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 Entire ArchiveBen Bernanke Items

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Rolling the Dice
Ben Bernanke's speech on Friday in Boston could turn out to be a real barnburner. In fact, there's a good chance the Fed chairman will announce changes in policy that will stun Wall Street and send tremors through Capital Hill.  Along with another trillion or so in quantitative easing,  Bernanke is likely to appeal to... Read More
Why They Should be Indicted
Is there enough evidence to indict Ben Bernanke and Alan Greenspan on charges that they aided and abetted the banks and other financial institutions in the sale of fraudulent loans to investors? That depends on whether there is sufficient proof to show whether the two men KNEW that the nation's lenders were engaged in large-scale... Read More
Bernanke and the Fat Cats
The reappointment of Fed chairman Ben Bernanke means that the opportunity for change has passed and the reform movement is dead. It means that and that derivatives trading, off-balance sheet operations, securitization, dark pools and high frequency trading will go on much as they have before. It means that the public will continue to be... Read More
Deepening Debt Crisis: The Road to Debt Peonage
If the economy deteriorates in the L-shaped “hockey-stick” rut that many economists forecast, what political price will President Obama and the Democrats pay for having returned the financial keys to the Bush Republican appointees who gave away the store in the first place? Reappointing Federal Reserve Chairman Ben Bernanke may end up injuring not only... Read More
Easy Money and the Housing Bubble
In an effort to defend himself against his critics, Fed chairman Ben Bernanke spent over 2 hours at the Annual Meeting of the American Economic Association in Atlanta trying to prove that low interest rates were not the main cause of the housing bubble. Here's an excerpt from Bernanke's speech: Bernanke is right in saying... Read More
Brace Yourself for a Hard Landing
Ben Bernanke has been a bigger disaster than Hurricane Katrina. But the senate is about to re-up him for another four-year term. What are they thinking? Bernanke helped Greenspan inflate the biggest speculative bubble of all time, and still maintains that he never saw it growing. Right. How can retail housing leap from $12 trillion... Read More
It's a Planned Demolition
Credit is not flowing. In fact, credit is contracting. When credit contracts in a consumer-driven economy, bad things happen. Business investment drops, unemployment soars, earnings plunge, and GDP shrinks. The Fed has spent more than a trillion dollars trying to get consumers to start borrowing again, but without success. The country's credit engines are slowing... Read More
Isn't Anyone Watching the Fed?
Fed Chairman Ben Bernanke is a man who knows how Washington works and uses that knowledge to great effect. His appearences on Capital Hill are always worth watching. He sits politely with his hands folded in front of him playing the bashful professor while one one preening congressman after another makes a fool out of... Read More
The Old Switcheroo
Federal Reserve boss Ben Bernanke is getting ready to pull another rabbit out of his hat and he's hoping no one figures out what he's up to. Here's the scoop; the Fed chief needs to "borrow up to $3.25 trillion in the fiscal year ending Sept. 30" (Bloomberg) without triggering a run on the dollar.... Read More
A Glide-Path to Destitution
Fed chief Ben Bernanke has embarked on a radical and ruinous financial rescue plan. According to Bloomberg News, the Fed has already lent or committed $12.8 trillion trying to stabilize the financial system after the the bursting of Wall Street's speculative mega-bubble. Now Bernanke wants to dig an even bigger hole, by creating programs that... Read More
On Trying to Inflate Four Truck Tires with a Turkey Baster
Ever since the two Bear Stearns hedge funds defaulted 17 months ago triggering a global financial crisis, the Federal Reserve has been busy putting out one fire after another. Fed chief Ben Bernanke has slashed interest rates to .25 per cent, handed out billions in emergency funding to teetering insurance companies and mortgage lenders, and... Read More
Slip Sliding Away Bernanke's Next Big Bail Out Plan
  The Federal Reserve is presently considering an emergency operation that is so risky it could send the dollar slip-sliding over the cliff. The story appeared in the Financial Times earlier this week and claimed that the Fed was examining the feasibility of buying back hundreds of billions of dollars of mortgage-backed securities (MBS) with... Read More
Bernacke, Rate Cuts and the "Greenspan Put"
Wall Street loves cheap money. That's why traders were celebrating on Tuesday when Fed chief Ben Bernanke announced that he'd drop interest rates from 5.25% to 4.75%. The stock market immediately zoomed skyward adding 336 points before the bell rang. The next day the giddiness continued. By mid-morning the Dow was up another 110 points... Read More
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