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December 18, 2014
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Tag: Ben Bernanke


Council on Foreign Relations: It’s Time to Rain Money on Main Street

The September/October issue of Foreign Affairs features an article titled “Print Less But Transfer More: Why Central Banks Should Give Money Directly To The People.” It’s the sort of thing normally heard only from money reformers and Social Credit enthusiasts far from the mainstream. What’s going on?

Posted on Sep 1, 2014 READ MORE



Records Show Federal Reserve Wildly Misunderstood Crisis

“Hundreds of pages of transcripts, based on recordings made at the time, reveal the ignorance of Fed officials about economic conditions during the climactic months of the financial crisis,” The New York Times reports.

Posted on Feb 23, 2014 READ MORE



ephicharmus (CC BY 2.0)

Amend the Fed: We Need a Central Bank that Serves Main Street

Congress has the power to amend the Fed—just as it did in 1934, 1958 and 2010. For the central bank to satisfy its mandate to promote full employment and become an institution that serves all the people—not just the 1%—the Fed needs fundamental reform.

Posted on Dec 8, 2013 READ MORE



sashafatcat (CC BY 2.0)

The True State of the Economy

There is a tradeoff for all the loot Obama’s friends have been pilfering from working people, and that tradeoff is trust. Americans no longer have confidence in the government, the market or the justice system. And while the effects might not appear in the next month or two, there are sectors of the economy that are showing signs of weakness already.

Posted on Oct 5, 2013 READ MORE



badjonni (CC BY-SA 2.0)

The Leveraged Buyout of America

Giant bank holding companies now own airports, toll roads, and ports; control power plants; and store and hoard vast quantities of commodities of all sorts. They are systematically buying up or gaining control of the essential lifelines of the economy. How did they pull this off, and where did they get the money?

Posted on Aug 26, 2013 READ MORE



Screenshot

Whom Does Sen. Warren Want to Head the Fed?

Since taking office earlier this year, Sen. Elizabeth Warren, D-Mass, has been a staunch consumer advocate, a champion of the middle class and a thorn in Wall Street’s side, which is why we should pay close attention to whom she’s backing to replace Ben Bernanke as head of the Federal Reserve.

Posted on Jul 28, 2013 READ MORE



zzkt (CC BY-SA 2.0)

Collateral Damage: QE3 and the Shadow Banking System

Rather than expanding the money supply, quantitative easing has actually caused it to shrink by sucking up the collateral needed by the shadow banking system to create credit. This “failure” has prompted the Bank for International Settlements to urge the Fed to shirk its mandate to pursue full employment, though the sort of QE that could fulfill that mandate has not yet been tried.

Posted on Jul 26, 2013 READ MORE


Pelosi

The Next Fed Chair, Pelosi Slams ‘Reprehensible’ Weiner, and More

A look at the day’s political happenings, including the roll call vote for Justin Amash’s failed NSA surveillance amendment and the Republican congressional idea that one GOP senator called “the dumbest” he ever heard.

Posted on Jul 25, 2013 READ MORE



AP/Mark Lennihan

The Return of Lawrence Summers, Mr. Spectacular Failure

The guy who tops the list of those responsible for sabotaging the world’s economy is lobbying to be the next chairman of the Federal Reserve.

Posted on Jul 15, 2013 READ MORE



Shutterstock graphic of stocks falling.

Wall Street Doesn’t Like What Fed Chairman Has to Say

The Federal Reserve will continue to buy bonds at a rate of $85 billion a month, but Chairman Ben Bernanke said better economic indicators mean the central bank could end its quantitative easing policy in 2014.

Posted on Jun 19, 2013 READ MORE



AP/Louis Lanzano

Truthdigger of the Week: David Stockman

Former Reagan-era budget director David Stockman is under attack by pundits everywhere for confirming that money for Wall Street and nothing for Main Street stands as an upper-class attack on the American public.

Posted on Apr 6, 2013 READ MORE



AP

It Wasn’t David Stockman Who Wrecked the Economy

For all of the strident attacks on Stockman’s column, I have yet to read a serious critique of his most brazen claim.

Posted on Apr 2, 2013 READ MORE



AP/Alex Brandon

Fed Chairman Bernanke: ‘I Agree With Elizabeth Warren 100 Percent’ on Big Banks

If Bernanke’s stance is any indication, Sen. Warren, who was just sworn in this January, is already having a positive impact on Washington.

