Senate Confirmation Hearing For Ben Bernanke 12-3-09

(0:28) "Here we were at a time when we now, looking back, all the signs were so blatantly clear. And yet, in conducting its supervisory capacity within the Fed, it failed terribly at giving us the kind of warnings that we should have had as a country of where we were headed." -Sen. Chris Dodd (D-CT)

(0:43) "While keeping interest rates low for a protracted period of time, the Fed appeared remarkably unconcerned with the possibility of igniting a financial crisis by inflating a housing price bubble, which ironically led to the same result, a violent financial crisis and a fire-sale of assets." -Sen. Richard Shelby (R-AL)

(1:16) "Over the past two years, our nation, indeed the world, has endured the most severe financial crisis since the Great Depression. A crisis which in turn created a sharp contraction in global economic activity. Today, most indicators suggest that financial markets are stabilizing and that the economy is emerging from the recession." -Ben Bernanke, Federal Reserve Chairman

Category:

News & Politics

Tags:

• Chris Dodd
• Richard Shelby
• Ben Bernanke

[libertyeconomics]

AMEN!  The REAL issue is PREDATORY BORROWING! Particularly, the borrowing done by the biggest sub-prime borrower of all: the U.S. Congress.

[libertyeconomics]

We need to get a handle on predatory borrowing!

[rumco]

Dodd you traitor!