Ben Bernanke - Official Thread

[Lamarr]

Sen. Chris Dodd (D-Conn.) and other Senate Democrats on Thursday strongly backed Federal Reserve Chairman Ben Bernanke’s nomination for a second term.

Dodd, the chairman of the Senate Banking Committee, and Sen. Tim Johnson (D-S.D.) both immediately endorsed the Fed chairman in their opening statements at Bernanke’s confirmation hearing before the panel.

“I believe you are the right leader for this moment in our nation’s economic history and I think your reappointment sends the right signal to the markets,” Dodd said.

Sen. Evan Bayh (D-Ind.) said he would also support Bernanke's nomination.

While Bernanke appears headed for a second term, the vote on his confirmation will likely be far more divided than the overwhelming support Fed chairmen typically receive.

Sen. Richard Shelby (Ala.), the top Republican on the panel, sharply criticized the central bank, but did not immediately say how he would vote.

Shelby said he long placed confidence in the central bank but that now he is not sure if it was appropriate.

“I fear now, however, that our trust and confidence were misplaced,” Shelby said.

Others were more direct in their criticism of Bernanke.

“I will do everything I can to stop your nomination and drag out this process as long as I can,” said Sen. Jim Bunning (R-Ky.), who has long lashed out at the Fed. “Your Fed has become the creature from Jekyll Island.”

Sen. Bernie Sanders (I-Vt.), a vocal critic of the Fed, said late Wednesday that he would put a hold on Bernanke’s nomination. Sanders said the bank is too focused on Wall Street banks and not the broader economy.

Bernanke defended the central bank’s role in the financial crisis and its structure as Congress weighs major changes.

Bernanke said Thursday that the central bank’s actions have helped spur “the beginnings of a turnaround,” in the United States and around the world.

But Bernanke said the bank is re-evaluating how it supervises banks and said that regulators should “undertake unsparing self-assessments of their past performance.”

http://thehill.com/homenews/senate/70405-dodd-backs-bernanke-for-second-term-as-chairman-of-the-fed

 

[Cruise]

Re: Key Democrats Back Ben Bernanke For Second Term As Fed Chairman

“I will do everything I can to stop your nomination and drag out this process as long as I can,” said Sen. Jim Bunning (R-Ky.), who has long lashed out at the Fed. “Your Fed has become the creature from Jekyll Island.”

Sen. Bernie Sanders (I-Vt.), a vocal critic of the Fed, said late Wednesday that he would put a hold on Bernanke’s nomination. Sanders said the bank is too focused on Wall Street banks and not the broader economy.

This is funny right here. One guy mentions Jekyll Island. And, the other guy sees the Fed for what it is, a Wall Street mouthpiece.

It's funnier that the Democrats, the so-called party of black people, is the biggest backers of the Fed.

I wonder if these redneck attacks will cause black people to become defenders of the Fed.

Now, that would be ironic.

 

[thoughtone]

Re: Key Democrats Back Ben Bernanke For Second Term As Fed Chairman

Ralph Nader Senator Connecticut 2010​

 

[thoughtone]

Re: Key Democrats Back Ben Bernanke For Second Term As Fed Chairman

Key Republicans Back Ben Bernanke For Second Term As Fed Chairman Too!

The republican controlled media is trying to make it seem that democrats are cause of this economic meltdown. Tea Bagger backer Dick Armey voted for Bernanke the first time around and the no regulation right loved him before November 2008.

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(Liberal Socialist) Senator Bernie Sanders Puts Hold on Bernanke Confirmation ​

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[Lamarr]

Ben Bernanke - Time Magazine's Person of the Year!

http://www.time.com/time/specials/packages/article/0,28804,1946375_1947251,00.html

The story of the year was a weak economy that could have been much, much weaker. Thank the man who runs the Federal Reserve, our mild-mannered economic overlord

A bald man with a gray beard and tired eyes is sitting in his oversize Washington office, talking about the economy. He doesn't have a commanding presence. He isn't a mesmerizing speaker. He has none of the look-at-me swagger or listen-to-me charisma so common among men with oversize Washington offices. His arguments aren't partisan or ideological; they're methodical, grounded in data and the latest academic literature. When he doesn't know something, he doesn't bluster or bluff. He's professorial, which makes sense, because he spent most of his career as a professor.

He is not, in other words, a typical Beltway power broker. He's shy. He doesn't do the D.C. dinner-party circuit; he prefers to eat at home with his wife, who still makes him do the dishes and take out the trash. Then they do crosswords or read. Because Ben Bernanke is a nerd. (See pictures of Ben Bernanke's life from childhood to chairmanship.)

He just happens to be the most powerful nerd on the planet.

