The Chairman Part 1
March 15, 2009 5:51 PM
If you think your job is tough, consider Ben Bernanke's. As Chairman of the Federal Reserve, the task of reviving the U.S. economy falls largely on his shoulders. Scott Pelley has the interview.
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See all 36 CommentsThe first thing his jewish immigrant parents would have told him to do with his own personal financial responsibility.
Which is to strive hard to live within your means. To always save and invest before you spend a penny. To not borrow a penny more that you can absolutely pay off without drowning your family in deep debt. Feel shame if you ever did.
Those who did the right thing are now suffering the consequences of and being forced to bailout those who did not - with few exceptions (people who fell on hard times despite being frugal and responsible).
Mr. Bernenke , look squarely in the eyes of not just greedy Wall Street bankers but also irresponsible individuals on the main street, and show your outrage.
Mr. Bernenke, tell those unrestrained borrowing/spending clowns in Washington DC (from both political parties) that they have screwed and continue to screw America big time. These fiscally irresponsible fools think they can bring heavans on earth by just playing Robinhood - taxing the rich to pay for their socialism. How long can they keep printing dollars without turning America into another third world banana state? How long can they mortgage free people by selling US debt to the likes of China? Are they not responsible for setting a terrible example for the Joe Six Pack - have great time with your material lusts purchased on credit while dooming future of all our children and their children?
The Federal Reserve needs to be nationalized.
We need to have access to the Raw Data Now.
. Inflation after we hyper inflate won't create jobs after all even if we put a degree of people back to work;;
The people that caused this terrible situation won't be able to pay their debts even when they do go back to work.
Who is going to pay for this and how?
I'm living in a place i belong in for my income level but the people that gave the system the ( business) tongue in check) . Why should i suffer for them to survive to have a place many times bigger than they ever saved for a deposit and now living in a palace. i just about make my monthly Nut, plus insurance gas electric, food and heat. Plus my medical insurance payments. I can't even get a part time job as no one will hire a retired person my age regardless of my education. Enough is enough don't pick on the innocent and older helpless people.
Some frugal helpless retired person that gets thier social security benefits cut.
the Steve Kroft report, but this is step backward. From the prevous comments I can see
most people are getting wise to the Fed and are already ahead of you.
The "root of the problem" IS the Fed and our debt based/financial based economy!
It's about time people everywhere study the history of the Federal Reserve for themselves
because they're not going to get it from public schools and mainstream media.
Oh, and did he say that the Fed turn part of its profit over to the Treasury? I gotta check
that one out!
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