to taxpayers and does not involve off-balance sheet wheezes or hidden contingent liabilities will require funds up-front.

During this crisis, politics has come before policy in Congress. But the US needs another stimulus and the Treasury needs the funds for a serious bank rescue. Lawmakers should not let outrage over bonuses stand in the way of essential action.
"Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate … It will purge the rottenness out of the system..." - Andrew Mellon, Secretary of Treasury, 1929.

Offline endof

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Re: Financial Times of London applauds Bernanke for doing a great job
« Reply #209 on: March 20, 2009, 07:59:11 pm »
" The Fed, however, will need help from the rest of the US government."
(oh so, its part of the US government now is it? Financial times?)

that lie just ...stuck out more to me than most.

not many people trust the mainstream media anymore.

certainly not here anyway.

Offline Revolt426

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Re: Financial Times of London applauds Bernanke for doing a great job
« Reply #210 on: March 20, 2009, 07:59:38 pm »
LaRouche: Latest Fed Money Pumping a "Treasonous Operation To Sink U.S."

March 20, 2009 (LPAC) -- In response to a report on the latest measures implemented by Federal Reserve Chairman "Helicopter Ben" Bernanke to "restore financial stability," economist Lyndon LaRouche had the following comments: "These actions put us on the edge of a hyperinflationary takeoff, like that of Weimar Germany in 1923. The pumping of money by Bernanke is part of a British operation to sink the United States. Anyone who continues this thing is a traitor to our nation, whether they are witting, or not."

LaRouche was responding to a report, from a well-placed source, that there was growing concern among Federal Reserve officials over the danger that the present course of money pumping would replace the present deflationary course of the economy, with a hyperinflationary one. The latest concern comes from actions taken by the Fed yesterday, to add $1.15 trillion to the ongoing bailout. This includes a direct purchase, by the Fed, of $300 billion in long-term treasuries; the printing of funds to purchase up to $750 billion of Mortgage-Backed Securities (which will be purchased at rates far above their actual, present value); and an additional $100 billion, for special contingencies not presently determined!

This means that the total funds allocated by the Fed and the Treasury since the acceleration of the crisis into high gear in mid-September 2008 is $11.4 trillion. While "only" $2.8 trillion has been spent so far, this first tranche spent is believed to have contributed to the .4% official increase in inflation reported for February. In a speech given last week, Dallas Federal Reserve President Richard Fisher -- who repeatedly voted against the consistent lowering of the Federal Funds rate in FOMC meetings -- said that the Fed is aware that inflation "could be driven higher" by the increase in its balance sheet, but added that we "will do everything we can to prevent it," and that the Fed will "unwind that stimulus [from the increased allocation of funds] at the right time." When the source was asked how the Fed will determine "the right time," and what measures the Fed would take, he said he doesn't know how they will know exactly when, but that their only tool would be a sharp ratchet upwards of interest rates.

On the sharp, precise comments issued this week by former New York Gov. Elliot Spitzer on the AIG mega-scandal, LaRouche said, "Spitzer is exposing the naked truth about the swindlers."
"Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate … It will purge the rottenness out of the system..." - Andrew Mellon, Secretary of Treasury, 1929.

Offline Revolt426

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Re: Financial Times of London applauds Bernanke for doing a great job
« Reply #211 on: March 20, 2009, 08:00:01 pm »
" The Fed, however, will need help from the rest of the US government."

that lie just ...stuck out more to me than most.

not many people trust the mainstream media anymore.

certainly not here anyway.
What they really mean is , the FED will need assistance from the Government to destroy the country.
"Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate … It will purge the rottenness out of the system..." - Andrew Mellon, Secretary of Treasury, 1929.

Offline wembley87

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Re: Financial Times of London applauds Bernanke for doing a great job
« Reply #212 on: March 20, 2009, 08:03:59 pm »
It is so f***ing sad , all the main stream media praising these , what i would class as rapists . I remember a caller earlier in the week on the Jones show saying he came across Bernanke , and he had never had the feeling of being so close to evil in his life .

Mber

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Re: Financial Times of London applauds Bernanke for doing a great job
« Reply #213 on: March 20, 2009, 08:28:15 pm »
old-fashioned Japanese-style quantitative easing.

Don't you love how they talk to the children?

Offline endof

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Re: Financial Times of London applauds Bernanke for doing a great job
« Reply #214 on: March 20, 2009, 08:31:24 pm »
Don't you love how they talk to the children?

i just love the fact they talk about it as though it were a good thing..

more and more simply dont trust the MSM.
they are seeing through the BS.
because the BS is so freaking obvious.

