Ben Bernanke admits Bear Stearns was hours from collapse

Times of London ^ | 04/03/08 | Dearbail Jordan

[nicmarlo]

Kinda puts paid to those who said raiding the taxpayers was justified because it “saved” us all.

Doesn't it, though?!

[Toddsterpatriot]

He's also still saying that my bank was in trouble because I couldn't give EVERYONE (plus 20% more people he created out of whole cloth) a loan in cash!!!

You couldn't give them a good check or wire transfer either.

[nicmarlo]

In the meantime, helping Chase acquire Bear and opening the discount window averted a financial crisis for the investment banking industry and I will forever stand behind that.....it avoided more than you think.

I address this point of yours first. By now, you have, no doubt, read my post #222, if not also seen the video. Therefore, based on what I read, and heard, from that video, I categorically disagree with your statement. Jamie Dimon, Federal Reserve of NY Board Member, and CEO of JP Morgan, would also disagree, and did, under oath, with your statement.

Because Jamie Dimon has categorically, under oath, stated that things would have been "just fine" had Bear Stearns gone belly up....it will, forever, strongly INFLUENCE my own views as to "believing" what is not stated UNDER OATH as concerns what it is that Bernanke, et al., is up to and for what reasons.

[Toddsterpatriot]

Well Nic, you’ve got him

My post was to cinives.

[Toddsterpatriot]

Hey nic, he finally figured out that you're a gurrrrl!

Thanks for that tip. I always thought nic was just a really emotional guy. Who was really bad at math.

[Toddsterpatriot]

Posting the truth is a sexist attack?

[Toddsterpatriot]

Here's a link with some info about Enron.

Enron Fraud Information

Yet they put the Enron execs in jail over less.

If you think that what Jamie Dimon said under oath was worse than what these Enron guys did then the only thing I can say is that you're grossly misinformed.

[RSmithOpt]

I discussed with a coworker yesterday that we both see the next depression coming quickly as the domino effect is starting. The snowball is now just gaining speed as a result of the allowed legal over leveraging of banks and brokers. It's not going to be pretty.

It will be bad.

Goobermint revenues will shrink and we'll see tax increases at all levels so those in goobermint can have their jobs and health care.

Because of the BS line of liberals buried deeply in all levels of goobermint, they will not cut spending now and remove wasteful programs. This will also accelerate the depth of the depression.

Watch.