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 Mnboardin
Stranger
Registered: 04/01/09
Posts: 767
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 Ben Bernanke: Yay or Nay 
#11580187 - 12/03/09 09:27 PM (14 years, 4 months ago) |
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So, what say you?
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 joshisstoned
Motorcycle Enthusiast
Registered: 05/24/09
Posts: 3,544
Loc: Ohio
Last seen: 9 years, 8 months
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Re: Ben Bernanke: Yay or Nay [Re: Mnboardin]
#11580217 - 12/03/09 09:31 PM (14 years, 4 months ago) |
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He should have acted sooner when he saw that the interconnected web of insurance giants and banks (lehman bros. behr stern) were tanking. And they should have definitely stopped the monoploy that these huge conglomerations had by getting into bed with each other. they set themselves up like dominoes to be fallen. He just should have acted sooner.
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JT
Registered: 02/28/07
Posts: 7,027
Loc: athens 
Last seen: 4 years, 9 months
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i don't trust him. he consistently petitions against public transparency with the fed while demanding more power. as the head of the reserve, he also failed to react to several early warning signs of the economic meltdown.
on the other hand, he is a very bright economist and has been at the forefront of the crisis. he perhaps has the most first hand knowledge of the fed's recent dealings, and with the zero percent interest rates right now the economy is in a very delicate balance. no one can say whther his current plan will bring us out of the recession or not...but unless someone revolutionary is poised to take his place, it is just as much a gamble to make someone else the head of the fed. it's not exactly an enviable position right now..
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Annapurna1
liberal pussy
Registered: 05/21/02
Posts: 5,646
Loc: innsmouth..MA
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Re: Ben Bernanke: Yay or Nay [Re: JT]
#11581059 - 12/03/09 11:53 PM (14 years, 4 months ago) |
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i say thee ..NAY!!...
and BTW..the federal reserve system is the reason why we have to fight oil wars too...
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zorbman
blarrr
Registered: 06/04/04
Posts: 5,952
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Re: Ben Bernanke: Yay or Nay [Re: Mnboardin]
#11581677 - 12/04/09 02:26 AM (14 years, 4 months ago) |
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Dissolve it.
A secretive and unaccountable institution such as the so-called Federal Reserve is incompatible with a healthy democratic society.
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“The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.” -- Rudiger Dornbusch
Edited by zorbman (12/04/09 03:32 AM)
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The Ecstatic
Chilldog Extraordinaire
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Re: Ben Bernanke: Yay or Nay [Re: zorbman]
#11581791 - 12/04/09 02:59 AM (14 years, 4 months ago) |
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dissolve the Fed.
Its about time someone knocked over that house of cards.
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Seuss
Error: divide byzero
Registered: 04/27/01
Posts: 23,480
Loc: Caribbean
Last seen: 2 months, 7 days
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Get rid of Bernanke. Regardless of it being his fault or not, the current economic meltdown happened on his watch.
I don't want to see the Fed done away with, but I do want them to be transparent to the public that they serve. Anybody that stands in the way of transparency, such as Bernanke, needs to go.
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Just another spore in the wind.
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fireworks_god
Sexy.Butt.McDanger
Registered: 03/12/02
Posts: 24,855
Loc: Pandurn
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Re: Ben Bernanke: Yay or Nay [Re: Seuss]
#11584455 - 12/04/09 03:14 PM (14 years, 4 months ago) |
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Quote:
Seuss said:
Regardless of it being his fault or not, the current economic meltdown happened on his watch.
Regardless? I'm interested in hearing the logic behind why he should be removed regardless of personal responsibility for the occurence.
Quote:
I don't want to see the Fed done away with, but I do want them to be transparent to the public that they serve. Anybody that stands in the way of transparency, such as Bernanke, needs to go.
To which extent would you prefer them to be transparent?
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If I should die this very moment
I wouldn't fear
For I've never known completeness
Like being here
Wrapped in the warmth of you
Loving every breath of you
  
 
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fireworks_god
Sexy.Butt.McDanger
Registered: 03/12/02
Posts: 24,855
Loc: Pandurn
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Quote:
The Ecstatic said:
dissolve the Fed.
Its about time someone knocked over that house of cards.
How is the Federal Reserve a "house of cards"? 
What do you personally feel would be the suitable alternative to not having the Federal Reserve?
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If I should die this very moment
I wouldn't fear
For I've never known completeness
Like being here
Wrapped in the warmth of you
Loving every breath of you
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Seuss
Error: divide byzero
Registered: 04/27/01
Posts: 23,480
Loc: Caribbean
Last seen: 2 months, 7 days
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> I'm interested in hearing the logic behind why he should be removed regardless of personal responsibility for the occurence.
Because he did nothing to prevent it and should have seen it coming. Because he has had plenty of time, and support, to change Wallstreet's behavior, and has done nothing. He may not have be responsible for 'pushing the button' that caused the meltdown, but in his position he should have seen it coming and tried to make changes before the meltdown became a problem. He didn't, or any changes he made were impotent, therefore he deserves to be fired.
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Just another spore in the wind.
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zappaisgod
horrid asshole
Registered: 02/11/04
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Re: Ben Bernanke: Yay or Nay [Re: Seuss]
#11585270 - 12/04/09 05:33 PM (14 years, 4 months ago) |
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I believe he did see it coming, warned Congress and was poo-pooed by the likes of Barney Frank and Chris Dodd. The Fed Chairman does not write shitty legislation like the CRA nor does he create idiotic agencies like the FM twins that should not exist in a free society.
