What they really need to do is scrap the unconstitutional and illegal private, debt-inducing banking cartel so this guy and all like him are out of a job (like 20 million other Americans)!
"Vt. senator moves to stall Bernanke confirmation" by Edmund L. Andrews, New York Times | December 3, 2009
WASHINGTON - Senator Bernard Sanders of Vermont said yesterday that he would try to block the Senate from confirming Ben Bernanke to a second term as chairman of the Federal Reserve.
The move is unlikely to derail Bernanke’s reappointment, but it could slow the confirmation process and give the Fed’s critics additional opportunity to press their case. As a practical matter, it means Senate Democratic leaders will have to line up 60 votes in favor of Bernanke rather than a simple majority at a time when the Federal Reserve is under increasing populist attacks from lawmakers on both the right and the left....
FOR GOOD REASON!!!
Sanders, an independent and not a member of the Senate banking committee, has frequently accused the Fed of bailing out Wall Street firms and the banking industry at the expense of ordinary citizens. Sanders said he would place a hold on Bernanke’s nomination when it reached the Senate floor. Under Senate rules, lawmakers would need to amass 60 votes to override Sanders and proceed with a vote on the nomination. Bernanke probably has enough support in both parties to clear the 60-vote hurdle.
Related: Who REALLY Runs Washington
And Bennie's there man!
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Related:
"Bernanke’s confirmation doesn’t appear in doubt. Senator Christopher Dodd, chairman of the panel, predicted Bernanke will win confirmation."
"House panel approves strict curbs on financial institutions; Black caucus urges more minority aid" by Jim Kuhnhenn, Associated Press | December 3, 2009
WASHINGTON - House Democrats cleared a crucial hurdle yesterday in their drive to expand the government’s power over Wall Street even as black lawmakers warned that they would use their votes as leverage to secure more economic aid to African-American communities.
Related: Ron Paul Audit Bill Blocked By Barney Frank and Blacks
The House Financial Services Committee voted to slap new restraints on big Wall Street institutions and to demand greater openness from the Federal Reserve, setting the stage for final passage next week on a broader and sweeping piece of regulatory legislation. The committee approved the measure 31 to 27 along party lines. The 10 members of the Congressional Black Caucus on the panel, all Democrats, boycotted the vote.
“Since last September, we have continuously voted for bailout and reform for the very institutions that created this devastation, without properly protecting the African-American community or small business,’’ Representative Maxine Waters, Democrat of California, said at a post-vote news conference. “That stops today.’’
So SELFISH INTERESTS are MORE IMPORTANT than an AUDIT of the SAME FORCES behind THOSE PROBLEMS you just mentioned?
Related: California Bank of Waters
Slow Saturday Special: MIC Captures Marcy Kaptur
Shut up, Maxine!!!!
Waters said black caucus members have had to educate Obama administration officials and the White House inner circle about the struggles in African-American communities, where unemployment far exceeds the already high national average....
Oh, THAT is RICH, isn't it?
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"White House listens to proposals for creating jobs
WASHINGTON - Black House members are so angry that they boycotted a committee vote yesterday on a key component of the administration’s overhaul of regulations governing Wall Street, and the Congressional Black Caucus warned that they must see progress on help for the jobless in African-American communities before they can be counted on to support the overhaul....
So it is OKAY for THEM to be ANGRY over SELFISH REASONS -- but if you are against health care and show up at a town hall you are a "hater!"
But hey, the important thing is the BILL GOT THROUGH!
"Audit the Fed: Bernanke and the Bankers Are Running Scared
Kurt Nimmo
Infowars
November 28, 2009
Ben Bernanke, Federal Reserve mob boss, is running scared. He is deathly afraid an audit of his criminal organization.
“These measures are very much out of step with the global consensus on the appropriate role of central banks, and they would seriously impair the prospects for economic and financial stability in the United States,” Bernanke wrote in the CIA’s favorite newspaper, The Washington Post.
