Bernanke Vs RP

[newbitech]

chit, I wanted to hear the rest of that!

 

[HOLLYWOOD]

Oh that Rep. Carolyn Maloney (D-NY)... She's a Moron when it comes to Economics/Fiscal policies... how the heck did she get appointed to the financial committee? Oh that's right her district is WALL STREET! What a TOOL for Wall Street, The FED, and US TREASURY.

Maloney, "...I am not going forward on Transparency..."

Bernake... Apples, Oranges, Bananas... "We don't Spend, We Lend... We get Repaid"

 

[MsDoodahs]

That stupid blonde bitch in the red dress from CAlifornia I think...she just finished speaking a moment ago....she got her ass in a crack on CNBC earlier.

And Caruso-Cabrera got a tiny bit of respect from me for her questions.

But only a tiny bit.

Maloney - that's her, thanks Hollywood.

 

[newbitech]

http://www.cspan.org/Listen/C-SPAN-Radio_wm.aspx

still on the radio if you want to hear the rest.

 

[haaaylee]

i kind of missed that, bernake just said "im sure congressman paul would be worried about that." or "wouldn't like that."

 

[MsDoodahs]

Yeah, he was ridiculing the good Doctor, I'm sure, though I was not really listening close, but perked up when he said Mister Paul.

I hate you Ben Bernanke.

 

[surf]

i recorded the house of reps - and they were showing King Obama.... youtube?

 

[Dark_Horse_Rider]

Yeah, he was ridiculing the good Doctor, I'm sure, though I was not really listening close, but perked up when he said Mister Paul.

I hate you Ben Bernanke.

This seems to be their favorite tactic... to try and portray him as a joke somehow.

Watching this makes one realize what a gem we have in Dr. Paul and what a lack of competence we have in our government.

 

[MsDoodahs]

Okay, Bernanke said that the credit freeze is over in his hearing, I did not hear him say it but it was a "headline" on the bottom of the channel (bloomers).

Now, I see the headline "credit has slowed to a trickle says Geitner" on the bottom of the channel (bloomers.)

 

[haaaylee]

http://www.youtube.com/results?uploaded=d&search_query=ron+paul+bernanke

 

[MsDoodahs]

Who was that guy "was the first 350 billion of the tarp spent as it was represented to the US CONGRESS - Yes or No?

Bernanke...uh...well...there was some confusion....blah blah blah

Congresscritter: I will take that as a NO. Thank you.

ROFLOL!

 

[cska80]

I like how he just said the Fed is backed mostly by gold. Says who? Him? Lets see it, Mr. Bernanke!

 

[brandon]

http://www.youtube.com/watch?v=XS6Y8lxig30

 

[MsDoodahs]

I like how he just said the Fed is backed mostly by gold. Says who? Him? Lets see it, Mr. Bernanke!

I missed that. Dang.

 

[Arklatex]

Who was it that Miss Doodahs is talking about

 

[Imperial]

/I like how he just said the Fed is backed mostly by gold. Says who? Him? Lets see it, Mr. Bernanke!

Oops, Bernanke you should realize the status quo system is fed by perception and foreign investment. You can't point out that the United States actually still has gold; remember, gold supposedly caused the Great Depression....

And now, transcripts of some nice moments. Courtesy of New York Times.

All that matters is how the people see it...

Emanuel Cleaver, a Democrat from Missouri, condemns the term “bad bank.” He says the term does not exactly inspire support for the program. Maybe it should be called the “Damascus Road” bank, he says, or maybe the Fed should have a linguist look into something else more appealing.

Always staving off disaster...

Asked again to evaluate the effectiveness of the original TARP funding, Mr. Bernanke says that the infusion of capital into troubled financial institutions was “important,” and that it “avoided a global meltdown.”

There is only so much man can do...

Tom Price, a Republican from Georgia, wants to know how much more the Fed can do, given how low interest rates are and how much capital has already been injected into struggling financial institutions. Mr. Bernanke says, “We’ve found some other ways to ease financial conditions,” and rattles off a few programs he listed earlier in his prepared testimony: lending directly to financial institutions to increase their liquidity; buying securities; intervening in the commercial paper market; etc.

