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US central bank chief warns of possible recession
US central bank chief warns of possible recession
In remarks to US lawmakers, Bernanke said the economy has weakened since the Fed's latest outlook prepared in January, meaning a contraction is likely.

Really? We knew this 6 months ago, and we're paying this asshat's salary??? picked by leehblanc 2 years ago
tags recession Fed central bank bernanke
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34
 dollylla...
2 years ago
Bernanke is just another puppet of this administration. Why do you think Greenspan quit? Because he can't be bought off. Greenspan may not have been able to stop this, but he'd tell it like it is, in fact he has. i.e. he quit, but he didn't keep quiet.

This administration is afraid to tell the truth about anything, mostly because it would expose the dark underpinnings of their own misdeeds...in fact, I'd go so far as to say almost exclusively because it would.

But, I'm not telling you anything you don't already know, am I?
quote #2
14
 ImNotBlu...
2 years ago
« dollyllama : Bernanke is just another puppet of this administration. Why do you think Greenspan quit? Because he can't be bought off. Greenspan may not have been able to stop this, but he'd tell it like it is, in fact he has. i.e. he quit, but he didn't keep quiet.

This administration is afraid to tell the truth about anything, mostly because it would expose the dark underpinnings of their own misdeeds...in fact, I'd go so far as to say almost exclusively because it would.

But, I'm not telling you anything you don't already know, am I?
Where do you get this stuff? I mean, the conspiracy theories… are they written down somewhere, or do you just make them up as you go along?!

First off, Greenspan was 79 when he left the job… and had been doing it for almost 20 years… the second longest tenure in that position’s history (William McChesney Martin, Jr. did it for 21 years, from 1951 to 1970, but was only 64 when he retired… incase you were wondering). I’m sure that had something to do with his departure, no?

Secondly, he was hated by many on the left. In 2005 Democratic Senate Minority Leader Harry Reid said he was "one of the biggest political hacks we have here in Washington..." Sure, after he retired he criticized the spending habits of the current Bush Presidency, but do remember, most of the policies he had originally approved and participated in. He himself had trouble with the “housing bubble” notion. So I don’t know how you figure he was “standing up” to Bush.

Thirdly, if he was so determined to “stand up” to Bush, why would he leave a position of power and publicity, for virtual anonymity? Would it make more sense to stay in the position, and fight in front of the cameras… instead of away from the spotlight?

Fourth, Bernanke is seen as being LESS political than Greenspan. Here’s a quote from Wiki:
He is believed to be less ideologically rigid than Alan Greenspan and has been reluctant to weigh in on political issues. For example, while Greenspan publicly supported President Clinton's deficit reduction plan and the Bush tax cuts, Bernanke, when questioned about taxation policy, said that it was none of his business, his exclusive remit being monetary policy, and said that fiscal policy and wider society related issues were what politicians were for and got elected for.
And lastly, if he is such a “puppet” why was he approved by the Senate Finance committee by a 19-1 vote? Here’s a quote from the Washington Post:
The 20-member committee approved the nomination by a voice vote in executive session, with only one dissenting "nay." The lone opponent was Sen Jim Bunning (R-Ky.), a Greenspan critic who complained that Bernanke has not demonstrated independence from the outgoing Fed chairman. Fourteen of the committee's members (eight Republicans and six Democrats) were present for the vote, a committee spokesman said.
So he had bipartisan support! And then went on to be approved by the Senate!


Yeesh… I don’t know where you get these things from! They’re interesting theories, but I’m afraid they’re just not based in reality.
quote #3
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