Ben Bernanke on 'Occupy Wall Street' protest: I can't blame them

Ben Bernanke on 'Occupy Wall Street' protest: I can't blame them

www.rawstory.com

“Chairman, as you know, there are people demonstrating against Wall Street in New York City and other cities around the country, and I think the perception on the part of these demonstrators and millions of other Americans is that as a result of the greed, the recklessness and the illegal behavior on Wall Street, we were plunged into the horrendous recession that we’re in right now,” Sanders said at a Joint Economic Committee hearing on the economic outlook.

“Do you agree with that assessment?”

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Blah, blah, blah, blah... I am just so sick of all the talking heads rambling on and on and discussing this and that WITH ABSOLUTELY NO FRICKIN ACTION...

Yeah, I know, kudos to the guy for asking the question but really, Bernanke just says the same things over and over and over and then DOES the same things over and over and over...



www.rawstory.com
(visit the link for the full news article)

Is someone going to stand up and tell him that he is the one that contributed heavily to it?

If not, put me front and center and I will tell him.

I say give it time. Things have yet to come to a head. Hopefully they do.

One thing is for sure. This movement needs an ideological leader. Sort of like the young girl student in egypt who was shot in the leg.

cant blame them he says

they should be blaming him and GOVERNMENT POLIICIES!

but no no comon sense anywhere to be found as of late

do us all a favor ben quit and go hide somewhere

Originally posted by Skewed
Is someone going to stand up and tell him that he is the one that contributed heavily to it?

If not, put me front and center and I will tell him.

edit on 4-10-2011 by Skewed because: (no reason given)

well that less than guiltridden passionless statement ,is as close as we're ever going to get to a mia culpa

reply to post by MrsBlonde


I do not care if he ever admits fault or not.

If the citizens say he is at fault, then he is at fault.

Originally posted by neo96

cant blame them he says

they should be blaming him and GOVERNMENT POLIICIES!

but no no comon sense anywhere to be found as of late

do us all a favor ben quit and go hide somewhere

Agree with that. He should say... shame on me!, and FED, and goverment, and banksters, investors and so on.

Rabbi Ben has given his banker buddies trillions of dollars. He should be hung.

reply to post by neo96


Who do you think drives these policies? For you to continue, over and over, to attempt to completely separate Wall Street and Washington D.C. is either intentional disregard or naivete. Why are you so against a group of Americans exercising their right and duty to protest and demand change in a system they see for what it is - Greedy, corrupt, self serving, with no regard for you who so vehemently defends them! Instead of the constant criticism why don't you tell us what you would do to be more effective?

They chose a symbolic place, a connection you have apparently failed to see.

Notice the Chairman of the FRB is sitting before a congressional panel answering questions directly related to this protest? I'm not saying what if anything will come out of it, I can't see the future.. But take that into consideration and ask yourself again if these protesters are the idiots you claim.

Finally we managed to rail the train again after being derailed for so long,

The next question should be were did the 3-4 trillion "stimulus" money go to?

Why all the bankrupting wars and repeal of the glass steagel act?

"Government" has more responsibility in this then The Fed,

but The Fed runs the government,

so we are back to square one-the dog chasing its tail!

Its boring even for those who have to attend the meetings and pretend to care,

the guy playing with his mobile phone is pretty classic

The housing boom was just about governmental policy and regulation.

Interest rates were at least double of what they are now. For you to say that Ben B. gave way to the housing bubble is incorrect.

It was .gov policy. Influenced by money, no doubt. It was .gov regulation though.

Ben B. came to the scene far too late to have anything to do with that. It is more than likely a repercussion of Greenspan's low interest rate policy(ies). If you want to blame someone, I would start with him.

In every Fed meeting Ben B. criticizes the government for their lack of leadership etc.. You just have to watch one if full sometime and not grab soundbytes.

If you want to blame someone you should really blame YOUR ELECTED REPRESENTATIVES. They will do anything though to negate the flack and pass it right on the FRB ( or anyone else for that matter ). It is the true reality of the situation.

I am not a Fed sympathizer, but this is a better picture of the truth.

Kind of ironic that this guy is supposed to be some elite Great Depression scholar.. lol.

This is one of the most ironic ironies that i have seen in decades. You even have Ben cold calculated banker acknowledging that the American people have an legit reason to protest, but some individual-azz hats on ATS claiming that there is no reason and people who oppose said legislation are jokes.


Wow, either this countries propaganda is working really really well, or we have one ignorant mass

I stand on the fence and throw stones per se on this irony

This just goes to show how little faith he and the rest of the "talking heads" have in their system. They are letting it crumble like humpty dumpty and with no plan on picking up the pieces.

But, should we ask them to or should we figure out a way to rebuild our own house?

I too saw Bernanke today on CSPAN. I also saw Maurice Hinchey from New York expressing his concern about the division of wealth, and without seeing a historical representation about any shifts in that regard, I cannot comment. By shifts I refer to volume/percentage rather than the ascribed families and institutions.

My personal feeling is this will play out in about 3 different ways:

A. Things erupt into total chaos (catastrophes, anarchy, other ‘major event’)
B. Stalemate (i.e. protestors simply do not get enough momentum/support and go home)
C. Protests lead to sweeping fiscal policy changes

Now, regarding C, let us say bunches of changes are made to supposedly make things better.
Great… most everyone’s happy – woohoo.

