Bank-Owned Senators Will Yell At Bank-Owned Bernanke Today


This morning's theatrical populist pretend-fest is alreadyunderway in the Senate, where Fed Chairman Ben Bernanke is facing his first reconfirmation hearing before very very angry Republicans and Democrats, who have all sorts of "ideas" for the Fed in the future.

(1) The Fed is too close to the big banks and gives them insane amounts of money with no strings of any value attached. In this sense it is much like the United States Congress. It would be nice if the Congress could write some law demanding that banks of a certain size and vulgar profitability in this shitty economy donate $X(XXXXXX) billion to businesses that might want to hire humans, to work. Why Bernie Sanders needs Ben Bernanke to write and pass this law through Congress himself is unclear, but Bernie Sanders is pretty cool so go Bernie.

(2) My god Congress should either *abolish* the Fed completely like Ron Paul wants, or leave it basically the way it is, because if this Congress thinks it needs to give itself more "oversight" over monetary policy, over the money supply, over things that actually require thought and advanced knowledge and oftentimes quick responses, we're getting on the first night boat to Bermuda to live and smoke drugs with the Uighurs forever. (Wait... why don't we do that right now, anyway?)

(3) Screw all of these people, the ones who handle the money.

(4) Yeah we're sure the problem will be solved forever if they don't confirm the Great Satan Ben Bernanke. We're sure they'll replace him with Noam Chomsky or the Wobblies and the banks will never have power again.

(5) It would be really nice if folks had jobs and some money again. It's awful. Americans are good people, and maybe when we all have jobs and some money again we'll stop being so mean to each other.

Bernanke Defends the Fed in Confirmation Hearing [NYT]


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