Ben Bernanke (Fed chairman) conducting 3 -part public forum in Kansas

United States
July 27, 2009 5:39pm CST
Jim Lehrer part 1 of 3 part forum w Fed chairman Ben Bernanke at Federal Reserve Bank of Kansas City WATCH FULL SHOW AT: newshour.pbs.org One audience member asks: "[If I can put it into metaphor] When you have a brush fire all bigger trees weeded out which allows all smaller growth to grow, why not the Fed?" BERNANKE: "[b]In a financial crisis, if you let the big firms collapse it will crush all the little ones. We interverned to protect the global community![/b] --what we need is a regulatory framework that would insure this doesn't happen, the President suggested the federal reserve overlook all financial Instituition's, we would modify bankruptcy code.....create an alternative where government can come in an cease the firm and run it in a way that would avoid any huge problems in financial markets." When asked why it looks as if small business doesnt matter by audience: BERNANKE: "All big businesses were once small too and we just want to preserve that..We need, we dont have--we need to have a structure, we have one for banks but we need one for all financial firms"
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2 responses
@xfahctor (14114)
• Lancaster, New Hampshire
28 Jul 09
It is almost amusing to watch the FED squirm and panic, knowing they're days may well be numbered. It's defenders are out in full force spewing nonsense, like Sen Lamar Alexander(R) Tn. "The audit? It’s a bad idea, It’s a sorry day when the Congress superimposes itself on the Fed, nosing around in monetary policy. It’s bad enough we are nosing around with the car companies." I have long held Bernanke should be investigated for his role in T.A.R.P. and that the fed should not only be audited, but out right ABOLISHED. Bernanke was perportedly involved in threats to certain congressional members of martial law if the bill was not passed. Doesn't get more stalinist that that does it folks.
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@xfahctor (14114)
• Lancaster, New Hampshire
28 Jul 09
"that expansion would be an incremental and natural extension of the Federal Reserve's existing supervisory and regulatory responsibilities, reflecting the important relationship between financial stability and the roles of a central bank." He said it all right there. No need to expose them, they expose themselves in plain sight with everything they do and say. Too bad we the sheeple are too apathetic to notice.
1 person likes this
• United States
29 Jul 09
yea, in light of all I have told my own bf he still insist, 'yea, but I just want to give him a chance'
@xfahctor (14114)
• Lancaster, New Hampshire
29 Jul 09
I love that line..."give him a chance". Give him a chance to what? be EVEN MORE like Bush?
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@dragon54u (31043)
• United States
28 Jul 09
HA! They need a structure that isn't driven by greed, that's what they need. They need to loan money only to those who can afford to repay and they need to tighten the requirements of getting a loan. They need to stress that people should not use credit for things they want, but save up for them. They need to tell people that they must live below their means and save money--that money in savings accounts can be used to invest in big and small businesses and thus grow our economy and create jobs. What's wrong with those people?! They've learned NOTHING from this economic disaster, they'll just keep on doing the same stupid things.
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