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To: DebtBomb who wrote (241198)	3/16/2010 9:11:23 PM
From: saveslivesbyday	Read Replies (2) \| Respond to of 306849

" .. Bernanke said its banking duties give the Fed insights into the health of the entire banking system." Right, the insights that led BB to admit "nobody saw this coming" ???!!!

To: DebtBomb who wrote (241198)	3/16/2010 9:54:43 PM
From: ggersh	Respond to of 306849

"In testimony prepared for a House hearing on Wednesday obtained by The Associated Press, Bernanke argued that the Fed factors in information it gets from its role as a regulator into its decisions on interest rates. And, Bernanke said its banking duties give the Fed insights into the health of the entire banking system." Total bullshit! What a joke..

To: DebtBomb who wrote (241198)	3/16/2010 10:45:06 PM
From: Stefan	Read Replies (1) \| Respond to of 306849

"The insights provided by our role in supervising a range of banks, including community banks, significantly increases our effectiveness in making monetary policy and fostering financial stability," Bernanke said in his prepared remarks to the House Financial Services Committee. No one is asking a freaking simple question "Why do we need Fed? It was supposed to prevent financial collapses and manias and it failed. Why would you reward bad performance with more responsibilities? This is asinine, let’s go to pre 1907 and you will see that the fluctuation will be smaller than what we have now. How did we as a society allowed them to reap all the benefits for minimal effort?