Anyone else find our representatives grilling of the Fed embarrasing?

[tango29]

I don't know how many of these grilling's I've listened to now over the years. Today it's the Fed Chair, and most often it is the Fed Chair, but it can be anyone they have brought before the clown show. Most of the Senators and Congressmen/women really make me ill listening to the stupid self serving questions/ statements they spew forth.
I don't believe when they actually ask a pertinent question that most of them even know what they are talking about, but had staff put together something in an attempt to make them look intelligent. Those questions seem to be a rarity anyway, and most often they are just making election statements or biased accusations for a hopeful headline.
My rant could continue, but I feel better for the moment.
Peace

 

[nooby_mcnoob]

It is embarrassing and it represents the idiocy of the general populace.

 

[Bekim]

That lady from Detroit acting like shes knows the responsibilities of his job better then he does.

 

[southall]

Ron Paul used to make Ben Bernanke sweat in his first few meetings. Then Bernanke learnt the stock political answers.

 

[Sig]

I don't know how many of these grilling's I've listened to now over the years. Today it's the Fed Chair, and most often it is the Fed Chair, but it can be anyone they have brought before the clown show. Most of the Senators and Congressmen/women really make me ill listening to the stupid self serving questions/ statements they spew forth.
I don't believe when they actually ask a pertinent question that most of them even know what they are talking about, but had staff put together something in an attempt to make them look intelligent. Those questions seem to be a rarity anyway, and most often they are just making election statements or biased accusations for a hopeful headline.
My rant could continue, but I feel better for the moment.
Peace

In their defense they may go from a Fed hearing at 10 to a hearing on the Palestinian peace plan at 2 to a hearing on offshore oil safety at 5. Even the range of subjects on a given committee are far beyond the level that you or I could ask intelligent questions on all of subjects. So they hire staff with expertise in those areas and they come up with questions and evaluate the answers. I agree that a lot of them are morons, but I'm also not sure I could do a significantly better job asking intelligent questions on that wide of a range of subjects and I have a pretty high opinion of my intelligence.

 

[jtrader33]

In their defense they may go from a Fed hearing at 10 to a hearing on the Palestinian peace plan at 2 to a hearing on offshore oil safety at 5. Even the range of subjects on a given committee are far beyond the level that you or I could ask intelligent questions on all of subjects. So they hire staff with expertise in those areas and they come up with questions and evaluate the answers. I agree that a lot of them are morons, but I'm also not sure I could do a significantly better job asking intelligent questions on that wide of a range of subjects and I have a pretty high opinion of my intelligence.

I don't disagree with the OP, but you're spot on about the impossibility of what's asked of these people. It's not 1790 anymore when understanding the blacksmith, farmer, and inn keeper summed up the job. The congressional structure is completely antiquated. We should be electing experts in their field to sit on appropriate committees and nothing more (e.g. Romney/Corzine to financial services). The jack of all trades model is entirely inefficient and allows absurdities like .5% tax on financial transactions to be spoken aloud with a straight face.

 

[zdreg]

/Corzine

corzine? You are right. It takes a thief to know a thief. He is definitely qualified to vet everybody who appears before the finance committee.

 

[schizo]

I don't know how many of these grilling's I've listened to now over the years. Today it's the Fed Chair, and most often it is the Fed Chair, but it can be anyone they have brought before the clown show. Most of the Senators and Congressmen/women really make me ill listening to the stupid self serving questions/ statements they spew forth.
I don't believe when they actually ask a pertinent question that most of them even know what they are talking about, but had staff put together something in an attempt to make them look intelligent. Those questions seem to be a rarity anyway, and most often they are just making election statements or biased accusations for a hopeful headline.
My rant could continue, but I feel better for the moment.
Peace

These days, it's mob politics. Politicians pander to public polls for name recognition (aka votes). It's truly a circus at its best. However, Trump, with all his tweets and re-tweets, has made this into a three-ring circus.

 

[SunTrader]

MAGA is a three-ring Reality TV circus all by itself

Meanwhile Powell warns that $1 trillion yearly budget deficits are not sustainable?

Just a tad late with that.

 

[comagnum]

The Fed has lost any sense of ethics since the days of Volcker. Their actions create bigger & bigger bubbles which transfers more more wealth from the 99% to the 1%. The Fed is often compared to an active Heroin addict, I think the junky has more common sense.

They are clueless ego maniacs that now think they can control the business cycle, & they can at the cost of a much larger day of reckoning down the road.

Check out 'Fedup - Danielle DiMartino'. She is a former Fed insider that lays out the corruption and illustrates just how clueless & delusional they have become.