While appearing before Congress, Federal Reserve Chairman Ben Bernanke was asked by newly-elected Rep. Charles Djou (R-Hawaii) whether or not the federal government has a plan to tackle the continuing financial crisis. Check out his answer:
Ben Bernanke
By Glenn Foden | December 23, 2009 | 4:04 PM EST
You can't get blood from a stone or get more milk from this cow. That doesn't mean they won't stop trying though.
By Jeff Poor | December 17, 2009 | 9:50 PM EST
If you believe polls, current Federal Reserve Chairman Ben Bernanke favorability has been slipping. A recent Rasmussen Reports poll indicates that only 21 percent of Americans favor his reappointment as the Fed chair.
And this hasn't gone unnoticed by some members of the Senate, where Bernanke's fate lies. Bernanke's reconfirmation passed through the Senate Banking Committee by a 16-to-7 vote on Dec. 17. But that margin calls into question how his reconfirmation vote on the Senate floor could go. And as CNBC "The Kudlow Report" host Larry Kudlow warned, that puts his reconfirmation in question.
"Look, ‘Helicopter' Ben passed the Senate Banking Committee vote on his reconfirmation," Kudlow said on his Dec. 17 program. "He got 16-to-7, but he lost seven votes. I think all the Republicans except Sen. Bob Corker voted against Bernanke, and they were joined by one Democrat, Sen. Jeff Merkley of Oregon. Now the reconfirmation goes to the floor of the Senate. So, I think Bernanke's reconfirmation could be in some trouble when that Senate vote occurs. I'm going to bet that most, if not all, of the 40 Republicans are going to vote against Bernanke and that they are going to be joined by a number of Democrats."
By Tim Graham | December 16, 2009 | 7:36 AM EST
This is sure to annoy Ron Paul fans. Time editor Richard Stengel announced this morning on NBC's Today that Federal Reserve chairman Ben Bernanke is Time's 2009 Person of the Year. Stengel called him the "most powerful, least understood" government official and a real force in the economy. Political timing may have helped. Matt Lauer joked that Bernanke goes to Capitol Hill tomorrow about his reappointment to the Fed, and he should just hold the Time cover up and say they have to vote for him now. Time could feel their choice helped shape the news, not just followed the news.
Alan 'GOP Wants You To Die Quickly' Grayson 'Apologizes' a Month Later for Vicious Sept. Sexist Insult
By Tom Blumer | October 29, 2009 | 12:14 AM EDT 
In late September, Florida Congressional Democrat Alan Grayson earned attention and apparently fawning support from the far left by describing the Republican Party's health care plan, as "1. Don't get sick; 2. And if you do get sick, 3. die quickly." Grayson's supposed apology for these over-the-top remarks on the House Floor -- remarks that would surely have earned him censure and relentless media coverage had he been a Republican criticizing a Democrat -- consisted of saying, as paraphrased by Clay Waters of NewsBusters, that his "remorse was not for Republicans, rather for the dead .... comparing the existing health care system to the Holocaust."
This is from a guy whose party has several go-to health care "experts" and others (e.g., Zeke the Bleak Emanuel, John "Sterilize The Water Supply" Holdren) who advocate what Sarah Palin correctly characterized as "death panels."
Little did we know that in September, Grayson made himself a House ogre with his floor remarks, he hurled a grievously sexist and offensive insult at a senior Federal Reserve adviser. Wait until you see what he called Linda Robertson on the apparently syndicated but apparently lightly heeded Alex Jones show (relevant audio begins at about 0:35 of the 1:43 YouTube video; Warning - Objectionable language follows):
By Jeff Poor | April 3, 2009 | 3:15 PM EDT
It came and went - and some might not have even noticed it - despite the seriousness of its use. On April 2, CNBC's Jim Cramer proclaimed the Depression over.
Throughout that day, the "Mad Money" host told viewers of MSNBC's "Morning Joe," CNBC's "Street Signs" and finally on his own program that the Depression was over and that we were on the verge of a bull run for the financial markets.
"We have reached the land of a thousand bull dances - phoney maroney, why? Because the market swallowed its Prozac," Cramer said on CNBC's "Mad Money" April 2. "And right now, right here on this show - I am announcing the Depression over!"
