Thread: Bernanke Blames Weak Regulation for Financial Crisis

Monday, January 04, 2010

Ben Bernanke Looks In Mirror, Sees Barney Frank

Fed chairman Ben Bernanke is back at it again, pointing the crisis finger at everyone but himself. To be sure there are plenty of congressional clowns deserving of a Babe Ruth style "big point", but the biggest point belongs straight at himself.

Please consider Bernanke Blames Weak Regulation for Financial Crisis. http://www.nytimes.com/2010/01/04/busin ... 04fed.html

Regulatory failure, not lax monetary policy, was responsible for the housing bubble and subsequent financial crisis of the last decade, Ben S. Bernanke, the Federal Reserve chairman, said in a speech on Sunday.

“Stronger regulation and supervision aimed at problems with underwriting practices and lenders’ risk management would have been a more effective and surgical approach to constraining the housing bubble than a general increase in interest rates,â€

Why doesn't Bernanke admit the real reason for the financial problems. His employer, the Federal Reserve, and Congress.

Originally Posted by Hylander_1314

Why doesn't Bernanke admit the real reason for the financial problems. His employer, the Federal Reserve, and Congress.

Because they still think we aren't paying attention.

Originally Posted by Ratbstard

Originally Posted by Hylander_1314

Why doesn't Bernanke admit the real reason for the financial problems. His employer, the Federal Reserve, and Congress.

Because they still think we aren't paying attention.

I know what'cha mean. I know what'cha mean.

Trouble is, there are still too many people asleep at the wheel, or they just don't want to know. I sure hope they don't wait to realize what's happenning until they are getting loaded at gunpoint on to cattle cars.