New Questions Surface About Bernanke’s Role In AIG Bailout
by Capitol ConfidentialSources on the Hill tell Big Government that the nomination of Ben Bernanke to remain Chairman of the Federal Reserve is in deep trouble. A Senior Capitol Hill Staffer said to Big Government, “if [Senate Majority Leader] Reid does not file for cloture tonight, I don’t think they have the votes to confirm him.” The Wall Street Journal thinks the vote will be “tight,” yet the White House is spinning that they have the votes. Hill sources say that this nomination is trending in the wrong direction for the Obama Administration and many on the Hill are stunned by the news that, according to CNBC, Senator Barbara Boxer (D-CA) has announced her opposition to the nomination. There is growing opposition to this nominee remaining in charge of the Federal Reserve for a second term.
Senators have made public statements indicating that there may be non-public information that is hurting this nominee. Senator Jim DeMint (R-SC) said that “the Fed continues to stonewall Congress and the public.” Senator Jim Bunning (R-KY) referenced “ongoing examinations by Congress and the GAO of the Fed’s AIG bailout” and that there are “unpleasant facts for the Fed and Chairman Bernanke” that will come out after “full public disclosure of all information about the AIG bailout” that has only been shared with “select Congressional Committees and the GAO.” Senator David Vitter (R-LA) said, “it is vitally important that Congress has the ability and time to adequately review the Federal Reserve’s bailout of AIG. Although some of our offices have had time to review some of the documents, not all are available at this time and Congress should wait until GAO’s review before proceeding with his nomination vote.”
It appears that there is non-public information about Bernanke’s role in the AIG bailout that is leading Senators to jump ship on his nomination.
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61 Comments
Is Bernanke a dual citizen?
As a published economist and CPA, i vote against him. He has been ducking disclosure. We need to learn some of the secret deals he made and what he waas ordered to do and what he did on his own.
He runs his desk like Lay ran enron.
I'll bet that the conceited 'Ma'am' of the Senate will soon declare she wants his scalp too. Good luck jumping on that bandwagon you pinhead.
As an accountant, I also vote against him. He could not see the writing on the wall and was late to react. Then he didn't have the balls to tell Obama his stimulus plan SUCKED!
Is this another indication of why Dodd decided not to run?
When it comes to corruption, Obama's administration is a target rich environment.
This week can be summed up in just one word for the beleagered Tea Partiers
VINDICATION
Let me rephrase that so your fans understand what you meant:
Is this JEW also an Israeli citizen?
There, now that's more like you…
geithner is in this up to his eyeballs and always has been.
If the banks were "too big to fail" they should have been broken up like the savings and loans were in the 80's instead of being encouraged to merge thus making themselves even bigger.
I wonder how many of our lefties remember that the s&l mess was also a result of derivitaves and good old Slick Willy subsequently opened them up for even LESS (think ANY) regulation.
Go Galt!
The Fed Reserve is running a shell game and should be exposed.Who knows what we will find under those shells?
Boxer starting the campaigning a little early?
Let us repeal every law passed in 1913!
When we gonna AUDIT THE FEDERAL RESERVE? Ron Paul is right on this one.
Israel made this bed of suspicion by extending citizenship to all Jews. Therefore, viewing all Jews as having divided loyalites (at best) is their doing. Take it up with them.
Shave Geithner's head and glue the hair to Bernanke's head. Then tar and feather them both!
"….Senator Barbara Boxer (D-CA) has announced her opposition to the nomination…."
Hmm, for once she gets it right.
And, yes… Ron Paul got it right, at least, about auditing the FED.
What I want to know, el fonzo, is where do the Rothschilds, Goldman-Sachs, the CFR, the Bilderbergers, UFO's and Jimmy Hoffa tie in? How's that new tin-foil hat fittin'? Kinda' tight? …………………. Hanzo
Everything about and around this guy stinks to high heaven. Time for a big change…
Federal Reserve created in 1913 by the progressive nitwit Wilson is nothing more the a siphon for the World Banks, or the Globalists to periodicly 'transfer the wealth' of the American People.
Silly attempt at "poisoning the well." Pretty clear how the first four tie in.
Lets put Ron Paul incharge of the Federal Reserve!!
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Yes, you taught us this technique very well, silly ………….Hanzo
Bernanke is not the problem–the problem is the criminal Federal Reserve Bank. This cartel of offshore bankers have been at the throat of Americans since 1913, and it is time to drive a stake through their heart.
Ron Paul is right, and the sooner that the stooges of the Fed realize that, the better off the country will be.
The Fed must be destroyed, before they destroy us, which they have very nearly accomplished.
The Fed has a lot to do with it, the latter…..very little.
So true. If they axe Bernanke another inflationist will just replace him. The problem is the whole system. The entire financial system is a fraud. The thought that fiat paper can be money is the greatest sham in the history of the world. Paper is not money and can't be money. I would rather trade in cigarettes or scotch than paper.
