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Bernanke on sixty minutes

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  • Mon, Mar 16, 2009 - 04:28am

    #1

    investorzzo

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    Bernanke on sixty minutes

 You will notice 60 minutes never asks the hard questions about the Federal Reserve? Parts 1 & 2

http://www.cbsnews.com/sections/60minutes/main3415.shtml

  • Mon, Mar 16, 2009 - 04:59am

    #2
    Peak Prosperity Admin

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    Re: Bernanke on sixty minutes

[quote=investorzzo]

You will notice 60 minutes never asks the hard questions about the Federal Reserve? Parts 1 & 2

http://www.cbsnews.com/sections/60minutes/main3415.shtml

[/quote]

If they don’t ask the"hard questions", then why should I bother viewing this link? 

  • Mon, Mar 16, 2009 - 05:06am

    #3
    Peak Prosperity Admin

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    Re: Bernanke on sixty minutes

I would read Americans posts in response. It’s good to know that some watching aren’t fooled as to what is really happening. Read the comment section.

  • Mon, Mar 16, 2009 - 05:16am

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    Re: Bernanke on sixty minutes

OK

 

  • Mon, Mar 16, 2009 - 08:17am

    #5
    Peak Prosperity Admin

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    Re: Bernanke on sixty minutes

It’s one of the biggest puff pieces I’ve ever seen.  Clearly CBS is in on the game.  This was done to make it look like this good down-home guy is doing his golly gee darnedest to help us little folk, and look at him take some tough questions from the tough media making sure he’s accountable…

What a joke…actually it’s an outrage.  All this civilized chitter chatter like professional weasels at the Harvard Club makes me want to vomit.  Millions are going to starve around the world from what this organization has done.  Where’s the accountability?  Why not ask why they need a palace that rivals any that Saddam Hussein built?  Why not ask how the owners made so much money that in just 20 years they had the wealth to build such a building?  Why not ask how much money the Fed makes and ask about the private owners behind the regional Fed system?  Why not point out that all that money that makes the Fed live like royalty in palaces comes from our wallets in the form of taxes?  Why not ask "wow, nice building, clearly you guys are doing quite well while everyone else is on the verge of losing their homes, what gives?"  Why not say "this is a private bank, I was shocked, I’m sure everybody watching tonight thought you ran a government institution."  Why let him get off the hook when he asks "if the Fed’s responsible for oversight, why didn’t you stop this?" and Ole Ben says "uh, clearly we could’ve done better."  No shit you nimrod bureaucrat!  In fact, you guys were in on it…you’re the ones that flooded the markets with credit and inflated the .com bubble and the real estate super bubble!  Why should we listen to you now!?  How can you sit there knowing you and Greenspan set this entire thing up and now you want us to trust that you’re the people to fix it!?  And then I’d say like Michael Corleone says to Carlo before he has Clemenza strangle him in the car, "get out of my sight."

Sorry, I know that doesn’t fit the tone of this website.  But that’s the appropriate level of rage that should be directed at the Fed.  We rage like that at small criminals.  Why not the big ones?  The decorum we see on that video is purposeful…to numb people out into a brainwashed zombie state…"yes most masterful competent Ben, thank you for taking care of us."

And his outrageous lie that we stabilized the problem and things should recover in 2010 should be prosecuted.  He knows that’s not true.  But hey, it’ll help the market maintain the current bounce and give me a good chance to sell my last equities and maybe get a decent selling price for my house.Wink

  • Mon, Mar 16, 2009 - 10:28am

    #6
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    Re: Bernanke on sixty minutes

I think the "average" person watching Bernanke would believe what he had to say.  He seemed incredibly poised to me…. I won’t use some of Strabes’ "terms,"  but I had like some like thoughts.

Yesterday, I also watched Cheney on CNN, just so you know the financial crisis is due to the failure of Fannie and Freddie…. Eye roll.

Cat

  • Mon, Mar 16, 2009 - 11:27am

    #7
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    Re: Bernanke on sixty minutes

I think we all had similar feelings of rage at seeing the diminutive southern town and Main Street that Ben came from. This entire interview was pure propaganda and as Helicopter himself said, he wants to connect with the American people in this crisis so that he can have the political will to execute his plan. Blatant power grab and cheap PR stunt here. I was not fooled.

That FNM / FRE issue is still ingrained very deeply in some of the people that I talk with. They really, truly believe that our entire breakdown is just so simple as a couple of GSEs and some reckless loans. I wonder if anyone at CBS does read the comment section and realize that what their pushing is completely out of whack with what at least some of the people are understanding…

  • Mon, Mar 16, 2009 - 12:13pm

    #8
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    Re: Bernanke on sixty minutes

We watched it. All I can say is his voice cracking does not exude the confidence he exalts date wise with respect to recovery. I posted it and Rogoff’s video on the DG of the 16th as well.

IMHO I think Bernanke is towing the line, this admin wants to wish this away by putting a smiley face on it when they should be identifying it for what it is and they should have had a plan in place to deal with it.

And I thought Katrina was a botch job!

Ha. 

  • Mon, Mar 16, 2009 - 03:30pm

    #9
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    Re: Bernanke on sixty minutes

yep the smart people here are not fooled ………………….a couple of hundred maybe?

but the sheeple slept well last night under the comforting words of the shepherd. they awoke today and are putting more money in casino. 

cbs 60 minutes??????????

what conspiracy??????????????

oh yeah the dow is down 4000 points from where it was when mac said the fundamentals of the economy were sound.

he was excoriated in the msm

rohmer declares the same thing and not a whisper.

  • Mon, Mar 16, 2009 - 03:38pm

    #10
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    Re: Bernanke on sixty minutes

I noticed his voice cracking right away, he appears rattled to me just like Geither, and Lewis from B of A do in their interviews.  

The second part of the interview was pure propaganda, letting us know that Ben put on a funny costume to work at fast-food Mexican restaurant in his early South Carolina days.  Unfortunately, this is typical in the American news media, totally lacking in any objective journalism, but serving as a mouthpiece for the current administration.  You saw the same thing in the buildup to the invasion of Iraq. (i.e., Judith Miller at the New York Times)

A couple of interesting moments worth noting:

(1) His analogy in which he compared himself to a fireman putting out a fire caused by a neighbor who smokes in bed that was going to threaten all of our wooden houses. He says "I think we’d all agree, we’d put out the fire first, and then say ‘What punishment is appropriate?’"  In other words "We will all die if we don’t do what we’re doing right now."

Fire as a symbol is historically a "purifier and destroyer," interesting that he would choose an analogy that features fire. Secondly, without getting into some long discussion, how is this an analogy to the financial meltdown?  It didn’t feel right to me when I first heard it. 

(2) When asked "Are these banks solvent?" He answers "I believe they are, yes."  A high school newspaper reporter would have called him on that response.

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