Bernanke's legacy looms over reappoin...

Bernanke's legacy looms over reappointment

There are 47 comments on the www.msnbc.msn.com story from Aug 23, 2009, titled Bernanke's legacy looms over reappointment. In it, www.msnbc.msn.com reports that:

Last year, as the gravest financial crisis since the Great Depression shook the banking system, Ben Bernanke seemed nearly as beleaguered as the institutions themselves.

Join the discussion below, or Read more at www.msnbc.msn.com.

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what

Baltimore, MD

#1 Aug 23, 2009
wall street can only stress people into a roar. wall street does not make real money.
hopeandfaith

Miami, FL

#2 Aug 23, 2009
The financial gurus who give us their forecasts should do us all a favor.....and, wear black mourning clothes and have a sickle in their hands as they have contributed their piece of the debaucle known at stimulus, buyouts and refusing to let this economy correct itself. Too big to fail? Which of these people decided who was too big to fail and proceeded to throw good money after bad.

Since: Nov 08

Location hidden

#3 Aug 23, 2009
Bernanke and Greenspan should both commit suicide.

“Truth to Power!”

Since: Apr 07

United States

#4 Aug 23, 2009
Obama will appoint a political puppet.

Since: Nov 08

Location hidden

#5 Aug 23, 2009
Knowing Obama, he'll make Bernie Maddoff the next putz to be the chairman.
MJK

East Berlin, CT

#6 Aug 23, 2009
Will Congress turned down their AUTOMATIC RAISE this coming year?

Let's watch and see!
amazed

Tallahassee, FL

#7 Aug 23, 2009
Their TARP plan was the biggest scam the world has ever seen. They will rot in hell. Time to Abolish the FED!
progressive

Lamoni, IA

#8 Aug 23, 2009
hopeandfaith wrote:
The financial gurus who give us their forecasts should do us all a favor.....and, wear black mourning clothes and have a sickle in their hands as they have contributed their piece of the debaucle known at stimulus, buyouts and refusing to let this economy correct itself. Too big to fail? Which of these people decided who was too big to fail and proceeded to throw good money after bad.
please tell us what economics courses you have taken, if any, which I doubt. or did you get your economic theories from Beck or the Bible, or Rush or right-wing Republicans?
King Tut

Anchorage, AK

#9 Aug 23, 2009
progressive wrote:
<quoted text>please tell us what economics courses you have taken, if any, which I doubt. or did you get your economic theories from Beck or the Bible, or Rush or right-wing Republicans?
or the communist GREEK REGRESSIVE from IA
progressive

Lamoni, IA

#10 Aug 23, 2009
amazed wrote:
Their TARP plan was the biggest scam the world has ever seen. They will rot in hell. Time to Abolish the FED!
I assume you are a Ron Paul supporter?Paulson's tARP plan was a big scam - he aske to be made economic and financial czar last September, and did not want any Congressional or other oversight of his actions, or any court review, either, jsut the $7000billion. He was secretary of the Treasury under Bush, and former executive of Goldman Sachs. Sachs survived the crisis, but one of its major competitors, Lehman Brothers was allowed to fail. We should find out who made that decision, and when, and why. The stock market went down several hundred points after that, because Lehman Brothers was apparently more mixed in with the financial system - maybe too big to fail, or too networked to fail - to go down without causing major ripple effect in the markets and in financial institutions. Greenspan is more to blame than Bernacke for getting us into this mess, becasue he had the power to investigate and regulate, and did not look into the over-leveraging (up to 30-1, instead of a conservative 6-1) of new financial instruments such as derivatives, and the ponzi scheme built on top of that - the credit default swaps, and the other little maneuvers of teh so-called smart guys at investment banks and hedge funds. I have mixed feelings about Bernacke, but one thing is certain: there should be a separate consumer protetion agency for financial matters, to oversee credit card companies, mortgages, and other customer so-called services (often scams instead) and pay-day loans, etc.(did you see about the Wells fargo Bank financing of many of the predatory pay-day lenders?).I would not trust any banker to oversee banks! Maybe with some modifications, Ron Paul's bill on transparency and auditing could be passed. But I do not trust characters like Ca. GOP Congressman Issa and others who are most critical of Bernacke. They were the types who wanted totally unregulated predatory capitalism, and casino capitalism, and look where it got us.
progressive

Lamoni, IA

#11 Aug 23, 2009
Eighthman wrote:
Bernanke and Greenspan should both commit suicide.
I am amazed that you criticize Greenspan. Would you explain why you don't like him? I dislike him, and I find it interesting what your reasons are. Are you a Ron Paul supporter, and anti-Fed in general, or is it some Greenspan policy that you object to? Just curious. not trying to pick an argument. I like it that Ron Paul thinks "outside the box" on many things, even when I disagree with him. He is no dittohead. he marches to his own drummer.
King Tut

