Bernanke 12 6 11 House Letter

Category: Bailouts, Federal Reserve, Think Tank

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

16 Responses to “Bernanke Letter to Congress re: Bloomberg Article”

  1. Is this normal? Meaning this PR offensive. I thought the Fed was supposed to be above politics.

  2. [...] US, Japan and India to meet to discuss China Bernanke Letter to Congress re: Bloomberg Article [...]

  3. super_trooper says:

    @PhilPerspective,
    No it’s not normal. However, the Fed has every right to present facts and correct errors stated in public. It just is not very convincing. I can’t walk my way through the data and comprehend how someone ends up with the fed having lent $7.7T rillions vs 1.5. Or allowed Banks to make $13 billions from this deal. Nor could the journalists (apparently), if what Ben stats is correct.
    This would have to be discussed more thoroughly and explaned much better considering that there MULTIPL report (not single instances).
    Ben just made the argument why the FED should be MUCH more transparent.

  4. number2son says:

    Right. So Bernanke won’t open the books and then whines when people draw obvious conclusions from what is public information? Cry me a river.

  5. squire says:

    So, in summary Ben “Obi-Wan” Bernanke : “These/we are’t the scapegoats your looking for.”

  6. VennData says:

    Love that “user-friendly” scrib format.

    Thanks for making it so difficult to cite Scrib-creators. Go create one more “great” product and go bankrupt, please.

  7. Singmaster says:

    That’s Ben Bernanke’s signature! Do any of you know handwriting analysis? Yikes!

  8. Singmaster says:

    That’s his signature? Amateur hand writing analyst says Yikes!

  9. bear_in_mind says:

    Me thinks thine (Bernanke) doth protest too much…

  10. theexpertisin says:

    Nice to hear from the Fed.

    Please write more often. We like to know what you are doing.

  11. Francois says:

    Dear Mr. Chairman BurntWinkie,

    If no program was kept secret from Congress and the American public, pray explain your ferocious resistance to any attempt at auditing your institution?

  12. [...] Fed chairman Ben Bernanke sent a letter to members of Congress complaining about "egregious errors and mistakes" made in recent news [...]

  13. MikeDonnelly says:

    Wow, singmaster and squire love it, funniest comments ever. SuperTrooper, Ron Paul thanks you.

  14. Steve Duncan says:

    And read Bloomberg’s response to Helicopter Ben’s BS Letter….

    http://www.bloomberg.com/news/2011-12-06/bloomberg-news-responds-to-bernanke-criticism.html

  15. Marc P says:

    For those wondering why Helicopter Ben is protesting so much, here’s a theory: misdirection.

    The far bigger program of gifts to the kleptobankers is in the form of buying CDOs at par value, when the true market value was far less. Ben knows that story is going to come out, someday. Let’s take a purely Machiavellian plan. The goal at this point will be to obscure, cast doubt, and throw around so many conflicting figures and technical terms that the public goes numb. When the CDO-purchases-as-handouts story hits the press, the public will think it is just more of the hyper-technical debate and turn their attention back to the Kardashians. Mission accomplished.

    Also remember that from the hyper-cynical point of view of the kleptobankers, these public debates, the Congressional testimony, and press shaming mean nothing. The only thing that counts is that they get to keep their bonuses. What you and I see as an unbearable public roast, they see as just a tough day at the office earning their pay. On the weekend they will helicopter to their waterfront home in the Hamptons and relax.

  16. victor says:

    When Louis Rukeyser (RIP) proposed that the Fed be replaced by a computer, I agreed. I still do.