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Elizabeth Warren Torches Janet Yellen on Too-Big-To-Fail

Tyler Durden's picture




 

Submitted by Mike Krieger of Liberty Blitzkrieg blog,

Before you watch the video, I want to highlight an excellent article published this morning by Yves Smith over at Naked Capitalism titled, Yellen Tells Whoppers to the New Yorker. The title doesn’t do justice to the powerful and scathing critique of the fraud that is the current Federal Reserve Chairwoman. In a nutshell, the article exposes how Yellen’s acting routine is worthy of an Academy Award. In her role, she plays a caring, sweet, grandmotherly type figure all concerned about the poor and middle-class, when reality points to a career as a staunch, frontline protecter of the bankster oligarchy.

From Naked Capitalism (for background, much of the article is criticism of a propaganda piece on Yellen recently published by the New Yorker):

In other words, readers are supposed to take Yellen’s claims at face value, when the Fed’s policy of saving banks by goosing asset prices and convincing itself that ordinary people would benefit because the “wealth effect” would lead to more consumption. The result has been widening income and wealth disparity and corporate profits at record levels as a percent of GDP, meaning workers are getting less than they’ve ever gotten. Yellen as the head of one of the regional Federal Reserve Banks and member of the FOMC can’t escape from responsibility for these policies. And there’s no evidence of meaningful opposition; unlike some Federal Reserve presidents, like Charles Plosser and Dick Fisher, who have often taken issue with the Fed’s official position in their speeches, Yellen made little use of her bully pulpit at the San Francisco Fed.

 

Although these differences are significant, Lehmann overstates the dichotomy between monetarist followers of Milton Friedman and American Keynesians. In particular, Keynes himself debunked the “loanable funds” fallacy, that putting money on sale would induce businesses to take advantage of the cheap price and borrow and invest (the only ones that do are ones where the cost of money is a major product cost, and that’s financial players, who as we have found, plow it into speculation). Yet you see defenders of the Fed’s actions (usually making the argument that QE was beneficial, if less so than fiscal stimulus would have been) relying on “loanable funds” type arguments.

 

How about the most obvious answer, that Yellen is using this interview to run PR for the Fed. She leading a major institution that is under well-deserved criticism for its obvious preoccupation with banks during the crisis and post crisis period (and Lehmann takes note of that issue, pointing out that the central bank’s critics range from Rand Paul to Bernie Sanders). She’s trying to brand herself as a caring grandmother who can relate to regular folks because she came from the wrong side of the tracks, and the chump public should trust the Fed’s actions as embodying her professed world view. Lehmann promotes this effort to identify the Fed with Yellen’s supposed compassion for regular folk, starting with the article’s subhead: “How Janet Yellen is redefining the Federal Reserve.”

 

And this isn’t all she stood for. Contrary to her pious claims of empathizing with the downtrodden, if you read her testimony during the 1990s, she was regularly described by Senators during her tenure at the Council for Economic Advisers as one of the most hawkish members of the Administration. She advocated cutting veterans’ benefits. She pointedly refused to cite increased concentration in banking as an antitrust risk and approved of communications industry mergers. She supported cap and trade. She favored austerity for Mexico during its 1994-5 crisis. She also stood with Gene Ludwig complained about deadbeat borrowers declaring bankruptcy in 1997, which was tantamount to throwing her support behind the bankruptcy reform bill that eventually passed in 2005. Reversing that bill has been widely cited as one of the most powerful single steps the government could have taken to stem foreclosures, since the threat of bankruptcy would have forced more servicers to restructure mortgages.

 

At the Fed, Yellen is given more credit than she deserves for sounding some mild concern about rising housing prices. She’s also been cited as the best forecaster on the FOMC, but given how the FOMC failed to see the crisis coming, her “success” is tantamount to declaring her the winner of a height competition among peanuts.

 

Yellen’s contention that she’s really out to help little people would be far more credible if she acknowledged her past anti-middle class policy positions and claimed that she’d made a Pauline conversion. But her institutional and political loyalties preclude that.

