Arguing With Signposts

Ben Bernanke drops in on the op-ed page of the Washington Post to share his concern:

The government’s actions to avoid financial collapse last fall — as distasteful and unfair as some undoubtedly were — were unfortunately necessary to prevent a global economic catastrophe that could have rivaled the Great Depression in length and severity, with profound consequences for our economy and society.

Emphasis added.

The rest of the column is a bit of whine that the Fed might actually be held accountable for their part in the financial crisis. Bernanke claims the Fed is “independent,” but events and evidence suggest that the Fed is actually held captive by a bunch of Wall Street bankers. Unfair? Distasteful? How about unacceptable. The measures moving through Congress right now don’t go nearly far enough to rein in the greed and abuses of the corrupt financial system, which continues to roll in the dough while the rest of the economy sputters and millions of Americans lose their jobs.

So spare us the pearl-clutching, Ben. STFU and do your job. You’re in this mess because you and your buddies at the Fed FAILED.

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This entry was posted by The Arguing One on Sunday, November 29th, 2009 at 2:07 pm and is filed under Populism, You have got to be kidding me. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.