'Bailout' Bernacke Slammed at Committee Hearing (video)

Asking Bernanke to have moral responsibility is like inviting him over for Christmas.

Quote from achilles28:

Today, a sitting member on the Banking Committee gave Helicopter Ben a well deserved FU for his Wallstreet bailout at the publics expense:

http://www.youtube.com/watch?v=AeHW...cles/september2007/200907_dollar_meltdown.htm



Nothing good can come of this.

Money-supply recoveries have the weakest legs. The near miss in Feb and recent market faltering (all during historic rate lows) confirm the obvious. This recovery is on life support. There is nothing keeping this BS market afloat other than Bernacke and his friggen printing press.

The longer he waits, the more debt will eventually default, the deeper companies exposure, and the more jobs lost.

Heap on all the savings stolen from now-to-then through spiraling inflation - we're going to have problems.


#1 - is this criminal?

#2 - what's the answer? Zimbabwe? Just inflate the piss out of the currency until we're back to third world status but owe nothing??????
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Quote from piezoe:

Did anyone ask Bernanke to explain the justification for leaving food and energy out of the inflation measure?
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Why would anyone ask that question, he has absolutely nothing to do with how it is calculated.
 
Quote from Hydroblunt:

Why would anyone ask that question, he has absolutely nothing to do with how it is calculated.
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Three good reasons:

1. He's an economist so he ought to know the answer. He quotes the CPI regularly so it's obvious that its method of calculation is of great interest to the Fed.

2. The Fed is free to compute inflation as they see fit, so what is their justification for sticking to the official government CPI?

3. The answer would be of broad interest, since leaving out food and energy is widely joked about. Aren't folks entitled to know what the justification is? Bernanke can't say "because leaving out food and energy cheats entitlements and holders of TIPS, misleads our creditors in a way favorable to us, and benefits Treasury by billions each year." So wouldn't you like to know the "official" reason? I certainly would. :)
 
The only reason why a lot of you guys are against the rate cut is cause it cost you money last tuesday. Tons of people here went short before the meeting expecting a post reduction selloff, which never happened.
 
Quote from stock_trad3r:

The only reason why a lot of you guys are against the rate cut is cause it cost you money last tuesday. Tons of people here went short before the meeting expecting a post reduction selloff, which never happened.
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Watch as other asset bubbles are created.
Inflation will become a bigger problem while the dollar continues to drop even further.
 
Quote from S2007S:

Watch as other asset bubbles are created.
Inflation will become a bigger problem while the dollar continues to drop even further.
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We've been hearing this for years.

You can keep shorting on the way up and losing money or go long.
 
Quote from stock_trad3r:

We've been hearing this for years.

You can keep shorting on the way up and losing money or go long.
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Im long and short all at the same time.
 
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