Bernanke penned his tribute to central banking and globalism prior to his scheduled testimony before a Senate panel on his renomination to serve a second four-year term as Fed mob boss.
Bankster tool Barney Frank, chairman of the House Financial Services Committee, tried to derail an effort to audit the Fed but failed. A proposal to audit the Fed’s monetary policy deliberations won a committee vote recently over Frank’s objections.
In his Mockingbird media editorial, Bernanke “conceded the Fed had missed some of the riskiest behavior in the lead up to the crisis. But he said the Fed had helped avoid an even more damaging economic meltdown and has stepped up its policing of the financial system.”
In fact, the Fed was specifically designed to create financial crises. It was all plotted in 1910 when minions of J.P. Morgan, John D. Rockefeller, the Rothschilds and Warburgs met on Jekyll Island off the coast of Georgia. In 1913, the U.S. Federal Reserve Bank was created as a direct result of that secret meeting. Said Congressman Charles Lindbergh on the midnight passage of the Federal Reserve Act: “From now on, depressions will be scientifically created.”
In order to scientifically create an economic depression, the Fed prompted irresponsible speculation by expanding the money supply sixty-two percent between 1923 and 1929. The so-called Great Depression followed. This depression “was not accidental. It was a carefully contrived occurrence,” declared Congressman Louis McFadden, Chairman of the House Banking Committee. “The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all.”
In March of 1929, Paul Warburg issued a tip that the scientifically created crash was coming. Before it did, John D. Rockefeller, Bernard Baruch, Joseph P. Kennedy, and other banksters got out of the market.
A few years later, the banksters and their minions met in Bretton Woods, New Hampshire, and plotted the creation of the International Monetary Fund and the World Bank. The purpose of these two criminal organizations was to set-up a global Federal Reserve system and wage economic warfare on billions of people. The weapon they used was debt and the loss of sovereignty that follows.
In 1971, then president Nixon fit one of the last pieces into the puzzle — he signed an executive order declaring that the United States no longer had to redeem its paper dollars for gold. It was a great day for the banksters and the global elite. The gold standard ensured predictability and regularity in the economy and the banksters wanted to put an end to that. For the bankers, order and control is realized out of chaos and misery.
Fast-forward to the present day. Bernanke’s Fed has meticulously sabotaged the economy in order to create a crisis in classic Hegelian fashion. The corporate media tells us the crisis is the result of ineptitude and mismanagement at the Federal Reserve. Au contraire. Like the Great Depression, the even Greater Depression now on the horizon was scientifically created.
The Fed is the primary instrument the bankers are now using to destroy the middle class, hand over all public assets and resources to them, implement a crushing austerity, usher in a new era of global corporatist feudalism and build a sprawling planet-wide slave plantation based on China’s totalitarian model.
It is the ultimate dream of the banking cartel. It will be used as the foundation to build world government. Destroying the dollar as the world’s reserve currency is only the beginning.
Bernanke knows Ron Paul and the audit the Fed movement are extremely dangerous. That’s why he is pushing this facile “oops” theory. In order to fix things, the Fed will use its “knowledge of complex financial institutions” in order to supervise them, he writes in his Mockingbird editorial. Allowing audits of Federal Reserve monetary policy would increase the perceived influence of Congress on interest rate decisions, he says.
No, it would lay bare the criminality of the Federal Reserve. Maybe Bernanke is worried he will be obliged to wear an orange jumpsuit in the wake of an audit.
As for Congress, Bernanke needs to read Article 1, Section 8 of the U.S. Constitution. Congress shall have exclusive power to “coin Money, regulate the Value thereof,” not a criminal cartel of monopoly men who dream of a prison planet.
--MORE--"That's why Bernanke threatened the money supply:
"Fed set to pull back money; Nation’s bank plans to sell its own securities" by Jeannine Aversa, Associated Press | December 1, 2009
WASHINGTON - The Federal Reserve is fine-tuning a strategy to reel in some of the unprecedented amount of money that has been pumped into the economy during the financial crisis.