Offline Dig

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C-SPAN3 AIG (now AIU) Geithner/Bernanke Hearing w/RP
« Reply #215 on: March 24, 2009, 09:28:40 am »
Geithner: "AIG (now AIU) employs one out of 3 American citizens"

Did this guy just have a fricking labotomy?

How many people out there get a paycheck from AIG (Now AIU)?
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

Offline Dig

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Re: LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #216 on: March 24, 2009, 09:31:08 am »
now Bernanke is talking, just pure lie after lie after lie
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

Offline Dig

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Re: LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #217 on: March 24, 2009, 09:33:14 am »
Barney Frank had to stop the hearing twice so far:

"Ifffshth youse peoples do nothhth sthop this sillinethssss I will have to shthstop thththtissssss hearing"
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

Offline Dig

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #218 on: March 24, 2009, 09:34:22 am »
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

Offline Optimus

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #219 on: March 24, 2009, 09:44:37 am »
“The Constitution is not an instrument for the government to restrain the people,
it's an instrument for the people to restrain the government.” – Patrick Henry

>>> Global Gulag Media & Forum <<<

Offline Kain

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #220 on: March 24, 2009, 09:47:46 am »
Dudley is on now spewing bullshit.

Using the rage over the AIG to ramrod more federalization of companies.

AIG = Millions

Total money stolen = Trillions.

My God, we're inept as a people.
"People don't like to be meddled with. We tell them what to do, what to think, don't run, don't walk. We're in their homes and in their heads and we haven't the right. We're meddlesome." - River Tam

Offline Dig

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #221 on: March 24, 2009, 09:48:25 am »
Alan Grayson Questions CEO Edward Liddy on AIG Cover-up
http://www.youtube.com/watch?v=6HYq6kdseV8
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

Offline Dig

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #222 on: March 24, 2009, 09:49:14 am »
Is the hearing about this Sane?

http://forum.prisonplanet.com/index.php?topic=95049.0

looks like it

Geithner to Ask Congress for Broad Power to Seize Firms
Goal Is to Limit Risk to Broader Economy
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/24/AR2009032400847.html?hpid=topnews
By Binyamin Appelbaum, David Cho and Debbi Wilgoren
Washington Post Staff Writers
Tuesday, March 24, 2009; 9:39 AM

The Obama administration will ask Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge funds, whose collapse would damage the broader economy, White House spokesman Robert Gibbs said this morning.

Treasury Secretary Timothy F. Geithner is set to argue for the new powers at a hearing today on Capitol Hill that was scheduled to address the furor over bonuses paid to executives at American International Group, which the government has propped up with about $180 billion in federal aid. Administration officials say the proposed authority would have allowed them to seize AIG last fall and wind down its operations at less cost to taxpayers.

The government at present has the authority to seize only banks.

Giving the Treasury secretary the power to seize a broader range of companies would mark a significant shift from the existing model of financial regulation, which relies on independent agencies that are shielded from the political process. The Treasury secretary, a member of the president's Cabinet, would exercise the new powers in consultation with the White House, the Federal Reserve and other regulators, according to an internal administration document.

The administration plans to send legislation to Capitol Hill this week. Sources cautioned yesterday that the details, including the Treasury's role, are still in flux.

"We need resolution authority to go in and be able to change contracts, be able to change the business model, unwind what doesn't work," Gibbs said on CNN in one of several morning television interviews aimed at promoting the administration proposal. " . . . This is the exact type of authority that will allow us to deal with the problems in AIG . . . that will address the systemic risk without having to put [a failing firm] in bankruptcy."

Geithner will testify alongside Federal Reserve Chairman Ben Bernanke. The hearing before the House Financial Services Committee follows last week's revelation that AIG paid more than $165 million in retention bonuses to employees at its Financial Products division, the same unit whose complex derivatives largely precipitated the company's downfall. AIG chairman Edward M. Liddy testified before the same House committee last week, but Chairman  Barney Frank (D-Mass) vowed to hold a second hearing "to more thoroughly examine the oversight of the federal government's intervention" at AIG.

Last week, the House overwhelmingly passed legislation that would tax 90 percent of the retention payments. Yesterday, New York Attorney General Andrew Cuomo announced that the majority of executives at AIG Financial Products had indicated their willingness to return the retention payments they had received, and Senate leaders said they will put off consideration of their version of the tax bill.

The administration's proposal contains two pieces. First, it would empower a government agency to take on the new role of systemic risk regulator with broad oversight of any and all financial firms whose failure could disrupt the broader economy. The Federal Reserve is widely considered to be the leading candidate for this assignment. But some critics warn that this could conflict with the Fed's other responsibilities, particularly its control over monetary policy.