Yellen’s acting performance is strangely reminiscent of one the most disingenuous crony billionaire operating in America today: Warren Buffet. There is no single person who has fooled more people, most of the time than hamburger eating, ice-cream cone licking, cherry coke slugging. “Uncle” Warren Buffet. As I wrote in the 2011 post, A Wolf in Sheep’s Clothing:

Anyone that has read these pieces for a while knows where I stand on Warren Buffett.  Namely I can’t stand him.  It has nothing to do with the fact that he has so much money.  I am not an envious person and moreover I think having wealth anywhere near his is more of a curse than a blessing.  The reason I can’t stand him is because he is a fraud.  While he may have been a great investor at one point, he is more of a great actor than anything else.  Here is one of the richest people in the world.  He sits there in Nebraska, chuckling, drinking his cherry coke and eating hamburgers in this pathetically obvious attempt to convince the masses he is “just like us.”  The term wolf in sheep’s was invented for guys like this.  Like most people out there I don’t like bad guys.  The trick; however, is that the most dangerous bad guys don’t come out and tell you they are bad guys and how they are going to fleece you.  What they do is pretend they are the good guys.  Pretend that they are on the side of the little guy or working for the “collective good,” which is a preposterous statement because there is no such thing.  Human desires and notions of what is a good life are as varied as the stars in the sky.  Once we start allowing officials or rich people to define “collective good” you can be sure we are finished.

Now here is Senator Elizabeth Warren torching the fraud Janet Yellen. Enjoy.

 

 

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Thu, 07/17/2014 - 23:40 | 4971904 Yen Cross
Yen Cross's picture

 Hoo wahhh wahhh  . I can only hope. Anything is better than Hitlery!

Thu, 07/17/2014 - 23:56 | 4971965 daveO
daveO's picture

That's why she's getting all the publicity. The nation is screwed.

Fri, 07/18/2014 - 00:58 | 4972090 wee-weed up
wee-weed up's picture

While I agree 100% about lyin' Yellen... I have major problems with someone like Fauxcahontas trying to call anyone out for dishonesty.

Fri, 07/18/2014 - 01:26 | 4972129 DoChenRollingBearing
DoChenRollingBearing's picture

You didn't write that comment!

Fri, 07/18/2014 - 07:36 | 4972531 Bendromeda Strain
Bendromeda Strain's picture

Her "baby", the CFPB (which was taken from her), is now an unaccountable bureaucracy that is allowed to match up credit card expenses to identifying data. All for your own freaking good, serfs.

Thanks for nothin', bitch...

Fri, 07/18/2014 - 08:24 | 4972641 Save_America1st
Save_America1st's picture

Elizabeth Warren is a dirt bag, just like all the rest.  Just because she says the right things doesn't mean a damn thing.  That's how these sociopaths operate.  Sometimes they actually will tell the truth, but it's only used as a mind fuck against the sheeple and so they can gain more power and control and wealth. 

Perfect example is that Alan Grayson douche bag out of Florida.  Yeah, he sounds great and as hard core against the Federal Reserve as Ron Paul when he talks about monetary policy.  He says all the right shit when it comes to that.  But that fucker is a lunatic, and the crazy came outta him big time during the obamacare debates before they rammed that bullshit through. Plus he's a big time TEA party hater.

He was so nuts that he actually got voted out during the next election cycle.  But then he contained the crazy the next time around, would not go away, and lied enough to convince the sheeple to vote him back in.  The election was most likely rigged in his favor because.

Warren is just another sociopath.  How come nobody holds her accountable for the lies she spewed about being native American indian in order to gain higher positions and political clout? 

Just another shameless, coniving, nefarious little scumbag sociopath like the vast majority of the political scum in this country.

Fri, 07/18/2014 - 08:36 | 4972684 Pig Circus
Pig Circus's picture

I predict this cunt will beat that cunt Hitlery to win the Demoratic nomination in 16. Hitlery just isn't bat crazy enough for the bat shit crazy party. Not that it matters nor that I give a shit.

