Translating The Gobbledegook
They're clueless liars. by Mish Shedlock
"Inquiring minds are asking "To what extent is the Fed is in the dark?" Amazingly Bernanke answered that question today in Congress with complete candor. All you need to know is how to translate his statements. Please consider Bernanke tells Congress Fed knows what it is doing .
Federal Reserve Board chairman Ben Bernanke tried to assure Congress and investors that federal regulators are not grasping at straws in the response to the financial crisis."We're not making it up," Bernanke told the House Financial Services panel."We're working along a program that has been applied in various contexts.""We're not completely in the dark."
My Translation : "We're making it up as we go along""We have no idea what we are doing so the program changes every day""We are completely in the dark"
Bernanke is trying to reinforce his message to Congress that the Fed and the Obama administration now have at least the outlines of a bank rescue plan in place that will show results over time and that banks are not on an out-of-control course to nationalization.
My Comment : The only reason banks are not on an "out-of-control course to nationalization" is Bernanke is on an "out-of-control" mission to rescue banks regardless of what it costs taxpayers.
Bernanke assurance Tuesday to the Senate Banking Committee that the federal government doesn't want to nationalize the nation's largest banks was cited as a major factor in the stock market's rebound. Bernanke said regulators would ensure than banks did not turn into zombie banks.
My Comment : Now Bernanke wants to take credit for a one day relief rally as if correlation was causation. Furthermore, it's impossible for banks to turn into Zombie banks. They are already Zombie Banks, kept alive by the blood of taxpayers as explained in Bernanke's Hide and Seek Delaying Tactics .
Bernanke said that the government was prepared to inject capital to fix holes in the banks caused to the sudden sharp drop in their assets. But the size of the holes remains an open question.
My Comment : If the size of the holes is "an open question" then so is the amount of taxpayer blood needed to rescue them.
Rep. Barney Frank, the Massachusetts Democrat and chairman of the House panel, told members to curb their anger for the cost of the bailout. He said that it was impossible to send all culprits in the crisis to the gallows.
My Comment : For starters we should send the Fed, Geithner, and Barney Frank to the gallows."
"Inquiring minds are asking "To what extent is the Fed is in the dark?" Amazingly Bernanke answered that question today in Congress with complete candor. All you need to know is how to translate his statements. Please consider Bernanke tells Congress Fed knows what it is doing .
Federal Reserve Board chairman Ben Bernanke tried to assure Congress and investors that federal regulators are not grasping at straws in the response to the financial crisis."We're not making it up," Bernanke told the House Financial Services panel."We're working along a program that has been applied in various contexts.""We're not completely in the dark."
My Translation : "We're making it up as we go along""We have no idea what we are doing so the program changes every day""We are completely in the dark"
Bernanke is trying to reinforce his message to Congress that the Fed and the Obama administration now have at least the outlines of a bank rescue plan in place that will show results over time and that banks are not on an out-of-control course to nationalization.
My Comment : The only reason banks are not on an "out-of-control course to nationalization" is Bernanke is on an "out-of-control" mission to rescue banks regardless of what it costs taxpayers.
Bernanke assurance Tuesday to the Senate Banking Committee that the federal government doesn't want to nationalize the nation's largest banks was cited as a major factor in the stock market's rebound. Bernanke said regulators would ensure than banks did not turn into zombie banks.
My Comment : Now Bernanke wants to take credit for a one day relief rally as if correlation was causation. Furthermore, it's impossible for banks to turn into Zombie banks. They are already Zombie Banks, kept alive by the blood of taxpayers as explained in Bernanke's Hide and Seek Delaying Tactics .
Bernanke said that the government was prepared to inject capital to fix holes in the banks caused to the sudden sharp drop in their assets. But the size of the holes remains an open question.
My Comment : If the size of the holes is "an open question" then so is the amount of taxpayer blood needed to rescue them.
Rep. Barney Frank, the Massachusetts Democrat and chairman of the House panel, told members to curb their anger for the cost of the bailout. He said that it was impossible to send all culprits in the crisis to the gallows.
My Comment : For starters we should send the Fed, Geithner, and Barney Frank to the gallows."
posted by nolocontendere at 7:29 PM
2 Comments:
new faces doing the same dancing puppet routine.
In all my doddering years I've never seen a more in your face financial ass fucking than what we're going through now, and I ain't the one in the rear.
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