Bernanke: Fannie, Freddie in no danger of failing

Better late than never, sleeping at the wheel? How about helping the people losing their homes..? I believe the worst is yet to come and Democrats will have to clean up this mess of irresponsible policies. Can McCain pay his taxes now that his wife sold Budwiser?

This one man, the chairman of the federal reserve, controls the US economy and therefore controls the world economy.

One man should not have that much power.

They need to put the the fed funds rate on a computerized system with known variables. This would prevent the wild market swings and allow people to plan for the future.

All other types of individual commodities and other types of more complex securities already use automated systems that allow traders to control prices long into the future. Bond prices could be set long into the future.

This would create stability in the market and lessen the impact of recessions in the business cycle.

People lose their jobs every time this man speaks. Billions of dollars are won or lost depending on what this one man says. That is absolutely wrong.

This man has become like J Edgar Hoover. He ruled the FBI, and Washington, from the time he was appointed director in the 1920's until the early 1970's when he died. We don't know if anyone else was involved in the JFK incident, but if any man did, it was Hoover. He ruled so long because all the presidents were afraid to remove him because he knew everything about everyone based on all the files he collected on everyone. This was America's secret police, the FBI, gestapo under Hoover. He had that much power, and the federal reserve chairman has even more.

Look at all the FBI directors Bush has been through. Now think of all the Republican and deomocrat administrations that came and went from the time of FDR to Nixon WHILE HOOVER WAS FBI DIRECTOR. As you can see, he was more powerful than the president because presidents could not remove him. They had to wait until he died in office like some third world dictator before they could replace him.

Is the dept. of Homeland Security now going to be the new J. Edgar Hoover? Probably.

The government created the federal reserve to control monetary policy and thereby blunt the downturns in the business cycle. That was a good step but they need to go one step further and now use supercomputers to automatically and predictably make the calculations to raise or lower the fed funds rate.

Do you know why they don't do this? Because all the politicians want this one man to have control so that they can control him. It is completely in the worst interests of the working stiffs like you and me, but the Washington politicians who get their insider trading info from the federal reserve like it that way because they make millions for themselves and their donors.

Do you think that FISA does not have the federal reserve chairman's phone tapped? Do you think that the FBI and Homeland Security are not notified beforehand of what the interest rate cuts or raises will be "as a matter of national security"?

Don't you think the contractors in Iraq are notified beforehand of what the changes in the interest rates will be "as a matter of national security?" don't you think other "allies" around the world are told of this beforehand? Don't you think that companies vital to national interests are given this corporate espionage beforehand to protect them from foreign competition?

Don't you think the leaders in Washington are told about this months in advance so that they can plan the economy? You bet they are. They are all in on it.

Wrong suckers! All those people know what the fed chairman is going to do beforehand, so they get the insider trading going which then screws the average Joe like you and me. They get away with it because no one understands this, but there you go.

The tech bubble and crash/recession and the housing bubble/crash/recession were not created by Bush or Clinton. They were created by Alan Greenspan. Why wasn't he fired after the tech bubble?

Do you really want to know how corrupt Alan Greenspan is? He is totally corrupt and he won't even sue me for saying that because I will subpoena all his financial records.

He is totally corrupt because the man who "surprisingly" made at least a BILLION dollars (with B) off the housing crash was exactly the same firm Alan Greenspan went to work with after he bailed when he created the current housing crash.

Alan Greenspan should be in prison. He is the Ken Lay of the US economy. He made billions while millions of us lost our jobs, houses, pensions, retirement, etc. He's sitting fat and happy and now lecturing us about how we were irresponsible with credit cards and mortgages. Look what they did to Martha Stewart, just as a publicity stunt to fool you into thinking that they were cracking down on corporate greed and corruption, when there is not comparison at all between what Stewart did and what Greenspan did.

Have you made money or lost money during this current recession? Who do you think got your money? Where did the money Greenspan's employer won come from? You and me, suckers. You lost money, that money went somewhere, right? for every seller there is a buyer. Greenspan, Inc., got your money, suckers.

