Comments on: Bernanke Defends Bear Stearns Bailout

Fed Chair Says Failure To Save Ailing Investment Bank Would Have Led To "Chaotic Unwinding"

[apprxam]

Three decades of deregulation: At least 3 major market near-crashes, muliple housing fails since 1990 and the airlines or on the verge of total collaspe. China has become the major holder of American debt and Neil Bush still isn''t in jail. And now the ultimate act of "privatization" the Fed Reserve is now going to be the "Blackwater" of banks solvencey and fuax enforcement of no rules. Thanks, Milton Friedman, R. Reagan, Bill "Chpt 11" Clinton.

The United States is about as sovereign as the people of Britian are citizens and not subject. The irony is that freedom is being used to take it away. Way to go Americans.

[apprxam]

Everyone (nearly) in this country is from Kansas, voting what they think are their interest, but constantly *** themselves over by letting men like Sen. Phil Gramm use patriotism to rally to troops (that''s us) with jingoistic swill, all the while changing laws regulating investment banks, derivatives and other financial rules, quit the Senate and become the Vice Pres. UBS, benefiting from the very rule changes they implemented and profit.

If we''re gonna change things on Wall St/banks all that is needed is;

1) National usary standard of interest rate not to broach 17%

2) State, not federal enforcement and rules. Federalism and head-to-head state competition will check itself.

Notice how Sec. of tres. Paulson uses phrases like, "we''ve been looking into changing the rule since last year to mask lax supervision by the government." We''ll keep getting jerked by guys like Bush, "Prick" Cheney, at el. Scum like this keep it up because we keep up our own self-centered desire to get rich, and allow others the room to steal because we want to steal, too. All the while calling *** "free markets."

We need to stop acting like Kansans and really think about our "national" interest, suspending our "lottery" styled, aspirity driven dreams of the one.

[ontheleft]

There will be many "Bear Stearnses" to come and the government can''t afford to bail them all out. Then what? We are the closest we have ever been to going into an all out Depression since 1929. The investment in generators and MREs by all those survivalists may finally pay off in a few short years.

[nearl4511]

Every time I hear Bernanke speak, I am amazed.

His delivery and furtive looks do not inspire confidence. He says nothing that CALMS the market interests. Everything he says either causes a surge or a precipitous drop directly after he speaks.

Maybe Greenspan is to blame for much of the current market state, but at least he ALWAYS spoke to calm the audience.

Bernanke has to go.

[king77shaw]

cbsblogger - you are correct -it is time to stop supporting the ELITES .. it is no longer sufficient to view the situation through the democrat vs republican paradigm - this only weakens and distracts us from the real issues at hand - a media ploy .. both parties are the same and will do nothing for the average, working American - don''t waste your time on the overabundance of political infotainment .. focus on decentralizing as much as and as soon as possible .. only then will you begin to exert some control over your future..

[king77shaw]

cbsblogger - you are correct -it is time to stop supporting the ELITES .. it is no longer sufficient to view the situation through the democrat vs republican paradigm - this only weakens and distracts us from the real issues at hand - a media ploy .. both parties are the same and will do nothing for the average, working American - don''t waste your time on the overabundance of political infotainment .. focus on decentralizing as much as and as soon as possible .. only then will you begin to exert some control over your future..

[bgwinnett]

King77shaw

They were cold and hungry during the Feudal age, but they had no power. Scarily with Martial Law round the corner we''ll have none too.

[king77shaw]

bgwinnett, the sheeple will agree when they are cold and hungry - it doesn''t have to get that bad if they break their corporate addictions before then ..

[cbsblogger]

King77....the only way that the US people will ever regain control is when they turn off their TV and when they start saving instead of consuming.

The MSM has manipulated most Americans into believing 1) that they have no control, 2) that they should spend and borrow and that 3) they should simply give up and watch "Dancing with the Stars" and turn the reigns over to the elitists who know what is best.

BTW these are the same elitists who get most of the benefit from our taxes and policies.

[bgwinnett]

King77shaw

I agree, but will the sheeple?