Jim Bunning Does Not Love Ben Bernanke

[NCVol]

This is one of the best things I've ever seen written/heard by a Senator on an issue of economic importance, ever, and it's by Republican Jim Bunning talking about why Ben Bernanke should not be reappointed.  

http://www.ritholtz.com/blog/2009/12/jim-bunning-does-not-heart-ben-bernanke/

I opposed you because I knew you would continue the legacy of Alan Greenspan, and I was right. But I did not know how right I would be and could not begin to imagine how wrong you would be in the following four years.

On consumer protection, the Greenspan policy was don’t do it. You went along with his policy before you were Chairman, and continued it after you were promoted.

Chairman Greenspan’s attitude toward regulating banks was much like his attitude toward consumer protection. Instead of close supervision of the biggest and most dangerous banks, he ignored the growing balance sheets and increasing risk. You did no better. In fact, under your watch every one of the major banks failed or would have failed if you did not bail them out.

[Y]ou have decided that just about every large bank, investment bank, insurance company, and even some industrial companies are too big to fail. Rather than making management, shareholders, and debt holders feel the consequences of their risk-taking, you bailed them out. In short, you are the definition of moral hazard.

From monetary policy to regulation, consumer protection, transparency, and independence, your time as Fed Chairman has been a failure.

Bravo Sen. Bunning.  That was brilliantly stated.  

[Just Win]

It is said a picture is worth one thousand words. Well this picture is worth more than simply one thousand.


One big happy Democrat family. The only people missing are the President,
Chris Dodd,  Larry Summers, and Warren Buffett with the rest of the
Golman Sachs boys

[NCVol]

with the rest of the Goldman Sachs boys

You mean like Henry Paulson? 

[LTC]

 /Hamilton/Ford/Petersen/