One Final Thought On The Bernanke Fiasco

In the previous post, I described the re-confirmation of Ben Bernanke to head the Federal Reserve as “a disaster.” As I thought about it more last night, something about that disaster helped gel another couple of things that have been floating around both my own head and the larger blogosphere for a while now: namely, the Bernanke re-confirmation yesterday serves as the perfect example of...

Financial Rorschach

Well, "Helicopter" Ben Bernanke has been confirmed for a second term by the full US Senate. What a disaster. Much has been written in the past couple of months, since the Bernanke re-nomination has been slow-boiling in the Senate. Much of what's been written has focused on the indisputable fact that Bernanke was at the helm when the financial ship almost went down sixteen months ago during the...

Bernanke "Invites" Full GAO Review Of Fed's AIG Actions

Amazing what a little pressure can do, isn't it?In a letter to Gene Dodaro, director of the Government Accountability Office and acting U.S. comptroller general, Bernanke said the Fed would make available "all records and personnel necessary" if the GAO undertook such a review....Bernanke's letter came after the House passed a bill that would grant new authority to extensively audit the Fed and...