2016 Postmortem

KingCharlemagne

(7,908 posts)

60. Bernanke was nothing more than a bagman for the 1% - nt

Reply to still_one (Reply #56)

Sun Oct 11, 2015, 12:17 PM

Oct 2015

Last edited Sun Oct 11, 2015, 04:01 PM - Edit history (1)

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Bernie Sanders ‘Mistaken’ With Criticism Over Action During Financial Crisis, Ben Bernanke Says [View all] portlander23 Oct 2015 OP

When We Stand Together - No Citizen Need Settle For A Failed Federal Reserve - Go Bernie Go cantbeserious Oct 2015 #1

As an economist, lets think about this for a moment... JaneyVee Oct 2015 #2

Agree. Anyway, banks too big to fail are OUR FAULT. Hortensis Oct 2015 #3

Banks should have been nationalized, their assets seized, their KingCharlemagne Oct 2015 #4

yes Rosa Luxemburg Oct 2015 #6

Yeah, I'm sure a huge govt power grab of private wealth will resonate with voters. JaneyVee Oct 2015 #10

No he wasn't, but his vote against the bailout would have been a national disaster if others had still_one Oct 2015 #19

Stockholders and bondholders were allowed to escape KingCharlemagne Oct 2015 #46

Agreed, but that wasn't Bernanke's directive, it was to halt the collapse. The justice department still_one Oct 2015 #56

Bernanke was nothing more than a bagman for the 1% - nt KingCharlemagne Oct 2015 #60

Nope. You and I disagree. He helped prevent the second great depression. Have a nice day still_one Oct 2015 #61

You have fallen victim to the Post hoc, ergo propter hoc fallacy. (Because KingCharlemagne Oct 2015 #69

have a good evening still_one Oct 2015 #82

+3 AOR Oct 2015 #65

+2 AOR Oct 2015 #64

Wow! Sounds like a Tea Party line...whose "private wealth?" Human101948 Oct 2015 #25

Bernie isn't even suggesting that scenario. JaneyVee Oct 2015 #30

I pointed out what actually happened... Human101948 Oct 2015 #54

I'm not defending too big to fail. My point is... JaneyVee Oct 2015 #71

What would have happened if the government took them over and guaranteed them... Human101948 Oct 2015 #75

Ok, so that's one point. JaneyVee Oct 2015 #81

How is it a "grab" if the government purchases the shares at fair market value? Jim Lane Oct 2015 #67

It would have went over swimmingly with everyone but the Tea Party AgingAmerican Oct 2015 #78

Agreed. The assets seized and the bank nationalized. KansDem Oct 2015 #39

So why hasn't Bernie suggested this? JaneyVee Oct 2015 #41

Sanders suggested the equivalent when he argued that banks should be broken up and not allowed to KingCharlemagne Oct 2015 #48

Precisely... KansDem Oct 2015 #62

Yes, no one is arguing against that. My point is... JaneyVee Oct 2015 #72

Breaking up the banks makes them more valuable. joshcryer Oct 2015 #87

Good points all. I was rather sloppy and lazy in my KingCharlemagne Oct 2015 #90

+100 nt 99th_Monkey Oct 2015 #43

+1 AOR Oct 2015 #63

So during the financial crisis, bankers hasn't been arrested and given their due process Time_Lord Oct 2015 #5

Banks repayed their loans. But... JaneyVee Oct 2015 #8

Here Time_Lord Oct 2015 #12

That's not a policy proposal. JaneyVee Oct 2015 #15

Okay.. here is Bernie's official stance. Time_Lord Oct 2015 #18

How about a written policy proposal? JaneyVee Oct 2015 #21

How about actions he has already taken? Time_Lord Oct 2015 #22

And one of his actions was irresponsible and reckless and JaneyVee Oct 2015 #31

Which one? The one that voted against the bailout? Time_Lord Oct 2015 #34

Follow this scenario: JaneyVee Oct 2015 #38

That riversedge Oct 2015 #44

Intellectually-dishonest debate tactic 4e: your resume is not big enough for you to comment. DisgustipatedinCA Oct 2015 #47

Bankers after bankers after bankers after bankers after bankers Time_Lord Oct 2015 #45