Fri, 07/18/2014 - 11:07 | 4973465 SuperRay
SuperRay's picture

Listen, Warren might be a rich insider, but at least she's asking questions that need to be asked. Unfortinately, not very well. The exchange should have gone

Yellen: there are tens of thousands of pages.

Warren: why are there so many pages?

Yellen: because it's so complicated

Warren: but the reg states that when it's that complicated, it's too complicated and needs to be broken up.

Yellen:

Fri, 07/18/2014 - 13:19 | 4974195 marathonman
marathonman's picture

Think Warren would be any different than Woodrow Wilson, FDR, LBJ, Clinton, Obama?  I don't either.  All of those guys were sociopathic control freaks.  Warren will be also.  Her masters command it.

Tue, 08/05/2014 - 20:56 | 5051919 Oliver Klozoff
Oliver Klozoff's picture

Exactly.

She shoulda pounced on that like a hobo on a ham sandwich.

Fri, 07/18/2014 - 09:01 | 4972743 Toolshed
Toolshed's picture

The technique you describe worked perfectly for Obama.

Fri, 07/18/2014 - 09:09 | 4972780 Save_America1st
Save_America1st's picture

yup...major scumbag sociopath right there...worked perfectly for him, and the dumbed down sheeple will just keep on believing these frauds

Fri, 07/18/2014 - 10:41 | 4973280 Harbanger
Harbanger's picture

Warren is an even bigger lying progressive fraud than Obama. 

Fri, 07/18/2014 - 08:27 | 4972657 ATM
ATM's picture

Liawatha is the same as Buffet. A shedevil in androgynous clothing.

Fri, 07/18/2014 - 01:49 | 4972154 sylviasays
sylviasays's picture

While U.S. Sen. Elizabeth Warren sleeps in her $5 million mansion in Cambridge, and got paid $350,000 to teach just one class at Harvard, she had the audacity to say in an interview with Jon Stewart that “the system is rigged to benefit the rich.”

Yes, Sen. Warren, that would be you. Under a free-market, capitalist system, you became a U.S. senator and multimillionaire whose own net worth hovers around $14.5 million. Sen. Warren is in a group of real elitists. As members of Congress, they are entitled to participate in insider trading. If you did it, and if you were found having done it, you would be headed to prison.

Fri, 07/18/2014 - 03:00 | 4972254 SemperFudge
SemperFudge's picture

Every candidate who runs for president will be rich. Campaign finance laws have already made these candidates rich by the time they run for President. They commit to do interviews, make appearances at parties of private donors, sell books, etc. They exploit federal election and campaign finance laws and regs to increase the overall value of contributions and expenditures given to their campaign so they can spend on advertisements, strategists, consultants, wardrobes, etc. But by following this process, as a presidential candidate you are almost guaranteed to become wealthy.

Fri, 07/18/2014 - 06:16 | 4972407 max2205
max2205's picture

She calls her penis Clint

Fri, 07/18/2014 - 06:36 | 4972430 Wahooo
Wahooo's picture

Yes, the politicians and parties represent the interests of America perfectly. America for at least 100 years, maybe more, has been a nation run by and for the rich. The two parties are parties of rich people. To think that any of us poor and middle class are represented by any politician or party in Americha is simply naive.

Fri, 07/18/2014 - 07:57 | 4972581 oudinot
oudinot's picture

Regardless of her personal wealth she is an intelligent, credible  counterweight to the TPTB and should be supported not denigrated as you have done in your comments.

How many seanators stand up to the banks in this congress?

FDR was wealthy but helped the poor; JFK was wealthy, hell, even George Washington was wealthy.  Obviously, being wealthy,'elitist'  does not preclude someone from 'doing good' for the people.

Grab a brain , buddy.

Fri, 07/18/2014 - 10:10 | 4973061 Weisshaupt
Weisshaupt's picture

Yes, they helped themselves to the wealth made by others and then gave it to he poor to buy power and votes. But don't worry, Little Red Hen, Warren coined Obama's "You didn't build that" rhetoric. You didn't build the roads or schools -- so obviously a bunch of people who didn't build the roads, work in the schools, or produce anything anything for anyone else ( except a Vote for Warren and her ilk) are entitled to your money.