Then, because the changes are not effective (maybe because it takes too long to see any affect) and we are back at square one.

Suddenly, we find that we REALLY do need a bailout for the people (social institutions/social infrastructure) but too bad, we changed policy and cannot help now. Or we are too broke…Or ultra-conservatives have taken over and refuse to spend any money on the aforementioned institutions. Whichever reason is given, I think we could just about ‘bank’ on no monies (or very little) being supplied to ‘the peoples’ that would need it.

Furthermore, when the unemployment rate is calculated, it DOES NOT include those who have given up looking for work, are not receiving unemployment, have not been actively searching withing the prior 4 weeks and so forth. So to me, 9% is probably just a tad on the conservative side.

How Unemployment is Calculated
See the 2nd section regarding statistics.

I think people should be careful what they wish/work for lest it come back and bite our behinds.

PS: I should have mentioned Option D: One World Currency or as many would likely refer to as NWO, but that is just a conspiracy theory right?

X

Originally posted by Iamonlyhuman


Blah, blah, blah, blah... I am just so sick of all the talking heads rambling on and on and discussing this and that WITH ABSOLUTELY NO FRICKIN ACTION...

Yeah, I know, kudos to the guy for asking the question but really, Bernanke just says the same things over and over and over and then DOES the same things over and over and over...

www.rawstory.com
(visit the link for the full news article)

You wanna see how much 'these people' care about what you have to say. Don't watch the video...just look at the picture...displayed for the video. The guy in the background, has his glasses up...and is looking at his cell phone. Is he texting????

You REALLY BELIEVE these "people" have YOUR best interest at hand??? If a picture speaks 1,000 words...what does this picture tell you???

Oh, and i should have added....Yet, you LET THEM get away with it....over and over and over, again. Fool me once.....shame on you....fool me twice....shame on me. Well, you people are waaaaaaaaay past fool or shame!

reply to post by SPACEYstranger


The Egyptians are worse off now or no better than they were

Congress and all their committees are a bunch of ponpous AHoles. They should suffer the same fate as the French Elites during the French Revolution. Seriously...off with their heads.

Originally posted by explorer14
I too saw Bernanke today on CSPAN. I also saw Maurice Hinchey from New York expressing his concern about the division of wealth, and without seeing a historical representation about any shifts in that regard, I cannot comment. By shifts I refer to volume/percentage rather than the ascribed families and institutions.

My personal feeling is this will play out in about 3 different ways:

A. Things erupt into total chaos (catastrophes, anarchy, other ‘major event’)
B. Stalemate (i.e. protestors simply do not get enough momentum/support and go home)
C. Protests lead to sweeping fiscal policy changes

Now, regarding C, let us say bunches of changes are made to supposedly make things better.
Great… most everyone’s happy – woohoo.

Then, because the changes are not effective (maybe because it takes too long to see any affect) and we are back at square one.

Suddenly, we find that we REALLY do need a bailout for the people (social institutions/social infrastructure) but too bad, we changed policy and cannot help now. Or we are too broke…Or ultra-conservatives have taken over and refuse to spend any money on the aforementioned institutions. Whichever reason is given, I think we could just about ‘bank’ on no monies (or very little) being supplied to ‘the peoples’ that would need it.

Furthermore, when the unemployment rate is calculated, it DOES NOT include those who have given up looking for work, are not receiving unemployment, have not been actively searching withing the prior 4 weeks and so forth. So to me, 9% is probably just a tad on the conservative side.

How Unemployment is Calculated
See the 2nd section regarding statistics.

I think people should be careful what they wish/work for lest it come back and bite our behinds.

PS: I should have mentioned Option D: One World Currency or as many would likely refer to as NWO, but that is just a conspiracy theory right?

X

Unfortunately option D is what the main stream media seems to be pushing on middle class society, saying things like its the only option we have to fix our economic situation.
The problem isn't "unifying" the world under one banner its about getting the money back from the monetary institutions that are hoarding over 9 trillion dollars from the us treasury. This Money that was given to them on a blank cheque from the us government is now being siphoned into third world countries to "improve their economy" this is going to set up the same system of debt, the one that the us is now encountering, all across africa. The result? ending up with billions of people who owe money an always increasing amount to an establishment that gives only one option to pay back. In america that form of repayment came via the social security act of 1935 and is the reason that the US got out of debt in the thirties. through a bailout BY the banks durring the great deppression (some might go as far as to say they caused it) we were introduced into the social securities act of 35 which gave money to those that needed it but at the price of that was the peoples labour. This bill is the main reason why 3 months of your yearly wage is paid to taxes. So that the government can work the people so the country can "get out of debt". Ironically enough after WE bailed out the banks and wall street we can see that they are doing nothing but hoarding the money and keeping it locked up god knows where to set up these "bailout systems" in third world countries -i believe to help set up a unified world government- to keep the entire world in debt to them.
In the end watch for wall street to be purposefully increasing and decreasing stocks rapidlly to cause a crash to help set up world system under their influencing control.

on a side note check this article out doesn't have much to do with what i was talking about.
politicalticker.blogs.cnn.com...