Bernanke Admits More Of His Mistakes

Tyler Durden's picture

On the heels of yesterday's confessions (as we detailed here), ex-Fed chair Ben Bernanke continues his contrition:

  • *BERNANKE SAYS HE UNDERESTIMATED IMPACT OF SUBPRIME PROBLEM
  • *BERNANKE SAYS HE THOUGHT SLOWDOWN WOULD BE 'MODERATE'

But apart from that, "nailed it." What a great way to earn $250,000 per appearance (a year's Fed salary): by admitting your mistakes destroyed the middle class.

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BeetleBailey's picture

BB needs to be hooked up to a polygraph, waterboarded, and get electro-shock treatment.....

 

JUST FOR FUN!

 

THEN....ask him to reveal more....

Rodders75's picture

You're too kind. But if you're talking about electro shocks to his hairy, sweaty nuts then I take that back. 

Divided States of America's picture

The biggest mistake is he is a zionist mofo.

johnQpublic's picture

i really dislike this guy

i think i'll unfriend him on facebook

 

 

MagicHandPuppet's picture

When should we expect his "suicided" expiration date to be?

overmedicatedundersexed's picture

ol race to the b...no let's not complain about IN YOUR FACE bribes and corruption, lets concentrate on BLS and economic data from .gov , or economic theory you know important stuff like M2 or current PE of S&P 500.

nope-1004's picture

 

 

  • *BERNANKE'S POLICIES SO EFFECTIVE HE QUIT
Town Crier's picture

This guy was appointed because he is a highly articulate company-man.  Wish I had a clip of his acceptance speech.  I remember thinking, this guy thinks he's arrived and has nothing more to do.  

TahoeBilly2012's picture

He said he didn't think enslaving the goyim for eventual one world currency could ever be so much work, and that he heard the security state was having almost as much trouble, but that in the end they would get the New World Order they were seeking.

NoDebt's picture

His biggest mistake was being in the Chairmanship when the world was accidentally given an up-close-and=personal glimpse of the gigantic ponzi scheme that is the world's financial system in 2008-2009.

For a brief time, what was supposed to be securely hidden from view was put on display in all it's naked hideousness.  Bail-outs, money printing, raping of taxpayers to "save" banks, corrupt and illegal deals made in back rooms, cooked books- the whole enchilada.  It's all been covered up again now and we've been told to move along and forget what we saw.  But it's tough to un-see something like that.  We remember.  We will always remember.  

To the good:  Out of this was born ZeroHedge.

El Oregonian's picture

He's nothing more than a manipulated puppet screw-up. Nothing more.

sunaJ's picture

"Moderate slowdown" is what he thought? I seem to remember threats of war and tanks in the streets if there was no intervention. He prints and he thought that would create a moderate slowdown instead of delaying and making worse the necessary correction, huh? Money for nothing and the fix for free, I guess is BB's favorite song and economic theory.

Woodyg's picture

They print, and print and print and give out Moar! Jackola -
These jackals have handed out and received anywhere from 15-25 trillion in emergency loans etc /
And they still trot out the Sub Prime bullshit -
The Entire Residential Mortgage market is around 12 trillion - not just Sub Prime mortgages - ALL of them!
So we've handed the banks more than enough to pay off every Single mortgage in America -
Of course that would enrich average everyday citizens AND bail out the banks - as the mortgage (and stick built house) is the underlying asset.
But hell that might have actually trickled down to the Muppits.
Can't have that!
Where the drone strike when we need it?

BandGap's picture

One can only hope for justice, William.

NoDebt's picture

The battered wife with two black eyes still sitting next to her man drinking, knowing it's the alcohol that usually sets him into a violent fit of rage.  That one works at a lot of levels.  Very well done.

I regret that I have but one upvote to give.

 

Ignatius's picture

WB7 does absolutely nail it from time to time.

PLJson's picture

What do you tell a wife with two black eyes?  Nothing...you already told her twice!

BandGap's picture

Who cares? This is what "they" get when they trot this asshole out after his tenure -

  • Waste of time considering "what could ahve been done" - not like they are going to correct anything
  • Takes focus away from what is currently going on - another win, it's not like "they" aren't still robbbing us blind
  • Allows us to attack someone who clearly doesn't give a shit. Hey, hand me 100 million and you can say anything you want about me.
  • False sense of "new". Yellen gets to do all those things that "didn't work" for Ben. Think about it.

Consider what transparency means AFTER "retiring". Really, who gives a shit. Focus energies on the here and now. This guy will be best judged by the history happening NOW.

highly debtful's picture

Why are these guys always granted an extremely well paid afterlife?

Boris Alatovkrap's picture

Fiat is get ripped off because Bernanke is no soul.

Boris Alatovkrap's picture

Lucifer is has great pension plan for minion.

