Did Bernanke Lie About Losses (or was he just incompetent?)

G

Greg Richards

In this August 2007 video, Janet Tavakoli, president of Tavakoli Structured Finance, says people feel they are being lied to and Ben Bernanke should stop letting Wall Street do his homework.

His loss figures and then her loss figures are shown on in the video. Tavakoli's were multiples of Bernanke's. These losses were for the underlying loans only, and in other work she showed how losses to investors with CDOs and CDO-squared products:

www.tavakolistructuredfinance.com/TST002-001.wmv
 
He is a liar.

The entire fed and treasury departments are cooking the books, producing bullshit numbers and hoping to buy time, build consumer and business confidence on a foundation of lies, and in reality, it will all fail.

You can fool some of the people all of the time, and you can fool all of the people some of the time, but you can't fool all of the people all of the time.

And you certainly can't fool the markets forever, where real people are betting real money, on probabilistic outcomes.

The jig is up.
 
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My only request from the Fed is to make it possible to exhange kilo bars for cash so I can pick up a decent house in Miami.
It's mindboggling that the only thing that has any monetary value in this world cannot be easily exchanged at any bank in this country for cash.
 
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