Bernanke is the 56-year-old chairman of the Federal Reserve, the central bank of the U.S., the most important and least understood force shaping the American — and global — economy. Those green bills featuring dead Presidents are labeled "Federal Reserve Note" for a reason: the Fed controls the money supply. It is an independent government agency that conducts monetary policy, which means it sets short-term interest rates — which means it has immense influence over inflation, unemployment, the strength of the dollar and the strength of your wallet. And ever since global credit markets began imploding, its mild-mannered chairman has dramatically expanded those powers and reinvented the Fed.

Professor Bernanke of Princeton was a leading scholar of the Great Depression. He knew how the passive Fed of the 1930s helped create the calamity — through its stubborn refusal to expand the money supply and its tragic lack of imagination and experimentation. Chairman Bernanke of Washington was determined not to be the Fed chairman who presided over Depression 2.0. So when turbulence in U.S. housing markets metastasized into the worst global financial crisis in more than 75 years, he conjured up trillions of new dollars and blasted them into the economy; engineered massive public rescues of failing private companies; ratcheted down interest rates to zero; lent to mutual funds, hedge funds, foreign banks, investment banks, manufacturers, insurers and other borrowers who had never dreamed of receiving Fed cash; jump-started stalled credit markets in everything from car loans to corporate paper; revolutionized housing finance with a breathtaking shopping spree for mortgage bonds; blew up the Fed's balance sheet to three times its previous size; and generally transformed the staid arena of central banking into a stage for desperate improvisation. He didn't just reshape U.S. monetary policy; he led an effort to save the world economy.

 

[Cruise]

Re: Ben Bernanke - Time Magazine's Person of the Year!

This is beyond words.

 

[thoughtone]

Re: Ben Bernanke - Time Magazine's Person of the Year!

This is beyond words.

Liberal?​

 

[nittie]

Re: Ben Bernanke - Time Magazine's Person of the Year!

This economy is a private insiders game so it's not surprising he won. It's no different than Obama winning the Peace Prize when he's escalating war in the Middle East. At least they didn't give it to Greenspan.

 

[VegasGuy]

Re: Ben Bernanke - Time Magazine's Person of the Year!

The 4 runners up are intersting too. Usain Bolt, Nancy Pelosi, General Stanley McChrystal, The Chinese Worker (aka Wal-Mart employees).

-VG

 

[Panameno718]

Re: Ben Bernanke - Time Magazine's Person of the Year!

Ben Bernanke should be arrested and put in jail he is one of the people responsible for this econimic state in America. Destroying the dollar and making it worthless around the world inflation on the rise and still rising.

 

[Lamarr]

Re: Ben Bernanke - Time Magazine's Person of the Year!

had to post this

December 16, 2009

NIA Names Bernanke "Villain of the Year 2009"

The National Inflation Association today named Federal Reserve Chairman Ben Bernanke 'Villain of the Year 2009'. Although the mainstream media is widely praising Bernanke for preventing the next Great Depression, all Bernanke has done is create unprecedented amounts of inflation in unprecedented ways. When it costs $20 for a gallon of milk in a few years, Americans will have nobody to thank more than Bernanke.

Read the rest here!
http://inflation.us/bernankevillainoftheyear.html

 

[thoughtone]

Re: Ben Bernanke - Time Magazine's Person of the Year!

'They' really want this guy as the Fed chairman again!

 

[Lamarr]

Re: Ben Bernanke - Time Magazine's Person of the Year!

'They' really want this guy as the Fed chairman again!

ok Thought, who is "they"? Obama? Goldman Sachs?

 

[thoughtone]

Re: Ben Bernanke - Time Magazine's Person of the Year!

ok Thought, who is "they"? Obama? Goldman Sachs?

All of the above plus the corporatists. Over the last week or so since Bernanke was before the senate confirmation hearing, Bernie Sanders’ hold on his nomination seems to ticking those who have a vested interest in keeping things the same off. So called left NPR had a piece saying the progressives and Ron Paul are upset at Bernanke, but the senate will confirm him. Those that have their future tied up in Wall Street paper want this guy in.

 

[Chitownheadbusa]

Re: Ben Bernanke - Time Magazine's Person of the Year!

Liberal?

"Liberalism seems to be related to a person’s distance from the problem"
– Whitney Young

 

[Nat_Turner]

Re: Ben Bernanke - Time Magazine's Person of the Year!

WTF?

 

[Lamarr]

Re: Ben Bernanke - Time Magazine's Person of the Year!

We are grateful to the Washington Post, the New York Times, Time magazine and other great publications whose directors have attended our meetings and respected the promises of discretion for almost forty years. It would have been impossible for us to develop our plan for the world if we had been subject to the bright lights of publicity during those years. But, the world is now more sophisticated and prepared to march towards a world-government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the National autodetermination practiced in past centuries.

- David Rockefeller in an address to a Trilateral Commission meeting in June of 1991

 

[thoughtone]

Ben Shalom Bernanke Confirmed By Senate, Vote Tally

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