Well, this will be egg on Time magazine's face. Some Man o' the Year, huh?
(Incidentally, Time's readers voted for the Iranian dissidents for the award- but Lefties can't stand street protests if they're against Leftist or their allies)
Dang right William Barrett!!!!!!!!!!!!. We also need to get out of the UN!!. Thats anotherf big problem for the US. True Constitutioanl loving Americans need to keep waking up others & keep pushing back. I had an idea yesterday that I'm going to try. We havetop start with our children to thwart this crap(As they have done) & start doing our american duties as parents!. I just bought 100 pocket constitutions (Cheap 30$ from nccs.net)& I'm getting my son to to take them to school with his Valentines to give to the other children in class. I'm going to start reading this along with the bible with my wife & sons. We've got to start teaching our kids the truth about these Marxists/Socilaits & About what this country was founded upon, GOD!
BTWW: Go Gleen Beck!!
Ha, Dan the man….Dodd decided to cash in.
and I'm still working – ready to move on to the November elections, we now know the Alinsky rules (or even who the heck Alinsky even is/was), but have adopted the best and lost the worst (no physical violence whatsoever).
For once, you have 1 thing right. only the Fed issue, but the rest are just as at blame, just at a later time.
We are about ready to to that in Southern California. We have a distribution system in the illegal alien population already doing it in the black market.
Um, several months ago, a local money guy on talk radio in Philly spoke about the bank bailouts. Who lived and who died. One firm in particular had strong ties to Tim Geitner when he ran the NY Fed. I asked, who was his boss, wasn't anybody watching what Timmy was doing? Well, the boss was ….Bernanke. There was talk about the AIG deal too. Here again, we find ….Timmy, Dodd, and ultimately Bernanke. Suddenly Bernanke has a problem with Senate confirmation??? Senators are known for being shall we say, gratuitous towards their President's nominations. This one was no different until TODAY. So wha happen?
Ron Paul is right on that and numerous other things. They ought to audit the IRS along the way, go right up both their tailpipes, hog tie and neuter em both, then on to the GSEs.
I just want to know what the hell they have on the guy. These people wield obscene, mind blowing amounts of authority over a s-load of funds. So what the hell did he do with the money and what do they have on him?
What Happened?
The Dems took a beating and are now looking for a Judas Goat. Bernanke happened to have the misfortune to be both in the public eye and nominated for the highest profile position available at this moment.
He is currently doing introductions to his bunkmates on the underside of the O's bus.
Tea Party lust for political blood sated, O can now get to the truly pressing issues like saving all us stupid plebeians from ourselves.
I'm assuming you mean every Constitutional Amendment? ……………. Hanzo
True, but Wilson was merely a tool. The 16th Amendment, allowing for the Progressive Income Tax(1 of the planks of the Communist Manifesto), as I'm sure you know, was actually advanced in 1910, finally working it's way to completion as an Amendment in 1913, under very suspicious circumstances. Many eminent Scholars and Historians claim the required number of States to pass said Amendment was obtained by fraud, many coming over the Christmas Break of 1912 in the wee hours of the night(sound familiar?). ……..Hanzo
The main reason we are in the mess we're in today is because greedy, power hungry politicians(who are merely pawns of special interests) maintain their base largely through an uninformed and apathetical general public…………………… Hanzo
Andrew Jackson, where are you? ……………. Hanzo
We need an @ss-kicker like Andrew Jackson, who actually kicked the "fed", before it was known as such, out of the country……………..Hanzo
The cartel of which you speak has been around since before the Civil War, and Andy Jackson kicked them out, only to be stabbed in the back as soon as he was out of office. Actually, overseas(European) banks have tried to usurp our financial system since this country was born. Alexander Hamilton was a proponent of a central bank and guess who he wanted to run it, since they already had "vast experience"?………….. Hanzo
He is toast.
Turbo Tax Timmy is next.
I am still amazed that they are never audited. I thought some one would know what they are doing behind closed doors but they seem to be a shadow government that needs to be exposed.
They really need to find out what all of these people are doing. The IRS has gone crazy lately and none of their auditors seem to know the law. What is going on in our country? Some one needs to simplify the tax codes, when the auditors don't even know the law there is a real problem.
CAUTION: The PROGRESSIVES WILL NOT GO AWAY; THEY ARE THE MARXIST THAT HAVE A PLAN TO DESTROY AMERICA AS WE KNOW IT!
[...] New Questions Surface About Bernanke’s Role In AIG Bailout [...]
Put this bum in prison! Audit the Fed now! When will Fannie and Freddie pay back one cent to taxpayers for their bailout? Remember Fannie and Freddie get unlimited check for eternal bailouts in the middle of the night during Christmas vacation?!
Oh look, projection.
