I always wanted to hear someone who professes to know what Ben Bernanke means when he speaks. I know you're just dying to explain this to us:<quoted text>
And just how wouold an old retired fool like you know anything about what Bernanke understands??
You've proven you don't understand crap, as evidenced by the collapse of your favorite energy source, coal.
Oh, how I remember how you hawked 'clean coal', a technology that doesn't exist!!
And claimed that more coal power plants were being built.
Well, they're not. Coal has collapsed, just look at stock prices for Peabody and Arch Coal.
How's about your complete stupidity concerning GM??
The stock is now above it's IPO price, new products selling well, proving you and folks like Rmoney and those who called for GM's bankrupcy to be the idiots.
Mr Bush and Mr Obama together saved the American Auto Industry and many thousands of jobs.
Both President's proved the nitwits dead wrong.
You're a moron with nothing but time on your hands, an indicator that you're likely in a nursing home somewhere in PA, based on your time spent on this thread, pretty much 24/7.
But all you dispense is stupidity, based on yesteryear, which is your state of mind.
Ben Bernanke was testifying before Barney Frank's committee immediately after the economic meltdown of 2008. In his testimony, he specifically stated "Special Purpose Vehicles" in his testimony. After mentioning specifically "Special Purpose Vehicles", all questioning of him immediately ceased. Later, he received unanimous support from the Democrats to retain his position as head of the Federal Reserve.
Please define for us exactly what a "Special Purpose Vehicle" is, and tell us why it was significant enough for Bernanke to reference it in his testimony concerning the financial collapse.
Then, explain to us why Bernanke's mentioning of "Special Purpose Vehicles" was enough to shut every Democrat mouth in DC and ensure unanimous Democrat support for him to remain head of the Fed.