"...Audit? You can't do that! Go directly to jail for even thinking about it."
Posted on 08/25/2009 3:04:33 AM PDT by markomalley
His supporters argue that Mr Bernanke's unprecedented policies have ensured history will remember the self-styled 'Great Depression buff' differently.
Mr Bernanke, 55, Tim Geithner, the US Treasury Secretary, and Hank Paulson, Geithner's predecessor under the Bush administration, have spent the past 12 months tackling a financial and economic blaze that threatened to topple the world's financial system last autumn.
The crisis, whose symptoms first surfaced in America's sub-prime mortgage system two years ago, has since driven the global economy into its first global recession since World War II.
"I did spend a lot of my career studying the Great Depression and other financial crises," Mr Bernanke said earlier this year. "And I didn't expect it would be so helpful, so useful, as it has been."
The firefighting has seen the Fed chairman rescue one bank, let another collapse, inject billions into the economy through buying America's own debt and take interest rates to their lowest level on record. It's been a controversial series of policies that some argue is storing up a surge in inflation for the US economy.
(Excerpt) Read more at telegraph.co.uk ...
and learned absolutely nothing
I think the vernacular term for his economic approach is “kicking the can down the road.” Success is measured by how far he can kick it, and when does he run out of road.
Yep, the another guy dumb enough to go along with Bush’s ‘not a free market solution’ to save the free market, along with the Democrat Congress that passed TARP
Isn’t this that one that told a bunch of hearers that ‘he’ saved the world’s economy. We sure have a bunch of minds with ‘savior’ complexes running things right up there in ‘high’ places.
Why would he limit his goals?
He can now preside over the second and third Great Depressions.
We should call this something different. The “Great Depression” will always be a period of history that is remembered for its profound effect on the American psyche. This should be called The Great Disaster or The Great Disruption...............
Then you should've learned that you can't spend your way out of them.
He’s just another puppet for the money masters. Those people never get enough. Addicted to power and the lust for wealth.
But the reality is that this addiction for power and lust is destroying 'wealth'. Now that is a horse of a different color.
Destroying OUR wealth, not theirs.
We were used.
I am fairly well convinced that the whole thing has gotten totally out of control and those who engineered the collapse as a way to steal wealth have started to lose money themselves. Production is way down, it is hard to loot the world when little is being produced.
Something is up when Buffet starts complaining about the guy he supports. Right now it appears as though their weapon of mass destruction is 'confusion'. What else is left to conquer after taking over banks, auto, health care, disease, pestilence, census, cap&trade, CIA, oh well there is the sun that has not yet been darkened.
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