Boris Alatovkrap's picture

Or "Open Sin" (Not sure what is mean, but anagram is fun entertaining)

Comte d'herblay's picture

I assume you are being sarcastic, but in the event you are asking because you don't know why:

The FED chairman and the other members of the 12 Federal Reserve Banks (the name of the Federal Reserve cries out to be changed to something far more sinister and indicative of its true mission) are charged with the sworn duty to protect the top 1% of human beans in the world.

That is their only responsibility.  The bullshit that they feed to the public is as truthful as a bill clinton statement about anything.

The crap that Greenspan, Bernanke, and now Yellen, Jews, each and every one of them, in control of printing the money, new money given to the worst financial criminals to ever go unindicted, should turn on some alarm bells as to who among the other so-called banks, like Goldman Sucks, and the surrogate banks, the insurance companies, are profiting the most from Ben's keypad entries of free money. 

The $250,000 may sound like a lot but I can guarantee that some Swiss gnome has many billions on deposit for transfer to Greenspan, Bernanke and in her time, Yellen. 

 

Kayman's picture

"Why are these guys always granted an extremely well paid afterlife?"

If you "gifted"  $3.5 trillion to the incompetent, criminal banking cartel, then you would have some friends too.

BandGap's picture

To keep their mouths shut and continue shilling for the current life.

Chief Wonder Bread's picture

-- Why are these guys always granted an extremely well paid afterlife?

It serves two purposes:

1) It's payment for services rendered.

2) Sends the required message to all that follow.

Chairwo[   ] Jam-it will be rewarded similarly.

Just as Greedscam has been and is being rewarded for past services.

It's become so accepted that you might say it's 'hidden in plain sight', not even newsworthy. But ask yourself this question, 'Are a few remarks by one of these 'wizards' really worth 250 per appearance? To whom? [wink wink nod nod] OF COURSE THEY ARE (Just not to anyone among the general public trying to gain insight into their thinking).

Pareto's picture

"Mr. Chairman, can I ask you, do you do your own grocery shopping?", or "So, Mr. Chairman, is gold money?" (Ron Paul, 2012).

ejmoosa's picture

I bet the cocksucker is buying gold now.

Max Damage's picture

Bernanke says he didn't realise Janet was such a looker, when he recommended her for the top job, meaning we have the pleasure of admiring her physical form on a regular basis!!!!!!!

 

See I can lie just as good as the Banksters

Boris Alatovkrap's picture

If Bernanke is write memoir about mistake only, is very large tome.

johnQpublic's picture

is making 'war and peace' look like comic book

Boris Alatovkrap's picture

Is only make war, no peace for Uncle Ben.

icanhasbailout's picture

I got an advance copy. All he did was enter a thousand pages of ones and zeroes and hit "print".

Boris Alatovkrap's picture

Now is print, distribution channel is drop from helicopter.

medium giraffe's picture

Has he apologised for being born yet?

Cursive's picture

Only in modern times would someone be paid for giving a confession.  Hey people, this is a free and private service to Catholics.

TeamDepends's picture

"Irrational exuberence" is taken, Benny.

Ignatius's picture

Is "oops" still available?

Incompetence.  What a 'cover'.

Theta_Burn's picture

Other than the huge payday.

The consequences will be?

Grande Tetons's picture

Look at a good number of these bastards...Berananke, Dimon, DICK FULD, Greenspan, Draghi...on and on. Most look like miserable pricks that can not find enjoyment in their pothetic lives. They got money...whopdeefucking doo. 

Blankfein...now there is a happy motherfucker. He takes pride in fucking the masses..

http://hapstancedepart.files.wordpress.com/2011/01/090225-blankfein-225....

Charles Nelson Reilly's picture

wife and I are looking for houses.  I'm not a stupid fuck impulse buyer w/ a bitch of a wife who has to live in some sort of "it" neighborhood so she can tell her friends she has a 4000 sq ft behometh that we paid $500k for.  I really detest those fucking people.

Anyway, in real estate they call it the 7 year itch.  People who bought at the height of the bubble in 06', 07' & 08' are putting their houses on the market now cause they've been in them for 7 years.  Thier listing prices are close to what they paid at the height, a clear indicator to me that the real estate bubble is close to where it was back in the hey day.

Fuck You Bernanke!

Maximilien Robespierre's picture

Charles, come on.  "Asset prices are determined by the free market".  You should know that by now.

fonzannoon's picture

my 7 yr itch is like one of those itches you get on your foot when you are driving. I can't reach it and it's driving me fuckin nuts and if i reach any further i'm going to drive off the road. I bought in 07 ended up dumping a big chunk of change into my money pit and would be lucky to take a 50k loss if i sold it today, and i'm in a solid area, all things considered. 

johnQpublic's picture

50-60k loss for me not counting agent and moving costs

fuck it

sunk costs and i'm not getting it back

but the consolation prize is i'm outa here

37 days to go

Maximilien Robespierre's picture

Buy a farm.  Learn to homestead, downshift 3 gears in stress and grab some popcorn on the way from your non-GMO corn...

 

Crank it up.  http://www.youtube.com/watch?v=SHhrZgojY1Q