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iPhonesRule
Stranger
Registered: 11/20/09
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Re: Ben Bernanke: Yay or Nay [Re: zappaisgod]
#11585797 - 12/04/09 06:54 PM (14 years, 4 months ago) |
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Good to see such a high number of End the Fed votes
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Seuss
Error: divide byzero
Registered: 04/27/01
Posts: 23,480
Loc: Caribbean
Last seen: 2 months, 7 days
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Re: Ben Bernanke: Yay or Nay [Re: zappaisgod]
#11586163 - 12/04/09 07:45 PM (14 years, 4 months ago) |
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> I believe he did see it coming, warned Congress and was poo-pooed by the likes of Barney Frank and Chris Dodd.
Then why not start warning banks, investors, or anybody that will listen? Instead, he continued the status quo, with wallstreet basking in their glory as their golden goose slowly strangled itself. Chris Dodd and Frank Barney are certainly responsible, along with many others (Clinton, Carter, etc). Unfortunately, in my mind at least, Bernanke was supposed to be the check against their stupidity. In this, he failed. For this, he should go. To prevent this from happening again, the Fed should be open to public audit.
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Just another spore in the wind.
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Mnboardin
Stranger
Registered: 04/01/09
Posts: 767
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Re: Ben Bernanke: Yay or Nay [Re: Seuss]
#11586346 - 12/04/09 08:10 PM (14 years, 4 months ago) |
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Quote:
Seuss said:
> I believe he did see it coming, warned Congress and was poo-pooed by the likes of Barney Frank and Chris Dodd.
Then why not start warning banks, investors, or anybody that will listen? Instead, he continued the status quo, with wallstreet basking in their glory as their golden goose slowly strangled itself. Chris Dodd and Frank Barney are certainly responsible, along with many others (Clinton, Carter, etc). Unfortunately, in my mind at least, Bernanke was supposed to be the check against their stupidity. In this, he failed. For this, he should go. To prevent this from happening again, the Fed should be open to public audit.
A public audit would be an end of the Fed as we know it...
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zorbman
blarrr
Registered: 06/04/04
Posts: 5,952
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Re: Ben Bernanke: Yay or Nay [Re: Mnboardin]
#11586418 - 12/04/09 08:22 PM (14 years, 4 months ago) |
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Quote:
A public audit would be an end of the Fed as we know it...
Which is why Ron Paul is wise in not pushing a bill to outright dissolve the Fed but instead calling for an audit.
The audit will trigger dissolution the same way turning on the lights removes cockroaches.
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“The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.” -- Rudiger Dornbusch
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Statisticons_win
Stranger
Registered: 03/20/09
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Re: Ben Bernanke: Yay or Nay [Re: zorbman]
#11586445 - 12/04/09 08:25 PM (14 years, 4 months ago) |
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as far as the Fed reserve being open mouthed...
remember how the markets used to fluctuate with just barely a nod in any given hit of a direction one way or another under greenspan.
The Fed keeps its motuh closed because it is the only way to ensure that proper measurements of economic activity are gathered. They can't be like, well we are gonna do this, and then we are gonna do that. they would lose all control of economic behaviour and render themselves obsolete and ineffective.
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Mnboardin
Stranger
Registered: 04/01/09
Posts: 767
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Re: Ben Bernanke: Yay or Nay [Re: zorbman]
#11586474 - 12/04/09 08:29 PM (14 years, 4 months ago) |
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Quote:
zorbman said:
Quote:
A public audit would be an end of the Fed as we know it...
Which is why Ron Paul is wise in not pushing a bill to outright dissolve the Fed but instead calling for an audit.
The audit will trigger dissolution the same way turning on the lights removes cockroaches.
I have a feeling that there are people who will not give up the Fed without a very tough fight. Nicholas Biddle sure didn't go down without a fight.
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Edited by Mnboardin (12/04/09 08:37 PM)
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RationalEgo
Principium Individuationis
Registered: 06/15/09
Posts: 2,122
Loc: Boston
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Re: Ben Bernanke: Yay or Nay [Re: Mnboardin]
#11586758 - 12/04/09 09:06 PM (14 years, 4 months ago) |
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Whoever supports the FED needs a few lessons in economics and freedom. Since when is a central bank a pillar of a free society? How the hell can anyone predict to ANY degree of accuracy what interest rate to set? How does printing endless amounts of paper currency help anything?
The FED only does harm and has no place in a free society.
Case Fucking Closed.
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Statisticons_win
Stranger
Registered: 03/20/09
Posts: 2,372
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Re: Ben Bernanke: Yay or Nay [Re: RationalEgo]
#11586848 - 12/04/09 09:17 PM (14 years, 4 months ago) |
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first of all the feds don't decide to print money, the Treasury Dept does. And when Marx suggested that control of money was a staple of a socialist economic structure he was refering to the government as a mechanism to control income. Or peoples ability to aquire monies.
The federal reserve in no way prohibits freedom.
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RationalEgo
Principium Individuationis
Registered: 06/15/09
Posts: 2,122
Loc: Boston
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Quote:
Statisticons_win said:
first of all the feds don't decide to print money, the Treasury Dept does.
Your point being? I never suggested otherwise. It is still completely immoral.
Quote:
And when Marx suggested that control of money was a staple of a socialist economic structure he was refering to the government as a mechanism to control income. Or peoples ability to aquire monies.
If you control the money supply, you control the value of the currency, and that Sir directly impacts income.
Quote:
The federal reserve in no way prohibits freedom.
Does theft through devaluation destroy freedom?
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