Posted on Mar 21, 2013 READ MORE


Elizabeth Warren Grills Fed Chairman Over ‘Too Big to Fail’ Banks

Sen. Elizabeth Warren, D-Mass., a two-time Truthdigger of the Week, demonstrated once again why big banks and Wall Street want to keep their distance from her when she took on Ben Bernanke during his semiannual appearance before the Senate Banking Committee on Tuesday.

Posted on Feb 26, 2013 READ MORE



Flickr/tiseb

Why the Fed’s Jobs Program Will Fail

For the first time, the Federal Reserve has explicitly linked interest rates to unemployment. Rates will remain near zero “at least as long” as unemployment remains above 6.5 percent and if inflation is projected to be no more than 2.5 percent.

Posted on Dec 13, 2012 READ MORE



By davelawrence8

Krugman: Praise for Bernanke, Criticism for Romney

In his latest takedown of Mitt Romney, the New York Times columnist criticizes the Republican presidential nominee for his stance on the Fed’s latest effort to jump-start the economy.

Posted on Sep 17, 2012 READ MORE



AP/Scott Applewhite

Truthdigger of the Week: Ex-TARP Investigator Neil Barofsky

In late 2008, Neil Barofsky was appointed the Treasury Department’s investigator of the bank bailouts. In the time since, he has suffered dismissal and deprecation from his colleagues and the corporations they’re supposed to regulate.

Posted on Aug 4, 2012 READ MORE



jrodmanjr (CC BY-ND 2.0)

Mortgage Debt Relief? Not on His Watch

The Federal Reserve announced last week that it would launch no new stimulus programs to jump-start the economy, and editors at The Washington Post applauded Edward DeMarco, acting director of the Federal Housing Finance Agency, for refusing to refinance mortgages for struggling homeowners.

Posted on Aug 4, 2012 READ MORE



AP/Barry Thumma

See You at the Club: Fed Fat Cats Dip Into the Till

American families have lost 20 years of growth while at least 18 bankers and tycoons sat on Fed boards that coincidentally bailed out their institutions.

Posted on Jun 14, 2012 READ MORE



W.W. Norton & Company, Inc.

How Bad Things Are

In March 2009 Ben Bernanke, normally neither the most cheerful nor the most poetic of men, waxed optimistic about the economic prospect. After the fall of Lehman Brothers six months earlier, America had entered a terrifying economic nosedive. But appearing on the TV show “60 Minutes,” the Fed chairman declared that spring was at hand.

Posted on May 14, 2012 READ MORE



rosebennet (CC-BY)

Fed to Keep a Lid on Rates Through 2014

The Federal Reserve lent weight to economists’ warnings of a long and slow recovery on Wednesday when it announced plans to keep short-term interest rates near zero for at least the next three years. The idea is that low rates will encourage borrowing and investment in American businesses, helping resurrect the economy.

Posted on Jan 25, 2012 READ MORE


Bernanke and Buffett Talk About Occupy Wall Street

Chairman of the Federal Reserve Ben Bernanke and multibillionaire Warren Buffett spoke to CNN Money about the Occupy Wall Street protests.

Posted on Oct 7, 2011 READ MORE



AP / J. Scott Applewhite

The Men We Trusted to Lead Us

Why are Ben Bernanke and Barack Obama just now discovering that there is a jobs crisis in this country?

Posted on Sep 28, 2011 READ MORE


The Evil Fed

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Posted on Sep 22, 2011 READ MORE


Bernanke
AP / Susan Walsh

Bernanke Baffled by Troubling Economic Trends

This is not really the kind of headline we want to read about the Federal Reserve right now, but top banana Ben Bernanke acknowledged at a news conference Wednesday that the Fed was “caught off guard by recent signs of deterioration in the economy.”

Posted on Jun 22, 2011 READ MORE



AP / Alex Brandon

The Bernanke Scandal: Full-Frontal Cluelessness

How I wish that Ben Bernanke would get caught emailing photos of his underwear-clad groin. Otherwise we don’t stand a chance of reversing this administration’s economic policy, which is shaping up to be every bit as disastrous as that of its predecessor. 

