Bye bye Berneke?

Discussion in 'Wall St. News' started by PlusMinus, Jan 21, 2010.

  1. The guy is a student of the Depression, studies his whole life and the Senate wants to kick him out? For who? What a bunch of dopes.
  2. He's a FAILURE!
  3. Read it and WEEP:

    March 28th, 2007 – Ben Bernanke: "At this juncture . . . the impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained,"

    May 17th, 2007 – Bernanke: “While rising delinquencies and foreclosures will continue to weigh heavily on the housing market this year, it will not cripple the U.S.”

    June 20th, 2007 – Bernanke: (the subprime fallout) ``will not affect the economy overall.''

    October 15th, 2007 – Bernanke: "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."

    February 29th, 2008 – Bernanke: "I expect there will be some failures. I don't anticipate any serious problems of that sort among the large internationally active banks that make up a very substantial part of our banking system."

    Mar 18th, 2008 - Bear Stearns Bailout Announced

    June 9th, 2008 – Bernanke: Despite a recent spike in the nation's unemployment rate, the danger that the economy has fallen into a "substantial downturn" appears to have waned,

    July 16th, 2008 – Bernanke: (Freddie and Fannie) “…will make it through the storm”, "… in no danger of failing.","…adequately capitalized"

    Sept 8th, 2008 - Fannie and Freddie nationalized. The taxpayer is on the hook for an estimated 1 - 1.5 trillion dollars. Over 5 trillion is added to the nation’s balance sheet.
    September 16th, 2008 - $85 Billion AIG Bailout “Loan”
    September 19th, 2008 - $700 Billion Bailout Plan Announced

    September 19th, 2008 - Bernanke: "most severe financial crisis" in the post-World War II era. Investment banks are seeing "tremendous runs on their cash," Bernanke said. "Without action, they will fail soon."

    September 23rd, 2008 – Bernanke: "My interest is solely for the strength and recovery of the U.S. economy,"
  4. He might have meant "on planet earth."
  5. his problem is he's an egghead.

    we need an ass kicker