*Bush picks Bernanke to replace his predecessor, Alan, say it ain't so I didn't know bout no bubble, Greenspan, and now his faithful brethren have thrown the lot of them under the money train bus.
My how the mighty have fallen. You should listen to these pubby House blowhards talk about free enterprise and capitalism not socialism, blah blah blah. But Ben is holding his own. Right back at ya.
How I see it is this way: Pubby's AND Dems friends in all the right high places of Wall Street, had permisssion from our sanctimonius politicians to blow up MY country with their greedy little hand wringing all the way to the bank. Ben has to blow up Bear Stearns, Lehman and AIG, at government Goldman Sachs behest and then when it becomes clear that Merrill Lynch will be next if the CONTRACT that BofA signed when it salivated over it's never mind DUE DILIGENCE at the prospects of going from a white trash southern bank, to a major powerhouse player of Wall Street, by acquiring a $1Trillion brokerage firm, that's right folks, I said ONE TRILLION DOLLARS in ML wealth management division, only to whine THREE months later that hey, ML has more losses than we thought, Boo Hoo, help me government...Ben told them to F themselves or you'll be fired and your board replaced, and why hasn't that happened already inquiring minds want to know.
So Ben finally does his job by making sure the system YET AGAIN< doesn't blow up to bread lines and Anarchy by the hoodwinked American public, forces the deal to go forward (and what is his job really? To be the head bank. So he finally does his job and now look at these weasels). So Congress is having taxpayer paid hearings on something that happened in Sept of 2008 when they should be having hearings on the mighty RECORD bonus's that Government Goldman will be shelling out to its own soon. All this outrage over forcing the BAD bank to do what was right.
And all this crap about what the Fed knew about ML. How about GS being in the room when the decision was being made as to whether to bail out AIG? Where is the outrage over that conflict of interest?
Grab your pitchforks people.
I love you Ben, finally. - Tradebum
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