Posted on Jun 7, 2011 READ MORE


Left, Right & Center

‘Left, Right & Center’: Birthers and Bernanke; Petraeus and Panetta

The American political climate took on a certain circus-like quality this week, with GOP showman Donald Trump stirring up the birther controversy yet another—and, given the result, hopefully the last—time. Thankfully, we have “Left, Right & Center” regulars Robert Scheer, Matt Miller, Tony Blankley and special guest Mary Matalin to cut through the noise on that issue.

Posted on May 1, 2011 READ MORE


The Fed Makes a Show of Transparency

When you sit back and ponder all the ways in which our government’s functionality might be improved, you immediately seize upon the notion that if Fed Chairman Ben Bernanke held news conferences, we’d be that much closer to a true democracy, right?

Posted on Apr 27, 2011 READ MORE



Flickr / cliff1066™(CC-BY)

And Now, Some Slightly Better News from The Fed

On Wednesday, newly released minutes from the Federal Reserve’s late-January meeting reflected a more optimistic stance vis-à-vis the next phase of the U.S. economy, but unfortunately, the slightly brighter outlook didn’t extend to the Fed’s take on the job market.

Posted on Feb 16, 2011 READ MORE


Bernanke
AP / Susan Walsh

Bad News Bernanke Strikes Again

As if the last couple of years haven’t been brutal enough, here comes Federal Reserve Chairman Ben Bernanke with the exasperating news that the job market isn’t going to markedly improve for “several years.”

Posted on Feb 9, 2011 READ MORE


One-Man Fire Brigade

Ben Bernanke may or may not succeed in saving the economy, but at least he has the courage to try—and the honesty to tell the truth. The same cannot be said of our elected officials.

Posted on Dec 7, 2010 READ MORE



Wikimedia Commons / Robert Mihaly (CC-BY-SA)

New Data Show Extent of Fed’s Free Money Programs

Thanks to Bernie Sanders and the new financial regulation passed by Congress, we’re learning more about the Federal Reserve’s $3.3 trillion bailout of Wall Street in 2008. It turns out the Fed lent money ... (more)

Posted on Dec 1, 2010 READ MORE



AP / LM Otero

The Life and Times of Bush the Clueless

The Harvard MBA is the degree that George W. Bush and his last treasury secretary, Henry Paulson, had in common, and their shared ignorance as they presided over the collapse of the U.S. economy is on full display in the former president’s newly published memoir.

Posted on Nov 10, 2010 READ MORE



AP / Frank Franklin II

Wall Street Wins Again

In the wake of the election, the Fed pulled off a move detected only by downtown Manhattan. It quietly announced a purchase of $600 billion in Treasury securities (read: our debt) while pundits on the left and right were dissecting the role of the tea party in political life as we know it.

Posted on Nov 8, 2010 READ MORE


Left, Right & Center

‘Left, Right & Center’: Political Upheaval, Bernanke’s Billions

There’s a lot of unpacking for “Left, Right & Center” regulars Tony Blankley, Robert Scheer and Matt Miller to do after last Tuesday’s midterm elections. What does the vote mean? Where are we headed? And did Obama really pick up what Americans were putting down, so to speak, at the polls?

Posted on Nov 5, 2010 READ MORE



Flickr / Gisela Giardino (CC-BY-SA)

Federal Reserve Finds $600 Billion in the Couch

Trying to follow the amount of money the Federal Reserve has pumped into the economy (and the banks) can be truly mind-boggling, and it’s not getting easier. (continued)

Posted on Nov 3, 2010 READ MORE


Left, Right & Center

‘Left, Right & Center’: Bernanke Bucks, Mehlman Comes Out

Fed chief Ben Bernanke says he hasn’t ruled out buying up more bad paper to prop up the economy. Is it good news, bad news or no real news at all? What do the primaries portend about the midterm elections ahead?

Posted on Aug 27, 2010 READ MORE


washington
Flickr / jmlawlor

Fed Shifts to Bond-Buying Mode to Boost Economy

The Federal Reserve is taking action to try to give the flagging U.S. economy a much-needed jolt by committing to buy up some of the government’s debt in the form of long-term Treasury securities.

Posted on Aug 10, 2010 READ MORE


Bernanke
Wikimedia Commons / U.S. Federal Reserve

Bernanke Bears Bad News for the Jobless

Those out-of-work Americans hoping to hear something encouraging from the general direction of Capitol Hill wouldn’t like what Federal Reserve Chairman Ben Bernanke had to say to Congress on Wednesday.

