Saturday, January 23, 2010


WASHINGTON — After a full-scale mobilization, White House and Senate officials expressed confidence on Saturday that they had successfully contained a populist uprising among Democratic senators that had threatened President Obama’s nomination of Ben S. Bernanke to a second term as the Federal Reserve chairman. Heard that before.

WB7: Don't you love the way everything gets derided as a "populist uprising."  What is the trouble with Ben Bernanke? He did such a marvelous job of saving the world from financial disaster. he is such an expert on financial disaser control. No?

Pllllllllease. He stood by an watched as the subprime avalanche developed. He helped design the rescue of Bear Stearn's, which encouraged Wall Street to believe it would be rescued when the securitized shit hit the fan. He was Geithner's boss during AIG-gate. He continues to advocate methods for dealing with the next 2big2fail disaster scenario instead of worrying about how to seriously reform a system afflicted with a serious case of FUBAR.

He should be the heavy coming down on the banks for screwing the world up.

If given a choice would you choose a scholarly expert on the Great Depression whose main agenda is protected the Fed's turf or a guy like Steiglitz who is outspoken on what went wrong on Wall Street and what needs to be fixed?

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