Wednesday, December 02, 2009

Hot Lights, A Pitcher Of Water

With Bernanke's confirmation hearing set for tomorrow morning, there's been a lot of posturing and teeth-gnashing from Congress and specifically from some members of the Senate Banking Committee. With a few notable exceptions, most of this isn't more than an obligatory nod to growing public outrage. But the bottom line is that Bernanke is now a known commodity; what you've seen is what you'll continue to get. That makes any senator voting in favor of his reappointment complicit in whatever happens during the next few years.

If this issue is important to you, contact members of the Senate Banking Committee, especially if you are a constituent. Here is a list of the committee's members, along with contact information. Some suggested questions for Bernanke are here, and send your own as well. I'll try to post some comments after the hearing.


Anonymous Anonymous said...

I have sent this along to Senator Schumer. Hopefully it will get some attention paid to it. If I ran my household in the same manner that Mr. Bernanke has run the Fed, my children would be in the street, starving! It offends me on such a deep level that our financial systems is being blithely mismanaged by these people who seem to think it is "not real money" that they are trifling with. Thank you for being such a courageous voice in the wilderness. I have learned much since I have begun following your blog and appreciate the care and concern you take to write to inform those of us with limited access to the financial world.

12/02/2009 3:22 PM  
Anonymous Anonymous said...

I am working through a couple of financial staffers to senators on the banking committee. If you don't already know, they both had copies of your questions. Even though they may be posturing just to placate the rabble, it doesn't hurt or take much time to let your feelings be known. After considering questions to ask, I thought it might be more effective to forego questions and take the 7-8 minutes to educate taxpayers. Start with reasons that brought the financial system to the brink of collapse in Sept. 2008, then document Bernanke quotes from most recent back to his confirmation. Point out that he never understood what was coming and that he and Greenspan were largely responsible for how could he possibly be qualified to understand now what he did not understand even six months before he was asked to prevent GD II?

12/02/2009 5:15 PM  
Anonymous Goldhorder said...

I am soooo sure that Chris "countrywide" Dodd is going to straighten this out for us. Lmao.

12/03/2009 3:06 PM  
Anonymous Anonymous said...

Here's the result of our efforts for anyone who hasn't seen the Bunning clip. Too bad the delivery couldn't have been better, but the truth is the truth, whatever the source or delivery.

12/04/2009 9:45 AM  
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