WHERE IS MY NOBLE PRIZE IN ECONOMICS???

03/20/2009

WHERE IS MY NOBLE PRIZE IN ECONOMICS???

Bernanke defends big bank bailouts

""NEW YORK (CNNMoney.com) -- Federal Reserve Chairman Ben Bernanke responded to ongoing criticism of the government's efforts to keep alive institutions it has deemed "too big to fail," saying that this is an "enormous problem" that needs to be addressed.
Speaking before a group of community bankers in Phoenix, the central bank chief argued that actions taken thus far to prop up the nation's largest banks have been extremely unpleasant, but necessary to preventing further harm across financial markets and the broader economy.
"I do not think we have had a realistic alternative to preventing such failures," he said."
" Many smaller community banks avoided making too many subprime mortgages and also did not own the types of toxic securities backed by these loans that have plagued big banks. """

I believe it is high time, as I have previously suggested, that Bernanke, Paulson and Geithner, Greenspan etal, not just be put on stand, or in congressional hearing, we need to give these "experts" lie detector tests, the FBI needs to be looking in to this mess that we are in, and find out who knew what and when and how this racket was continued. It is hard to believe that myself with no more than two quarters of economice saw this coming many years ago, while these giants of ecoonomics never saw it coming.

Once again, I am not worried about the hundred forty/ sixty million in bonuses, what I do want to know where the one hundred seventy BILLION to the AIG went to, how many individual millionaires and billionaires benefited from this bail out ( got the government, tax payer money) and that is the real story.

LIFE IS A GAME OF CONNECT THE DOTS, IF YOU DON'T CONNECT ALL THE DOTS OR DON'T CONNECT THEM IN THE RIGHT ORDER YOU NEVER GET THE PICTURE