Printed From: MiddletownUSA.com
Category: Outside World
Forum Name: News, Info and Happenings outside Middletown
Forum Description: It might be happening outside Middletown, but it affects us here at home.
URL: http://www.middletownusa.com/forum/forum_posts.asp?TID=3830 Printed Date: Jun 09 2024 at 9:45pm
Topic: Ron Paul Says Bernanke Should Own UpPosted By: John Beagle
Subject: Ron Paul Says Bernanke Should Own Up
Date Posted: Apr 27 2011 at 4:48pm
Federal Reserve chairman Bernanke's press conference was "enlightening" and Bernanke needs to be more responding to the damand for transparancy, said Ron Paul.
Paul went on to say that that they make policy sound reasonable, but they don't admit to anything. When it comes to prices its never their fault.
Bernanke never admits that its the inflation of the money supply..
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Middletown USA
News of, for and by the people of Middletown, Ohio.
Replies: Posted By: John Beagle
Date Posted: Apr 27 2011 at 4:51pm
What Bernake should have said...
... there’s something I have to say. Something the Federal Reserve has to say. We’ve screwed up. We’re sorry. But we can’t make things right unless you’re willing to help.
We were the folks who had both the power and the responsibility to pop the credit bubble before it enveloped the entire economy. I wasn’t the guy in charge then, but it’s not like I saw it coming. I think we did a better job once the financial crisis began. You folks have no idea how bad things would’ve gotten if I hadn’t broken every rule in the Federal Reserve’s Big Book o’ Don’ts. Half of what I did was arguably illegal. And, if I’m being honest, the biggest mistake I made was not stretching the law further and keeping Lehman from going under. Damn Lehman....