Of course hyperinflation can never happen...

When asked about the risk of hyperinflation posed by the government’s pumping billions of dollars into the American economy, Mr. Bernanke says he does not see any immediate risk of hyperinflation. In fact, the economy has experienced disinflation in recent months. But to ward of out-of-control prices increases, a goal that Mr. Bernanke says is important for the long-term health of the economy, the Fed will eventually need to wind down its balance sheet expansion.

When has government ever wasted money?

J. Gresham Barrett, a Republican from South Carolina, asks Mr. Bernanke a tough yes-or-no question: Was the first $350 billion of the TARP spent well?

Mr. Bernanke doesn’t answer in an absolute affirmative or negative. He instead says there was some “confusion” initially, and that the money from the TARP was not used as originally planned — that is, for the purchase or troubled assets from flagging banks. He says the money was not available quickly enough to carry through on that plan, and so capital infusion instead became necessary.

Mr. Barrett responds: “I’ll take that as a no.”

The Fed is supposed to handle crises, but it does that other stuff too...

Asked whether the Fed can handle so many goals, responsibilities and pressures right now, Mr. Bernanke says the Fed was founded to manage crises, rather than to manage output between crises.

Perception again...plus the old Fed = fraud. Who is this congressman?

Randy Neugebauer, a Republican from Texas, wants to know what happens when no one wants to buy Treasuries anymore. He also complains about the way the Fed is characterizing its balance sheet. “You’d be on a watchlist if you weren’t the Federal Reserve,” he says.

Mr. Bernanke responds that investments in Treasuries have gone up because they are seen as safe.

The usual Ron Paul, always fighting for a voice

Ron Paul, a Republican from Texas, presidential candidate in the 2008 election and vocal opponent of the very existence of the Federal Reserve, complains about transparency at the Fed, and his colleagues’ apparent lack of interest in the subject.

Accountability

Spencer Bachus, a Republican representative from Alabama who is a ranking member on the committee, says that “not only has there been no disclosure” or accountability, but the government’s top economic agencies and officials have shown “active resistance” to explain themselves or disclose the terms of their plans to fix the economy.

The bright line is dull indeed....

Representative Bachus wants to know how the Fed decides which financial institutions to save, and says, “too big to fail implies too small to save,” which “doesn’t seem to be a fair criteria.” Mr. Bernanke says the Fed looks at the likely ripple effects of a particular bank’s failure, and that he agrees the process probably doesn’t seem fair to smaller institutions.

Arrogance of Centralized Banking(DONT WORRY, WERE SAVED)

Unusual and exigent | 1:28 p.m.: Mr. Bernanke talks about the Fed’s authority to lend directly to individuals, partnerships or corporations in “unusual and exigent circumstances.” He says that these programs will be wound down as “financial conditions improve and circumstances are no longer ‘unusual and exigent.’”

He also says he hopes to improve openness and public access to Fed policies and programs. He said Fed staff are rolling out a new Web site soon.

Judging success | 1:25 p.m.: Mr. Bernanke cites “widespread agreement” that the Fed’s recent lending programs, such as the commercial paper funding facility, have helped stabilize the nation’s financial system.

New lending facilities | 1:22 p.m.: Mr. Bernanke is explaining the Fed’s new lending programs, including “facilities to purchase highly rated commercial paper at a term of three months and to provide backup liquidity for money market mutual funds. In addition, the Federal Reserve and the Treasury have jointly announced a facility–expected to be operational shortly–that will lend against AAA-rated asset-backed securities collateralized by recently originated student loans, auto loans, credit card loans, and loans guaranteed by the Small Business Administration.”

 

[Conza88]

gimme all the tubes..

 

[Knightskye]

Is there another video where Dr. Paul asks him a question?

I watched the video brandonyates linked to(http://www.youtube.com/watch?v=XS6Y8lxig30), which was about 3:10 of awesomeness, but he didn't ask Bernanke a question.

 

[Primbs]

these people... are SOOOO boring.... someone should juggle while they talk thatd be sweet

http://www.youtube.com/watch?v=4Z3oNslGYYA