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.Chairman of the Federal Reserve Ben Bernanke and multibillionaire Warren Buffett spoke to CNN Money about the Occupy Wall Street protests.
Bernanke, who cites the high rate of unemployment and exceedingly slow economic growth, said the protesters “blame with some justification the problems in the financial sector for getting us into this mess.”
Buffett said that though he believes a lot of the protesters are uninformed, “the feeling is real.” –BF
See and hear more from Ben Bernanke and Warren Buffett on the Occupy Wall Street protests below:
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Market forces are colliding as another U.S. financial crisis brews. Meanwhile, sit tight on the roller coaster.
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?
"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.
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.
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