On Fri, Dec 4, 2009 at 3:45 PM, Doug Henwood <[email protected]> wrote: > Fresh punditry: banks, Bernanke, job market, productive disillusionment: > > http://bit.ly/6NmH7u
"Why is this guy getting reappointed? He let the bubble inflate, dismissed worries about the dangers of subprime "mortgages and derivatives, said in mid-2008 that the recession was unlikely to get too serious (just as it was about to get very serious)—and then, when everything fell apart, set about writing big big big giant big checks to Wall Street. Yes, in a financial crisis, it’s essential that a central bank flood the system with money to keep things from imploding utterly. But he’s done so without any clear strategy or accountability, and absolutely no commitment to insuring that it doesn’t happen again. Truly the American ruling class is a rotting social formation." Bernanke offers some advice on "entitlements": http://www.huffingtonpost.com/cenk-uygur/hell-no-on-bernanke_b_379268.html ------------------------------------------------------snip So, I was not predisposed to support him but I was not dead set against him, either. Until now. He just said in his hearings that he would get more money by going after Social Security and Medicare. When Sen. Reed suggested that we could also get the money by taxing some of the richest people in America (some of whom got rich causing the economic crash in the first place), all of sudden he demurred. He says that's not his place to say if we should ever raise taxes. But apparently it is his place to encourage going after your retirement money. So, taxing the rich is never under consideration, going after the retirement money of the middle class is his first option. Sorry to be blunt, but fuck that. He even has the nerve to quote famous bank robber Willie Sutton by saying that he would go after Social Security and Medicare because "that's where the money is." Well, give him points for honesty. He plans on robbing more of your money to give to his Wall Street friends - because that's where the money is. As if they haven't taken enough of our money. This guy's is nothing but Greenspan 2.0. In other words a complete tool. -raghu. -- "I used to do drugs. I still do drugs. But I used to, too." - Mitch Hedberg _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