Posted on Jul 21, 2010 READ MORE



Flickr / Sister72 (CC-BY)

Paul Krugman Is Freaking Us Out

He’s a one-man downer, but mainly because he’s smart, credible and pulls no punches. In his latest New York Times column, the Nobel Prize winner warns that the Federal Reserve isn’t taking a negative enough view of the economy—with potentially dire consequences. Happy Monday to you, too, Paul.

Posted on Jul 11, 2010 READ MORE


Bernanke
Wikimedia Commons / U.S. Federal Reserve

Bernanke: Unemployment to Be ‘High for a While’

There are economic indicators that we want to be on the high end of the scale, but unemployment isn’t one of them. Unfortunately, according to Federal Reserve Chairman Ben Bernanke, the U.S. unemployment rate ... (continued)

Posted on Jun 8, 2010 READ MORE



Flickr / eflon

Regulating Too Big to Fail

Coming only a year too late to the party, Fed Chair Ben Bernanke has asserted that regulators must be “significantly tougher” on the large financial firms, arguing that the perception of those institutions as “too big to fail” threatens competition in the financial markets.

Posted on Mar 20, 2010 READ MORE


Kohn
Wikimedia Commons / Federal Reserve

Fed’s Second in Command to Step Down

The Federal Reserve’s vice chairman, Donald L. Kohn, is ready to leave the building. Providing what could be a substantial opportunity for the Obama administration to change the central bank’s course, Kohn announced Monday that he’ll retire June 23, the official end date of his four-year term at the Fed.

Posted on Mar 1, 2010 READ MORE



Flickr / antiparticle

Fed Looking Into Goldman Sachs’ Role in Greek Debt Crisis

It’s not the only financial institution involved, but Goldman Sachs features prominently among the companies that the Federal Reserve is investigating in relation to Greece’s recent debt calamity, Fed chief Ben Bernanke told the Senate Banking Committee on Thursday.

Posted on Feb 25, 2010 READ MORE


Bernanke
AP / Susan Walsh

Good Bernanke News Gives Wall Street a Boost

Well, it’s good news for Mr. Bernanke, at least: The U.S. stock market did better Monday than it had in the last three days of trading, thanks in part to signs that Federal Reserve Chairman Ben Bernanke’s support in the Senate appeared solid. The sunny quarterly report from Apple Inc.—coming just days before the company was expected to make a major announcement—also helped reverse last week’s slide.

Posted on Jan 25, 2010 READ MORE



AP / J. Scott Applewhite

White House Pushes for Bernanke

With unemployment running at 10 percent and Wall Street bankers again pocketing big bonuses, many see Federal Reserve Chairman Ben Bernanke’s priorities as skewed. But absent from those critics is the White House, which believes Bernanke will be reconfirmed for a second term next week.

Posted on Jan 24, 2010 READ MORE



Flickr / eflon

Bernanke Offers Fed’s AIG Records to Gov’t Watchdogs

The Fed has nothing to hide about its dealings with AIG when it saved the too-big-to-fail insurance behemoth during the great bailout of 2008-9—or at least Federal Reserve Chairman Ben Bernanke has signaled his full willingness to make the central bank’s relevant “records and personnel” available to investigators from the Government Accountability Office.

Posted on Jan 19, 2010 READ MORE



Federal Reserve

Bernanke Wins Senate Panel’s Support

It’s been a good week for Federal Reserve Chairman Ben Bernanke. First came the news that he’d been chosen to be Time magazine’s Person of the Year, and then, on Thursday, the Senate Banking Committee voted to approve his nomination to lead the Fed for another four years.

Posted on Dec 17, 2009 READ MORE


Obama
AP / Susan Walsh

Dear Barack, Spare Me Your E-Mails

Obama’s faux populism is beginning to grate, and when yet another one of those “we the people” e-mails from the president landed on my screen as I was fishing around for a column subject, I came unglued.

Posted on Dec 9, 2009 READ MORE


Bernanke
Wikimedia Commons / United States Federal Reserve

Bernanke Up for Round Two as Fed Chief

After heading up the Fed during the nation’s biggest economic catastrophe in decades, Federal Reserve Chairman Ben S. Bernanke will be nominated to continue his role for a second term, according to another top Obama adviser, David Axelrod.

Posted on Aug 24, 2009 READ MORE


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