The Federal Reserve Bank of New York said yesterday that investors and others shouldn’t conclude anything about when the central bank will reverse course and start boosting interest rates and removing other supports to fend off inflation. The upcoming operations will involve so-called reverse repurchase agreements.
Please, no more swaptions or derivatives!
That’s when the Fed sells securities from its portfolio, with an agreement to buy them back later.
That sounds to me like a SHELL GAME!!!
Reverse repos are one tool the Fed can use to drain some money it has plowed into the economy to ease financial troubles. The operations will be extremely small and won’t affect the Fed’s key interest rate, officials said. They wouldn’t say what the amount for the operations would total.
Yeah, WE NEED THAT AUDIT!
Fed officials also said they didn’t know when the first operation would be conducted and how many there would be.....
Then they are LIARS!!!!
Man, is THAT AUDIT EVER NEEDED!!!!!
They don’t “represent any change in the stance of monetary policy, and no inference should be drawn about the timing of any change in the stance of monetary policy in the future,’’ the New York Fed said. The operations were designed to “have no material impact . . . ’’
Does THAT GIBBERISH make sense to you?the Fed said.
Yeah, we are GOING TO DO SOMETHING, NOT TELL YOU WHAT IT IS, and DON'T WORRY, it WILL NOT AFFECT ANYTHING!!!
How many times do you TRUST a LIAR?
Reverse repos have been in the Fed’s toolkit for years as a way to mop up money in the economy and most recently were used in December 2008, the Fed said.
So WHY DIDN'T IT WORK?
This time, though, the Fed is considering selling its securities to a broader set of investors - beyond the traditional big primary securities dealers such as Banc of America Securities, Citigroup Global Markets, and JPMorgan Securities. Fed chairman Ben Bernanke has said large-scale reverse repos can be done with banks, Fannie Mae and Freddie Mac, and other institutions.
Oh, so NOW they want to STICK TAXPAYERS with the BILL!!!!
See: Goldman's Gets Tax Credit For Sticking It In America's Fannie
Lying Looters Large and Small: The Fannie-Freddie Family
Taxpayers Take Profits on Bailout
Yeah, SURE WE ARE!!!
Some analysts have said they might involve money market mutual funds. Yesterday’s statement, though, said the upcoming operations will be conducted with the big primary securities dealers.
To foster the recovery, the Fed earlier this month decided to leave a key bank lending rate at a record low near zero and pledged to hold it there for an “extended period.’’Translation: They can't lower it anymore.
Don't you love the deceptive MSM spin?
Many economists predict rates will stay at such low levels through this year and part of next year.
Those the same "experts" that have been "unexpectedly wrong" all this time?
--more--"
Also see:
Bernanke Says F*** the Buck
Black Sunday: Bernanke's Blackmail
But you made a PROFIT, the paper tells us!
"US may recover most TARP loans" by Jackie Calmes, New York Times | December 7, 2009
WASHINGTON - The Treasury Department expects to recover all but $42 billion of the $370 billion it loaned to ailing companies during the financial crisis last year, with the portion loaned to banks showing a slight profit, according to a Treasury report.
Yup, you are LOSING on the "deal" -- even though the BANKS made a PROFIT for you!
See: Government Can't Add When it Comes to Goldman Sachs
Yeah, the LIES NEVER STOP, do they, NYT?!!!!
Government could ultimately lose another $100 billion from the bailout program, if big banks need more loans or if the $700 billion TARP fund is extended to help small businesses or to avert home foreclosures.
Yeah, the DEBT will be YOUR FAULT, American.... IF!!!
You have WAITED OVER a YEAR for that IF!
Related: GM Runs Out of Gas on America
Geithner Thanks Goldmans For Buffett
There is ANOTHER $200 BILLION you will NEVER SEE!