The government also would assume the authority to seize such firms if they totter toward failure.

Besides seizing a company outright, the document states, the Treasury Secretary could use a range of tools to prevent its collapse, such as guaranteeing losses, buying assets or taking a partial ownership stake. Such authority also would allow the government to break contracts, such as the agreements to pay $165 million in bonuses to employees of AIG's most troubled unit.

The Treasury secretary could act only after consulting with the president and getting a recommendation from two-thirds of the Federal Reserve Board, according to the plan.

"This is common sense. This isn't anything crazy," Gibbs told CNN. " . . . If the Treasury had resolution authority on AIG, you wouldn't have to put it in bankruptcy to change executive compensation, you could do that automatically."

Geithner plans to lay out the administration's broader strategy for overhauling financial regulation at another hearing on Thursday.

The authority to seize non-bank financial firms has emerged as a priority for the administration after the failure of investment house Lehman Brothers, which was not a traditional bank, and the troubled rescue of AIG.

"We're very late in doing this, but we've got to move quickly to try and do this because, again, it's a necessary thing for any government to have a broader range of tools for dealing with these kinds of things, so you can protect the economy from the kind of risks posed by institutions that get to the point where they're systemic," Geithner said last night at a forum held by the Wall Street Journal.

The powers would parallel the government's existing authority over banks, which are exercised by banking regulatory agencies in conjunction with the Federal Deposit Insurance Corp. Geithner has cited that structure as the model for the government's plans.


All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

Offline Dig

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #223 on: March 24, 2009, 09:51:45 am »
i think rp is on this committee
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

Offline Bash Riprock

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #224 on: March 24, 2009, 09:55:38 am »
I wish this was instead a criminal hearing for the People vs. Geithner/Bernanke.

AlphaM

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #225 on: March 24, 2009, 09:55:48 am »
And while on the subject of Benny and Timmeh, will someone have the guts to call them out on this?

Lawlessness Begets Lawlessness

Quote
Nice 7% rally yesterday eh?

A few minutes after the close, we got this:

    WASHINGTON (MarketWatch) -- The Treasury and the Federal Reserve released a joint statement Monday that spells out the different responsibilities of the two agencies in dealing with the financial crisis. In the most noteworthy part of the agreement, Treasury said it would take over the Fed's holding of assets of Bear Stearns and American International Group. Treasury did not say how it would pay for these programs and said it would only make the move "in the longer term and as its authorities permit." The Fed's investments in the three funds, known as Maiden Lane, totaled $72.21 billion in the latest week, according to Fed statistics.

Yes, those three "Maiden Lane" equity investments that The Fed is not authorized to make at all, and which Ben Bernanke assured us as recently as January would not lose money.

The truth?

    - Note: Maiden Lane fund hold Bear Stears and AIG assets. Additionally on 1/20, the WSJ noted that at the end of Sept, Maiden Lane had a value of $27B and the same article noted that analysts expect the value of the Maiden Lane assets to have dropped more in Q4. Furthermore on 3/17, it was disclosed that Maiden Lane III paid $62B to buy CDOs and thus settle derivative transactions for AIG with 16 investment banks in return for securities worth less than $30B.

Uh, the very same Fed that took an intentional $30 billion loss without appropriating the funds via The House (Congress) as required by The Constitution and now intends to pass that $30 billion loss directly to the Treasury (and the taxpayer), just a couple of months after telling us that they'd take no loss?

The Fed put this ditty out to go along with it:

.....

    2. The Federal Reserve to avoid credit risk and credit allocation
    The Federal Reserve's lender-of-last-resort responsibilities involve lending against collateral, secured to the satisfaction of the responsible Federal Reserve Bank.  Actions taken by the Federal Reserve should also aim to improve financial or credit conditions broadly, not to allocate credit to narrowly-defined sectors or classes of borrowers.  Government decisions to influence the allocation of credit are the province of the fiscal authorities.

This, of course, is why they entirely ignored that charter and took three separate equity positions including one of them in which they took an intentional loss while Ben Bernanke appears to have lied to Congress and The American People, stating that there had been and would not be, in his best judgment, any loss at all?

How do you square that with taking an intentional loss by overpaying for CDS on purpose that at the time of acquisition have less than half of the value you spend in dollars?

Lying to Congress is already punishable, but we must go much further.

We need a special prosecutor - now - to investigate this and see if there are criminal sanctions that can be brought against Bernanke and the rest of The Federal Reserve Board, and while we're at it, Congress needs to revoke The Fed's charter or rewrite The Federal Reserve Act so as to provide for specific severe criminal penalties for actions that clearly exceed The Fed's charter.