Anchorage, AK

#12 Aug 23, 2009
Oh, would you pleaseee stop blowing your nose on long posts that no one of substance reads!!! LOON!!!!
progressive wrote:
<quoted text> I assume you are a Ron Paul supporter?Paulson's tARP plan was a big scam - he aske to be made economic and financial czar last September, and did not want any Congressional or other oversight of his actions, or any court review, either, jsut the $7000billion. He was secretary of the Treasury under Bush, and former executive of Goldman Sachs. Sachs survived the crisis, but one of its major competitors, Lehman Brothers was allowed to fail. We should find out who made that decision, and when, and why. The stock market went down several hundred points after that, because Lehman Brothers was apparently more mixed in with the financial system - maybe too big to fail, or too networked to fail - to go down without causing major ripple effect in the markets and in financial institutions. Greenspan is more to blame than Bernacke for getting us into this mess, becasue he had the power to investigate and regulate, and did not look into the over-leveraging (up to 30-1, instead of a conservative 6-1) of new financial instruments such as derivatives, and the ponzi scheme built on top of that - the credit default swaps, and the other little maneuvers of teh so-called smart guys at investment banks and hedge funds. I have mixed feelings about Bernacke, but one thing is certain: there should be a separate consumer protetion agency for financial matters, to oversee credit card companies, mortgages, and other customer so-called services (often scams instead) and pay-day loans, etc.(did you see about the Wells fargo Bank financing of many of the predatory pay-day lenders?).I would not trust any banker to oversee banks! Maybe with some modifications, Ron Paul's bill on transparency and auditing could be passed. But I do not trust characters like Ca. GOP Congressman Issa and others who are most critical of Bernacke. They were the types who wanted totally unregulated predatory capitalism, and casino capitalism, and look where it got us.
progressive

Lamoni, IA

#13 Aug 23, 2009
Eighthman wrote:
Knowing Obama, he'll make Bernie Maddoff the next putz to be the chairman.
Obviously I generally assume you are a right-wing nut, and an Obama hater, and a partisan extremist, but if you are more complicated and interesting than that, please explain what you think the Fed did wrong - before last September. and did you think Paulson did anything wrong during that time period? If you are specific about what you object to, and what policy you would prefer, then at least it would be substantively interesting, and not jsut your usual attacks an dinsults. I assume you have reasons for disliking greenspan? or is it just the Fed you dislike?
progressive

Lamoni, IA

#15 Aug 23, 2009
King Tut wrote:
<quoted text> or the communist GREEK REGRESSIVE from IA
I suspect King tut is a Palin supporter, since he or she uses the same silly name-calling. Accurate name-calling is quite different from making up strange lies and smears, as complete fictions. I even asked 8thman to explain his general ideology, and cannot assume exactly what his group is - not a Larouchie, I hope! It is not an insult from me to inquire whether someone is a Ron Paul supporter, but it certainly is criticism when I think someone is a Palin supporter. Some folks use entirely attacks and insults, and are so non-specific about any subsantive issue that one has no idea what views they hold, but only what sort of hatreds and prejudices have a hold on them. I do suspect King Tut is anti-intellectual, and perhaps not even thoughtful enough to have a sort of political philosophy, or to understand it, even.
progressive

Lamoni, IA

#16 Aug 23, 2009
this is the sort of topic where it is most interesting to have disagreements and discussions with intelligent Ron Paul supporters who have substantive arguments to make, and not merely the ones who know the slogans to repeat.
hopeandfaith

United States

#17 Aug 23, 2009
progressive wrote:
<quoted text>please tell us what economics courses you have taken, if any, which I doubt. or did you get your economic theories from Beck or the Bible, or Rush or right-wing Republicans?
I am also not the head of the Federal Reserve....nor one of the talking heads who deemed it necessary to throw caution to the wind and print money out of thin air. We are going to pay an awful price for what has happened. I did take economics in college, however, I doubt that you or I would rate as a financial wizard. It seems the wizards we have running the financials have lost their magic wand. By the way, you are correct...I am a conservative, fed up with liberals and Republicans who deserted conservative fiscal values. I am also a Bible believing Christian...and I think for myself.....Do you?
LocalBoy

Mooresville, IN

#18 Aug 23, 2009
progressive wrote:
<quoted text> They were the types who wanted totally unregulated predatory capitalism, and casino capitalism, and look where it got us.
This totally unregulated, predatory capitalism concept you subscribe to is impossible.
Unregulated economies are not full of oligarchs, monopolies and ponzi schemes. It takes government force to sustain a predatory monopoly or oligarchy. The free market will not sustain predatory practices like we have now, only government regulation can sustain that, complete with central bank liquidity to those preferred by the predatory regulation.

