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Bernanke still FIDDLING as the US is BURNING
leevardi
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7-27-2009 10:16 PM
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/76faf713-6bed-48d1-9324-3f5dc08d908c/78BEB64C-69A0-4AA7-86E7-97C98F261C56/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://market-ticker.org/" href="http://market-ticker.org/" style="font-size: 11px;">market-ticker.org</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://market-ticker.org/"><H4 class="serendipity_title"><A href="http://market-ticker.org/archives/1263-Bernanke-Dissembles;-The-Economy-Burns.html">Bernanke Dissembles; The Economy Burns</A></H4></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://market-ticker.org/"><P>“The problem we have is that in a financial crisis, if you let the big firms collapse in a disorderly way, it will bring down the whole system,” Bernanke said today at a town- hall-style meeting in Kansas City, Missouri, taped for broadcast on PBS television this week. “I was not going to be the Federal Reserve chairman who presided over the second Great Depression.” </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://market-ticker.org/"><P dir="ltr">No Ben, the problem we have is that when you fail to do <STRONG>your job</STRONG> for the entirety of the time you have it, that is, policing the safety and soundness of the banking system, putting a stop to predatory, impossible-to-pay loans such as OptionARMs and ridicuous commercial real estate lending, blatantly false and "bought" ratings and every other manner of credit pumping, you find yourself sitting on the precipice of implosion - which you then used to justify even more idiotic credit creation and lies.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://market-ticker.org/"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/market-ticker.org/img/0CA4015D-323D-40D2-A47A-85222A1AF723" alt="" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://market-ticker.org/"><P dir="ltr">Let's face reality right here:</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/78BEB64C-69A0-4AA7-86E7-97C98F261C56/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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