Bernanke urges bold action to avoid lengthy slump ('Bold'='higher taxes, socialized healthcare?)

Reuters on Yahoo ^ | 3/3/09 | Reuters

[goodnesswins]

“bold” is the Dems word of the week....What’s the Republican’s?????? HELLOOOOOOOOOO???

[Mr. K]

I thought the last two “bold actions” were going to solve the problem?

[Old Retired Army Guy]

Rush led his show off today relating as soon as Bernake started advocation Obama’s budget the stock market went south. Way to go Fed Chairman.

[Smogger]

“Whether the government needs to increase the size of a $700 billion bank rescue package depends on government evaluations of lenders and the course of the economy, the Fed chairman said.”

Sounds like AP spin.

[mewzilla]

Bernanke’s problem: Capitalism.

[roses of sharon]

When Bernake refused to diss Hussein's budget....the market began to fall.

[BGHater]

The Fed, part of the NWO plan.

[mort56]

Thanks but no thanks

[silverleaf]

Ben is about out of bullets, having cut interest rates
to -0-?

Therefore the boldest action I can think of would be an across the board tax cut for ALL individuals and businesses, and eimination of the capital gains tax.

But since idiots elected a marxist ideologue with narcissistic personality disorder, this is never gonna happen on his watch

[GonzoGOP]

A fireman charging into a burning building to save someones life is bold, since there is the possibility of doing considerable good, by incurring considerable risk. Standing outside and using the fire truck to hose down the fire is not bold, because while it does some good, there is little risk. Driving the fire truck into the building, is stupid, since it has no chance of saving the person, eliminates the chance of putting out the fire, and actually makes the fire worse when the fuel tanks cook off. This budget is not bold, it is stupid.

[Farmer Dean]

Bernanke knew he was in trouble when even Bernie Sanders was grinding his ass.

[LibLieSlayer]

These assholes have no idea what to do and what is causing these problems... Bush screwed up with every economic appointment that he made... or so it seems. Do what Reagan did... do what Kennedy did... do what Bush did and cut taxes, cancel Capital gains taxes and cut income tax rates... stand back and get the hell out of the way!

LLS

[semantic]

Every dollar that flees the stock market flows right to Hussein in the form of Treasuries. The Kenyan's ability to pull off a socialist coup is related directly to his ability to leverage the good faith & credit of the productive citizen. YOU!

Stop his ability to issue $trillions of debt (at less that 3% no less) on YOUR back and you will help stop his plan to socialize the US cold in its tracks.

[Captain Kirk]

How many Romneyites and others still think that the billionaire bailout in October was a good idea?

[phormer phrog phlyer]

I agree, it appears we need a long series of bold actions to counter this challenge.

[colorado tanker]

"We are better off moving aggressively today to solve our economic problems," he told the Senate.

The problem, putz, is that you haven't convinced us or the markets you know how to "solve" anything.

When are you going to stop dropping billions into a money pit and start stripping the bad assets out of the banks' balance sheets and liquidating them, which is what needs to be done? So what if you might have to take some of them into receivership, clean up the balance sheet, and sell or merge them? That's what's worked in the past, so get started, take some "bold" action already.

[silverleaf]

at least the dollars which are simply evaporating from the stock market will no longer be taxable by Barry, having shed their earthly existence as generators of dividends or interest or capital gains or reinvestment in future wealth

RIP, trillions in vanished American (formerly taxable) wealth

[madinmadtown]

Could someone please tell me about Bernake’s history. Where is he from? Where did he work? Where did he go to school? How did he ever get in the position he is currently in?

[NormsRevenge]

http://www.federalreserve.gov/aboutthefed/bios/board/bernanke.htm

Dr. Bernanke was born in December 1953 in Augusta, Georgia, and grew up in Dillon, South Carolina. He received a B.A. in economics in 1975 from Harvard University (summa cum laude) and a Ph.D. in economics in 1979 from the Massachusetts Institute of Technology.

Dr. Bernanke is married and has two children.