Wednesday, December 16, 2009

I mean, come on! Really!

I don't have time to allow my simmering outrage to boil over just now, but this is ridiculous.

Ben Bernanke is Time Magazine's Person of the Year.

This is the despicable marriage of corporate, media, government and banking interests at work.

Best quote from the stroke-piece:
So when turbulence in U.S. housing markets metastasized into the worst global financial crisis in more than 75 years, he conjured up trillions of new dollars and blasted them into the economy; engineered massive public rescues of failing private companies; ratcheted down interest rates to zero; lent to mutual funds, hedge funds, foreign banks, investment banks, manufacturers, insurers and other borrowers who had never dreamed of receiving Fed cash; jump-started stalled credit markets in everything from car loans to corporate paper; revolutionized housing finance with a breathtaking shopping spree for mortgage bonds; blew up the Fed's balance sheet to three times its previous size; and generally transformed the staid arena of central banking into a stage for desperate improvisation. He didn't just reshape U.S. monetary policy; he led an effort to save the world economy.

No wonder his eyes look tired.

Aside from the fact that it's a weird lie that turbulence in the U.S. housing market was the cause of the global financial meltdown, why are we praising this guy for the actions delineated? He's the frontman for the most dangerous and powersucking criminal organization with which the world is currently confronted. "No wonder his eyes look tired."

Assholes! I knew it! I'm Surrounded by Assholes!



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