Goldman writes their own regulation, just as the AMA and big pharma. Health insurance writes their own regulation, and profits are up and competition non-existent.

Sorry, Lynette, but what you described is predatory regulation and government sponsored predatory corporations.

Crony capitalism.....or Corporate fascism, your choice.
LocalBoy

Mooresville, IN

#19 Aug 23, 2009
progressive wrote:
<quoted text> I am amazed that you criticize Greenspan. Would you explain why you don't like him? I dislike him, and I find it interesting what your reasons are. Are you a Ron Paul supporter, and anti-Fed in general, or is it some Greenspan policy that you object to? Just curious. not trying to pick an argument. I like it that Ron Paul thinks "outside the box" on many things, even when I disagree with him. He is no dittohead. he marches to his own drummer.
When the Dot Com bubble burst, from over stimulating by Greenspan, boy wonder just kept pumping away...more, more,more.

Greenspan created the mess we have now by continuing to kowtow to the political pressures of a recession when Bush was wanting war. This whole idea of bundling securitized mortgages and selling them to China to raise the interest paid on Treasuries while lowering the fed rates to over stimulate a failing economy is the brainchild of Greenspan.

Furthermore, has the federal reserve, our third central bank, ever stymied a war effort....NO, never. Why...because war empowers the banksters while destroying the middle class.
In fact, has any progressive President or congress ever turned down a chance at war....NOPE
Why - they love power.

Lets see - Wilson, progressive liberal - warmonger backed by the bank.
Trumen, progressive warmonger backed by the bank.
Johnson, warmonger backed by the bank
Bush 1 and Bush 2 .....progressive warmongers backed by the bank.

Why do you hate Bush so much, he is liberal, progressive warmonger ?
progressive

Lamoni, IA

#20 Aug 23, 2009
LocalBoy wrote:
<quoted text>This totally unregulated, predatory capitalism concept you subscribe to is impossible.
Unregulated economies are not full of oligarchs, monopolies and ponzi schemes. It takes government force to sustain a predatory monopoly or oligarchy. The free market will not sustain predatory practices like we have now, only government regulation can sustain that, complete with central bank liquidity to those preferred by the predatory regulation.
Goldman writes their own regulation, just as the AMA and big pharma. Health insurance writes their own regulation, and profits are up and competition non-existent.
Sorry, Lynette, but what you described is predatory regulation and government sponsored predatory corporations.
Crony capitalism.....or Corporate fascism, your choice.
actually, we go back a long time, and I think we have had relatively cordial disagreements. i do agree with you that when big corporate interests get control of government, they do put into effect laws that benefit them. But I think that either regulation or non-regulation, in the hands of a person determined to help the big special intersts, can be manipulated to help them. alan greenspan did not do the regulation, and the financial institutions got by with the over-leveraging at 30-1. Good regulation would have stopped that. but the Republican President did not want a Fed Cahairman who believed in regulation, and greenspan did not. another case of predatory de-regulation was when Powell, as head of FCC, tried to take off limits on multiple-ownershiop and other advantages to the big guys in the media. He and his gOP colleagues opened the door to mroe monopolies. when government has the power to regulate, and does not regulate, but instad opens up advantages to the already big and strong, they will take those advantages and run with them. and when Paulson used his powers to not rescue Lehman Brothers, but rescue Godlman sachs and AIG and bear stearns, etc, he was playing favorites too. I jsut think that the old term "damned if we do, and damned if we don't" applies. either way, the powerful and greedy will find a way to get their way. The ron Paul model is based on a foolish assumption - that man is somehow different from nature, and not "red in tooth and claw," when he gets the chance - with or without governmetn, with or without capitalism, with our without socialism, whatever. I am not even optimsitic that the way I favor will work, because I think it is like water running downhill - the greedy special itnerests will always find a way around any attempt to stop them from taking advantage of people. My ideology is lots more pessimsit than anything else. I think you are over-optimistic about the nature of mankind, unfettered. There are nasty, brutal crooks around, who will find their way round any system!
progressive

Lamoni, IA

#21 Aug 23, 2009
but at least you are almost entirely substantive, philsophical, ideological, and not some crappy insulting obscene liar, so i still like a discussion with you, and think you are a not bad person~! that was to local boy - an acquaintance from the Minnesota site a whole year ago.

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