By Colleen Raezler | March 17, 2009 | 6:00 PM EDT
<p><object align="right" width="250" height="202"><param name="movie" value="http://www.eyeblast.tv/public/eyeblast.swf?v=ydkUuzkUQu&sm=1"></para... name="allowFullScreen" value="true"></param><embed src="http://www.eyeblast.tv/public/eyeblast.swf?v=ydkUuzkUQu&sm=1" allowfullscreen="true" align="right" width="250" height="202"></embed></object>Business and Media Institute's Dan Gainor appeared on Fox Business News "Money for Breakfast" March 17 to discuss the Obama economic team's performance in the administration's first 50 days. </p><p>Gainor dubbed Treasury Secretary Tim Geithner "the worst" because "when he came out and talked about the housing plan that he didn't have, the markets tanked." </p> <p>Ben Bernanke, Federal Reserve Chairman, earned a "B-minus," partly because "he showed his strength on Sunday" during a "60 Minutes" interview. Director of the White House's National Economic Council Larry Summers received a "C grade" for being "not great, not horrible."</p>
By Jeff Poor | December 4, 2008 | 4:43 PM EST
When Federal Reserve Chairman Ben Bernanke speaks, Wall Street listens - and investors should beware. The Dow Jones Industrial Average (DJIA) has lost over 2,500 points on days he has spoken, including three of the worst point losses ever.
Today's drop in the Dow of 215 points is the 14th time out of the last 20 times the Dow has lost ground on a Bernanke has spoken over the past six months. Bernanke gave a speech at the Federal Reserve System Conference on Housing and Mortgage Markets in Washington today, where he continued to hammer the message the economy is in bad shape.
"The U.S. financial system has been in turmoil during the past 16 months," Bernanke said. "Credit conditions have tightened and asset values have declined, contributing substantially, in turn, to the weakening of economic activity."
By Noel Sheppard | November 25, 2008 | 12:30 PM EST
Are the good folks at the New York Times breaking ranks and actually criticizing a decision by president-elect Barack Obama?
Such seemed to be the case Tuesday when the Gray Lady published, on the front page of the business section no less, an article highly critical of proposed Treasury Secretary Timothy Geithner.
Entitled "Where Was Geithner in Turmoil?", Andrew Ross Sorkin's piece actually pointed fingers at Obama's choice to head the Treasury department for his potential involvement in the nation's current financial crisis (emphasis added throughout):
By Noel Sheppard | November 9, 2008 | 1:07 PM EST
For years NewsBusters and its affiliate the Business & Media Institute have agonized over the astounding economic ignorance of many press members who despite their lack of financial acumen have the gall to offer their unqualified opinions to the public.
No finer example of a media member who should understand her limitations and keep her mouth shut during economic discussions was the Atlanta Journal-Constitution's Cynthia Tucker Sunday morning who on ABC's "This Week" actually said that all the problems in the financial services industry would have magically disappeared if only the Bush administration would have bailed out individual homeowners.
Maybe more interesting was that she began her nonsensical accusation by saying, "I've never understood." As this was the most accurate statement she made concerning this matter, she should have stopped there.
Sadly, she didn't (video available here, relevant section at 11:33, file photo):
By Tom Blumer | October 15, 2008 | 3:16 PM EDT
Gee, and I thought I might be pushing the envelope on September 28 when I expressed concern that the "bailout" with the made-up $700 billion price tag that turned into the pork-loaded "bailout" with the made-up $850 billion price tag "blackmail" (though "extortion" may be the more appropriate word).
It is clear that this is indeed the case, at least twice over. First, there were the threats made by the Treasury Secretary, the President, and the Fed Chairman warning of a banking Armageddon if Congress didn't pass the bill.
Now there's clear evidence, reported with stunning casualness by CNBC, that Paulson & Co. threatened the big banks in some way to force them to "accept" Uncle Sam's preferred equity investments:
By Noel Sheppard | October 12, 2008 | 1:13 PM EDT
As a result of the stock market collapse in the last four weeks, the economy has become the most important issue on the minds of voters.
Yet, as Barack Obama has clearly benefitted in the polls during this period, the media have refused to examine the records of the two presidential candidates as it pertains to policy proposals they have recommended or supported that might have averted this crisis.
Is this because John McCain has clearly been more out in front of this issue than Obama, and if the press actually did their job and told the American people this it might negatively impact the junior senator from Illinois's campaign?
Consider what McCain said during Tuesday's debate after being asked a question by Tom Brokaw concerning the condition of the economy (photo courtesy ABCNews.com):