Don’t forget Bernanke’s partner in crime, Hank Paulson. What happened to him? It’s like he fell off of the planet. They should both be waterboarded to find out who they were really working for and where our money went. Then they can go be cellmates with Madoff.
The only time paper can be construed as "money" is when it represents a tangible asset, such as Gold or Silver reserves and can be traded in at any time for the equivalent value of said asset…………….. Hanzo
Warren Buffett, when asked in a CNBC interview this week what would happen if Mr. Bernanke weren't confirmed, said, "Well, just tell me a day ahead of time so I can sell some stocks."
This is excatly the problem, Warren know a few days and weeks ahead so him and "ALL GORE" can sell at a nice profit and then buy "puts". This is excatly the way it works for them while you and I get the call from the bolier room telling us to BUY BUY BUY!!!! F***King crooks! We're just the saps- all their brillance amouts to is insider trading. Where's Barney, Chris, Nancy, Joe, and Oblabby to protect us!
This is why I agree with Rothbard's 100% gold reserve standard. Paper money really started as bank receipts. Instead of trading the gold people would just trade the receipts.
In the mean time support Ron Paul's competing currency bill currently in congress, in addition to the audit th fed bill. The fed could use come competition. That might be the easiest way to phase them out.
No he's right. The Fed is wholly to blame. The politicians can try to make banks lower their standards of lending to try to give everyone a house etc., but nobody is getting any money that isn't there. The Fed accommodates the politicians. It is only the Fed that can expand the money supply. People are asking the wrong questions. The real question should be "where did the money come from?". It all goes back to the Fed. No deflationary collapse, such as the bursting of the NASDAQ and housing bubbles, can occur without prior inflation and the Fed is the only source of inflation.
Sorry I was not as specific as I should have been…..YES! Every Amendment!
Your answer: They are making sure that everything Warren and Al want happens.
James you are wrong, the collapse of the housing market is huge and was caused by govrnment interference with the banks.
Hanzo, you were right mention lobbyists that hav infected Washington. I was certainly remiss in failing to mention them, I will redress that omision now.
Politicians on both side of the aisle need to start voting for the people, if they don't, its quite simple, vote their no good asses out.
Good job on citing historical FACT Hanzo!!! A+
Exposing this corruption is going to take a great deal of time. The people who do the investigating must not have played any role in government. I predict it will take a minimum of ten years to perform a full audit. Then we can hold hearings and all that were involved must be tried and when found guilty, spend the remainder of their lives doing hard labor! My list of those I hope end up there: Frank, Dodd, Murtha, Timmy, Ben, Soros, just to name a few! It would be great if Pelosi and Reid were found to be linked in some way.
Please read this article from July 29, 2008: http://cbs2chicago.com/politics/obama.treasury.se...
I think sometime in September 2008 both Bernanke and Hank "GoldmanSachs" Paulson endorsed obama. I don't think they ever met with McCain. Just sayin'….
Did you read what I wrote? The government can screw with the banks all they want, which I agree is bad and I do believe in an economy and financial system that is separate from the government, but nobody is getting any money that wasn't first created out of thin air by the Federal Reserve's loose monetary policy. It is the Fed that is the only source of these bubbles. It is paper money that is the source of the inflationary boom/bust cycle.
You must understand the nature of money as a commodity medium of exchange that arose from the market to replace barter. I.e. if you are a producer of bread and you want to buy a bicycle, with barter you would have to find a bicycle producing bread wanter. With a universal commodity of exchange like gold or silver you can trade your bread for silver and use the silver to trade for a bicycle. This goes out the window with paper money controlled by a central bank, or any bank for that matter. But it is especially bad with a central banking system because it removes all checks on inflation that are present with decentralized banking by allowing the entire financial system to inflate in tandem.
Greenspan and then Bernanke, through artificially low interest rates gave the illusion of wealth. The interest rates are supposed to represent the price of money. Like everything else, the price of money should be subject to supply and demand. If the interest rates are low then that should represent a high savings rate and thus lower demand for money and capital. This should then tell investors and businessmen that consumers have lots of savings and are ready to consume. But guess what? People didn't have a high savings rate. They generally were broke. But because of the low interest rates, in addition to the low lending standards that you are right to mention, people bought houses they couldn't afford and used the unnaturally rapidly increasing equity as an atm to go into even more debt. This unnaturally rapid increase in equity was due again to the inflation of the cheap money of Federal Reserve. The wealth was an illusion. Eventually the bust must come because if the wealth is an illusion and not reflective of the real amount of savings and capital in the system, then eventually the price of capital goods like building materials etc. will rise and continue to rise while the prices of houses needed to fall thus impairing builders from making a profit. In the mean time, the false equity was wiped out and the mortgage backed securities became worthless killing the balance sheets of any institutions that were holding them (Fannie and Freddy, Lehman, Goldman Sachs etc.)
Again, you are right to blame the government they played a role, but the Fed is the great enabler of these policies and the cause of disharmony in the economy.
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