So you in no uncertain terms subscribe to the idea that the banks are too big to fail? Ed Suspicious Oct 2015 #53

No, that has nothing to do with my original point, which JaneyVee Oct 2015 #70

Here's why Armstead Oct 2015 #42

Google is your friend Armstead Oct 2015 #37

Is this the new Not Good Enough, Bernie! talking point from Camp Weathervane? beam me up scottie Oct 2015 #68

You're an economist now too? Fearless Oct 2015 #9

You're making the same argument rightwingers use to privatize SS. JaneyVee Oct 2015 #13

Wait? Are you or are you not an economist? I ask because you implied you were. Ed Suspicious Oct 2015 #55

WHAT ARE YOU TALKING ABOUT!? Fearless Oct 2015 #84

JaneyVee has one message: Bernie Bad! demwing Oct 2015 #89

I think you responded to the wrong post. JaneyVee Oct 2015 #91

The one you responded to was however. Fearless Oct 2015 #93

It would have been a disaster. Millions of people would have been destroyed. We would have gone still_one Oct 2015 #11

Still, it was the bankers fault that they caused the Great Recession Time_Lord Oct 2015 #26

The prime directive was to prevent a complete economic collapse, and avoid even more panic. still_one Oct 2015 #29

Why do you present a binary choice? It was not 'do this or do nothing'. What has been done to Bluenorthwest Oct 2015 #17

The binary choice was reflective of the circumstances JaneyVee Oct 2015 #24

The binary choice is a function of groupthink which is reinforced by a threat... Human101948 Oct 2015 #58

I agree, and its not too late to tighten market regulations... JaneyVee Oct 2015 #73

we could have bailed out the customers cojoel Oct 2015 #23

+Infinity! - nt KingCharlemagne Oct 2015 #36

We did bail out the customers. JaneyVee Oct 2015 #74

+1, I don't believe how much winger crap is repeated about the baillouts on this forum its like uponit7771 Oct 2015 #80

it was a side effect cojoel Oct 2015 #94

New York enid602 Oct 2015 #33

EXACTLY. JaneyVee Oct 2015 #35

London enid602 Oct 2015 #49

The ones who have the most criticsm for the actions don't have to think, they're already rich so the uponit7771 Oct 2015 #79

Elizabeth Warren's own oversight of TARP... joshcryer Oct 2015 #88

Good points, but... JaneyVee Oct 2015 #92

When it comes to an important vote... joshcryer Oct 2015 #95

That's Mr.-takin' to you, buddy! appal_jack Oct 2015 #7

Obviously you have no concept how many people lives would have been destroyed if they didn't do the still_one Oct 2015 #14

Too big to fail. Time_Lord Oct 2015 #28

Dodd/Frank tries to address that, not completely however, but definitely a step in the right still_one Oct 2015 #51

Playing on fears; unqualified expert opinion. Nope. DisgustipatedinCA Oct 2015 #50

Hello my friend. Ben Bernanke does have the credentials. It wasn't fear mongering. still_one Oct 2015 #52

Why is this tool quote-worthy now? whatchamacallit Oct 2015 #16

Because Camp Weathervane thinks it helps their gal? WorseBeforeBetter Oct 2015 #32

Bernanke Faux pas Oct 2015 #20

I have to laugh when he says regulators and Congress didn't see it coming. WorseBeforeBetter Oct 2015 #27

Have people here forgotten Michael KingCharlemagne Oct 2015 #40

The Big Short: Inside the Doomsday Machine? WorseBeforeBetter Oct 2015 #76

They and their cheerleaders ABSOLUTELY think we're complete idiots Hydra Oct 2015 #83

Exactly, and that fucking 45-minute mushroom cloud. WorseBeforeBetter Oct 2015 #86

Bernanke's assessment is "mistaken." nt LWolf Oct 2015 #57

"Ben Bernanke Says"???? Bwahahahahahhahhaha. 99Forever Oct 2015 #59

Why do I think if people like Bernie had been able to wield more power Vinca Oct 2015 #66

Ben 'Binary Thinking' Benanke strikes again. Erich Bloodaxe BSN Oct 2015 #77

Please find the post I did here about how Sanders sold out Ron Paul when they Gloria Oct 2015 #85