http://www.youtube.com/watch?v=rOVXh4xM-Ww Begging the Fed to cut interest rates. Asking the fed to create more debt, to pay for the debt already outstanding? After reading the thread below, I immediately thought of Jim Cramer's rant. http://www.elitetrader.com/vb/showthread.php?s=&threadid=139951&perpage=6&pagenumber=1 Did the investment banks get Jim Cramer to throw this rant to scare/panic Bernanke into lowering rates, because they knew if Ben didn't, we may have already crashed months ago? But at least the pain, for Main St may have been swift. But for the CEO's of these firms it would have been disastorous. But by getting Ben Bernanke to lower rates, they were hoping to put this collapse off on another group of CEO's or maybe another generation? And now because there wasn't a "natural flush" of the system, and now that Ben can only lower the interest rate, in reality another 100 BP, WE ARE REALLY FUCKED!? We just had another year and a half of incredible debt built up because Cramer and Co. didn't want to feel the pain that was inevitably coming. Because comments like, "this is banking 101" (that were made in the thread I posted), when it comes to the lending schemes by banks makes me think, they all knew this was coming they didn't want to be at the helm when it did. Now american tax payers will have to give up their social programs, maybe social security, savings and maybe livleyhoods to pay for ARTIFICIAL DEBT!? WOW lol. Good job Crames, as if making shitty stock picks night after night wasn't bad enough, you had to take down the whole dam country.
And let me just add, this is not just a jab at Crames. I think there may be some truth to it. Because when Bernanke was selected as the next Fed chairman, I had just started trading and that's when I used to be glued to MSNBC. And I remember one of the criticisms was that he had no real world experience. That most of his knowledge was from the books at Princeton. And as anyone that FOLLOWS and thinks, their studying the market by watching/paper trading. Knows it's a hell of a lot differnt when your playing with real money. And Ben was playing with TRILLIONS. Possible Wall St. gamed Bernanke? I certainly think so.