Someone needs to ask Bernake this

[piezoe]

Quote from Mike Okistini:

I don't get all this blame Bernanke shit.

Was it Bernanke who went out and bought a house he could not afford?

Was it Bernanke who acted as a mortgage broker and lied on applications to get business and close loans?

Was it Bernanke who acting as hedge fund over-leveraged themselves on sub-prime assets and stuff?

People bitch about the government interfering but the govt did not do any of this shit, private people do it to themselves and then cry.

People need to take personal responsibility.

Cannot believe Bernanke is blamed for currnet market mess.

THose who are begging for Bernanke to save them are no worse than welfare users who purposely ask for government handouts and choose not to do anything to better their situation.

Grow up everyone. If you were long biased all the way since AUG and took losses stop blaming Bernanke by you being blind in current market conditions. If you have a floating mortgage or interest only you cannot afford, sell your house and show some fiscal responsibility already. Our country bails out the rich everytime they mess up (LTCM, BSC, etc..).

I don't blame Bernanke. In fact i think he is doing a pretty good job in a tough situation. I blame Greenspan, who took the the discount rate below 1% in November of 2003 with the idea of goosing the economy to help get Bush re-elected. This was very late in a mild recession that we were already coming out of, and the Fed's action could not be justified on any rational economic basis. Then when it was clear that there were problems on the horizon, he looked the other way. He realized that there was a problem with the disconnect between those marketing mortgages and the ultimate holders of the debt, and said so at one point, but did not do a damn thing about it. He left a real mess for his successor to clean up.