Of course, the government’s potential losses extend beyond the Treasury’s bailout program. The Federal Reserve, for example, still holds a trillion-dollar portfolio of mortgage-backed securities whose market value is unknown.
No, but you SURE CAN SMELL what it is worth!
They HOLDING THAT OFF-BOOK for now, huh?
Yeah, I LOVE THOSE AFTERTHOUGHT PARAGRAPHS of the NYT!
--more--"
WASHINGTON - Federal Reserve chairman Ben Bernanke warned yesterday that it’s too soon to know whether the economic recovery will last and again pledged to hold rates at record low levels for an “extended period.’’
When asked about rates, Bernanke joked, “Well, they can’t go much further down.’’
First of all, I do not find the destruction of the U.S. economy funny, and it can't go any lower because it is NEAR ZERO!
********************
Asked about prospects for such a “double dip’’ recession, Bernanke said he could not guarantee it won’t happen....
Related: Bernanke Says F*** the Buck
Yup, first he can't guarantee your dollar and now he can't guarantee the recovery he has been pimping!
And he's going to be RECONFIRMED?
ALL PART of the PLAN, folks!!
The Fed has warned that it could take five or six years for the job market to return to normal....
Do YOU have 5 or 6 YEARS, unemployed workers?
Think Congress will EXTEND BENEFITS THAT LONG?
Despite all the negative forces, consumers recently have shown their resilience and kept spending....
So HOW MANY BULLS*** BUSINESS LIES do you need to read in the Glob, huh?
The heavy pace of layoffs is slowing. Employers shed just 11,000 jobs last month, the fewest since the recession began two years ago. That helped push down the unemployment rate to 10 percent, from a 26-year high of 10.2 percent in October.
Yeah, LOSING MORE JOBS made the UNEMPLOYMENT RATE GO DOWN!!
How ORWELLIAN!!!!
Even as some senators vowed to block his confirmation, it appears Bernanke will be able to secure the votes necessary to be approved to another term.
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And about that SPENDING!
"Credit decline portends fall in spending" by Martin Crutsinger, Associated Press | December 8, 2009
WASHINGTON - Americans borrowed less for a record ninth straight month in October, another sign that consumer spending will remain weak, making it harder for the economy to mount a sustained rebound.
Yup, after all the lying and the looting and everything the Fed did to set you up for "recovery," YOU BLEW IT OUT-OF-WORK Americans!!!
Related: Consumers Cutting Debt Killed Recovery
Out-of-Work Americans Killed Economic Recovery
Slow Saturday Special: U.S. Consumers Killed Economic Recovery
And after the BANKSTERS had everything poised for a recovery!
Yeah, how is that working out?
Not too good, huh?
Many are finding it hard to get credit as banks, hit by the worst financial crisis since the 1930s, have tightened lending standards....
Yes, WHERE DID THOSE TRILLIONS of LOAN LIQUIDITY GO?
Answer: BANK PROFITS!
Some analysts said the smaller-than-expected decline in borrowing could be a sign that consumers are cautiously moving toward increased spending in some areas, which would be a good sign for the economy sign....
The MSM are SO HOPING and PRAYING!!
I was going to go out today when I voted, but I'm scrapping that now.
Yup, UP is DOWN, BLACK is WHITE, PEACE is WAR!
WHATEVER, MSM!!!
Although economists have worried for years about the low rate of US savings, the concern is that consumers could derail the recovery if they start saving too much of their incomes. Consumer spending accounts for 70 percent of total economic activity....
Yup, ALL YOUR FAULT if you LIVE WITHIN YOUR MEANS and DON'T BORROW MONEY from USURIOUS BANKS, America!!!!
Have you HAD ENOUGH of the MIXED MESSAGES and BULLSHIT?!
Consumers have been reluctant to spend in large part because the labor market has been so weak....
Didn't that article above say resilient consumers kept on spending?
So WHICH ONE is the LIE, MSM?!!!!
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