Enough is enough.

Offline Dig

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #226 on: March 24, 2009, 10:00:31 am »
I wish this was instead a criminal hearing for the People vs. Geithner/Bernanke.

The people definitely see who the criminals are and they are on both sides of the carpet.

I mean this is more of a show trial/hearing than Nuerenberg.

WTF?
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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #227 on: March 24, 2009, 10:19:41 am »
Geithner: "I trhink it is unfair to suggest that we do not have the best interest of the American people at hand".

Really?

Unfair?

Like stealing $5.7 Trillion unfair?

That kind of unfair?
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Offline Kain

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #228 on: March 24, 2009, 10:20:33 am »
Does anyone else notice that it's all basically just lipservice to the Federal Reserve? I haven't seen any hard hitting questions asked yet. It's like an endless circle jerk.
"People don't like to be meddled with. We tell them what to do, what to think, don't run, don't walk. We're in their homes and in their heads and we haven't the right. We're meddlesome." - River Tam

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #229 on: March 24, 2009, 10:23:02 am »
Does anyone else notice that it's all basically just lipservice to the Federal Reserve? I haven't seen any hard hitting questions asked yet. It's like an endless circle jerk.

and the taxpayer does not even get a reach around
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #230 on: March 24, 2009, 10:30:37 am »
hahahahahahahaha


no authority under constitution!!!!!!!!!!!!!!!!!




hahahahahaha



YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


BOOOYAAAAAAAAAAAAAAAA!!!!!!!!!!!!!!!!!


YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #231 on: March 24, 2009, 10:31:43 am »
Rep. Mazine Waters nailed Timmy on the Goldman Sachs connections to all this BS. Indeed , all does point at these SOB's.
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Offline Dig

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #232 on: March 24, 2009, 10:31:59 am »
Rep Michele Bachmann


ONE WORLD CURRENCY!!!!!!!!!!!!!!!!!!!!!!!!





PUBLICLY RENOUNCING ONE WORLD CURRENCY ON RECORD!!!!!!!!!!!!!!!!!!!!!!


Double BOOOOOOOOOOOYAAAAAAAAAAAAAAAAAAAAAAAAA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #233 on: March 24, 2009, 10:32:56 am »
YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!



No knowledge of where the money goes!!!!!!!!!!!!!!!!!!!!!


SHE KICKS ASS!!!

WHO IS SHE?
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

Offline IridiumKEPfactor

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #234 on: March 24, 2009, 10:33:21 am »
Michele Bachmann just asked Bernake about the 10 TRILLION


Offline Kain

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #235 on: March 24, 2009, 10:35:10 am »
Awww. the poor banks, Bernanke says, would be disadvantaged by people not wanting to come to them if we knew they were being propped up by the public.

Now Frank won't let an answer happen. He went into a 30 minute diatribe about extra time, when an answer from Bernanke would have taken 10 seconds or less.

It's a total bullshit puppet trial.
"People don't like to be meddled with. We tell them what to do, what to think, don't run, don't walk. We're in their homes and in their heads and we haven't the right. We're meddlesome." - River Tam

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #236 on: March 24, 2009, 10:35:19 am »
Barney Frank cut her off before Bernanke could answer!

On record with a BS excure!

She is a cool, calm operator.  She is a surgeon that cuts right to the core of the issue, wow.

YOUTUBE NEEDED!!!!

A young ron paul! [UPDATE: her record exposes that she ain't no ron paul and has been duped by all sorts of nonsense, but use their weapons against them and this 5 minutes was pretty awesome]
All eyes are opened, or opening, to the rights of man. The general spread of the light of science has already laid open to every view the palpable truth, that the mass of mankind has not been born with saddles on their backs, nor a favored few booted and spurred, ready to ride them legitimately

Offline IridiumKEPfactor

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #237 on: March 24, 2009, 10:35:24 am »
THIS IS A FARSE!!! Barney Frank refuses TO ALLOW TIME for the question to be answered!!!


Offline Kain

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #238 on: March 24, 2009, 10:36:27 am »
and the taxpayer does not even get a reach around

Nope. But the taxpayer does get a tossed salad. Without dressing.
"People don't like to be meddled with. We tell them what to do, what to think, don't run, don't walk. We're in their homes and in their heads and we haven't the right. We're meddlesome." - River Tam

Offline IridiumKEPfactor

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Re: C-SPAN3 LIVE AIG (now AIU) Geithner/Bernanke Hearing
« Reply #239 on: March 24, 2009, 10:37:15 am »
So This is how it works. The commitee chair persons ALL HAVE HAVE BEEN bought and the honest few congress people have no say.