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HARK THE BITTER CLINGERS

Key Dems-no-more offered defenses for loser Obama and the failed Fed. “We applaud the Fed’s action and are especially encouraged by its clear signal that it stands ready to do more,” House Financial Services Chairman-on-the-skids Barney Frank (D-Mass.) and defanged Ways and Means Chairman Sander Levin (D-Mich) said in a joint statement.

Yawn----still bitterly clinging to their failed financial finagling.

Won't the miserable Dem suckers ever learn? They had it all, and blew it.....thanks to loser Obama, and stupid policies like these.

Unfortunately, by demonizing Bernanke and the Fed and the monetary policy the GOP (led by Ron Paul, of all people) again is making a mistake of taking their eyes off the debt and runaway deficits of fiscal policies of last decade. Bernanke in 2008 helped save the U.S. and the world's banking and financial system from the attack and near collapse, by recognizing and treating the problem and the attacks (bear raids and runs on the banks) as systemic, not limited to any specific troubled bank. He is attempting to fix another problem created by politicos, not the Fed.

Dems are loving that the Fed / Bernanke are the focus of GOP attacks - Barney Frank is once again moving his finger in the direction opposite of where the skeletons are buried (CRA / "home ownership society" / Fannie-Freddie-FHA-HUD / Carter-Clinton-Andrew Cuomo-Barack Obama-Barney Frank-Christopher Dodd-Franklin Raines-Jamie Gorelick-etc-etc) and Republicans are following its every turn. He tested that with the "Republican repeal of Glass-Steagall was the reason for financial meltdown" and it was sad to see how many people were losing focus and buying it, too.

We should stop reflexively helping make Bernanke / the Fed a scapegoat as "the root of all financial evil" - they didn't create the debt and deficit spending or the policy of "competitive devaluation" of USD$ of the last 10 years, the politicians in Congress and White House did.

Bernanke is just the messenger of the bad news, and is actually trying to keep the economy afloat by not repeating the mistakes of 1930's Great Depression and now the two "Lost Decades" of Japan, Inc. Let's not engage in "shooting the messenger"

Here's what Bernanke / the Fed are trying to do, faced with and despite the reckless, irresponsible borrowing and spending sprre of the fiscal policies of last decade, especially in its second half:

To see what Bernanke is trying to do to prevent double dip and asset deflation death spiral, follow the link inside this post:
"http://www.freerepublic.com/focus/news/2624051/posts?page=22#22" - FR, 2010 November 10