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Peter Schiff - It's Not Our Fault

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January 08, 2010 – Comments (1)

It seems that the primary qualification needed by any chairman of the Federal Reserve is the ability to never admit error, no matter how damning the evidence. During his tenure on the job, Alan Greenspan set the standard for implausible deniability. But in a speech last weekend in Atlanta, current chairman Ben Bernanke did the Maestro one better. In a tortured academic dissertation, Bernanke explicitly denied any Fed culpability for inflating the housing bubble and for the financial crisis that began when it burst. Despite his best efforts, no one seemed particularly convinced. By taking such an absurd stand, he has destroyed any credibility he may have had left.

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1 Comments – Post Your Own

#1) On January 08, 2010 at 11:17 AM, 4everlost (29.50) wrote:

lol

" For those unacquainted with US history prior to MTV, "stagflation," an economic condition most associated with 1970's"...

Rec #8

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