At the very least, the federal reserve chairman needs to have a very limited term of 4 years that overlaps with each president's term.

Want to know why Bush won the second term? It's because Greenspan kept the interest rates low to keep the economy going. It is no coincidence that the bubble was created during the last presidential election and then crashed right after the election. Greenspan is a Republican as far as I know.

Thus the federal reserve chairman also controls the outcome of the presidential election, as Greenspan did.

This is not a republican vs. democrat issue. Why do you think Clinton said, "It's the economy, stupid?" This is a right vs. wrong issue. Look at that idiot Eliot Spitzer and all the phony investigations he did. Look at Scooter Libby. But Greenspan is not going to be even investigated for CAUSING TWO RECESSIONS AND COSTING THE US PEOPLE BILLIONS OF DOLLARS AND UNTOLD SUFFERING FROM ECONOMIC RECESSIONS?

The fed board should be allowed to tweak the automatic program but they should not be allowed to set these interest rates and these policies in secret.

How the Fed operates in the worlds crude oil arena.

HOW DOES THE US GET ITS DOLLAR ADVANTAGE?

"Imagine this: you are deep in debt but every day you write cheques for millions of dollars you dont have another luxury car, a holiday home at the beach, the world trip of a lifetime.
Your cheques should be worthless but they keep buying stuff because those cheques you write never reach the bank! You have an agreement with the owners of one thing everyone wants, call it petrol/gas, that they will accept only your cheques as payment. This means everyone must hoard your cheques so they can buy petrol/gas. Since they have to keep a stock of your cheques, they use them to buy other stuff too. You write a cheque to buy a TV, the TV shop owner swaps your cheque for petrol/gas, that seller buys some vegetables at the fruit shop, the fruiterer passes it on to buy bread, the baker buys some flour with it, and on it goes, round and round — but never back to the bank.
You have a debt on your books, but so long as your cheque never reaches the bank, you don't have to pay. In effect, you have received your TV free.
This is the position the USA has enjoyed for 30 years it has been getting a free world trade ride for all that time. It has been receiving a huge subsidy from everyone else in the world. As it debt has been growing, it has printed more money (written more cheques) to keep trading. No wonder it is an economic powerhouse!
Then one day, one petrol seller says he is going to accept another person's cheques, a couple of others think that might be a good idea. If this spreads, people are going to stop hoarding your cheques and they will come flying home to the bank. Since you don't have enough in the bank to cover all the cheques, very nasty stuff is going to hit the fan!
But you are big, tough and very aggressive. You dont scare the other guy who can write cheques, he's pretty big too, but given a 'legitimate' excuse, you can beat the tripes out of the lone gas seller and scare him and his mates into submission.
And that, in a nutshell, is what the USA has done with Iraq."

Iran is next. We will be told that the reason for invading Iran is because they are a potential nuclear threat to the world especially Israel and of course with all the terrorist bull@!$%# and evil doer comments to go along with it. But the fact remains that Iran does not want to sell its crude oil in exchange for US dollars. The Iranian Oil Bourse, is a commodity exchange which opened on Feb. 27, 2008. It was created by cooperation between Iranian Ministries and other state and private institutions. The IOB is a Petro-bourse (bank) for petroleum, petrochemicals and gas in various currencies, primarily the euro and Iranian "rial" and a basket of other major currencies. The geographical location is at the Persian Gulf island of Kish which is designated by Iran as a free trade zone..

So be prepared, we are entering some uncertain times here. The weakened US dollar (especially the Petro-dollar) is riding a high wire and can't hold on much longer.

Report that AP !

Glad to be renting and struggling at my minimum wage job. All the spoiled Americans who cry about having to pour milk from an inconveniently shaped jug at Wal-Mart will have to learn to live lean now. Welcome to the new "third-world" country on the global map.

Bernanke: Fannie, Freddie don't face failure

Fed chief tells Congress that mortgage giants 'adequately capitalized'

You want to know why they wont fail.

Us tax payers are about to get a multi TRILLION dollar bill. Watch and see. The feds are using yours and my tax dollars to bank roll his wall street buddies.