Want to help the poor - teach them to provide for themselves - don't make them dependent upon others for survival and then claim we owe them for sitting on their butts and living off the effort of others and providing nothing of value but a reliable vote for sociopath politicians.

Not to mention she is a proven LIAR. She deserves to be denigrated, as do you. She isn't "standing up to the banks" - she is proposing robbing them to buy votes with the money. She doesn't have a problem with the banks thieving - she just want her piece of the action.

Let me guess, you were all in on Hope N' Change before Obama betrayed you as well? And you think other people need to grab a brain?

Sat, 07/19/2014 - 19:24 | 4978313 BigJim
BigJim's picture

 FDR was wealthy but helped the poor

Gak! Pffffteeeew! Eaaaaarchhh!

Fri, 07/18/2014 - 07:59 | 4972584 oudinot
oudinot's picture

Regardless of her personal wealth she is an intelligent, credible  counterweight to the TPTB and should be supported not denigrated as you have done in your comments.

How many seanators stand up to the banks in this congress?

FDR was wealthy but helped the poor; JFK was wealthy, hell, even George Washington was wealthy.  Obviously, being wealthy,'elitist'  does not preclude someone from 'doing good' for the people.

Grab a brain , buddy.

Fri, 07/18/2014 - 09:49 | 4972942 Weisshaupt
Weisshaupt's picture

The only problem Warren has with "Too Big to Fail"  is that her cronies didn't get the money.

She doesn't object to a spoils system - only a spolis system where she doesn't benefit enough - just like everyone else on the political left.  

 

Fri, 07/18/2014 - 08:21 | 4972637 Eyeroller
Eyeroller's picture

Does Lie-awatha know something big is about to pop?

If so, then clips from the above video would have a huge impact in her presidential campaign.

Fri, 07/18/2014 - 09:11 | 4972786 drendebe10
drendebe10's picture

"There ain't nuthin uglier than an old white woman. "  Fred Sanford

Sat, 07/19/2014 - 19:26 | 4978319 BigJim
BigJim's picture

"There ain't nuthin uglier than Fred Sanford. "  --An old white woman

Fri, 07/18/2014 - 13:57 | 4974429 rbg81
rbg81's picture

You think Warren isn't an actor?  Trust me, she'll change her tune (+ her toon) big time if she ever becomes POTUS.  Just like another experience free, junior Senator who promised hope and change, only to become another cog in the Machine.

Thu, 07/17/2014 - 23:42 | 4971909 dirtyfiles
dirtyfiles's picture

poof and its gone....

Fri, 07/18/2014 - 00:29 | 4972033 boattrash
boattrash's picture

"poof and its gone...."

Speaking of gone, did you notice the blonde behind Ms. Warren? Gone between 5 & 6 Min in.

Thu, 07/17/2014 - 23:43 | 4971911 IANAE
IANAE's picture

'her “success” is tantamount to declaring her the winner of a height competition among peanuts'

 

...ahhh, the tallest midget argument...

Thu, 07/17/2014 - 23:45 | 4971915 Seasmoke
Seasmoke's picture

She is a Tribesman. 

Fri, 07/18/2014 - 00:59 | 4972096 bunnyswanson
bunnyswanson's picture

Not just a member of the tribe, but a little old lady, who requires time to spit out a thought, unsure at every turn about every answer but wanting to answer the question with no information at all.  We'll have a look at that and get back to you.

~They~ have chosen women in place to cause pause..granny wouldn't hurt a fly.

These ~people~ are despicable.  It should be a crime to answer a question with so many words that say nothing at all.  Manual:  Just eat up time Janet.  Then jump on the few available lifeboast with the rest of us, we'll watch the Titanic sink and make a toast with the finest sparkling wines before throwing the empty bottle at the sinking vessel....Mission Accomplished.  By Deception"

Fri, 07/18/2014 - 01:07 | 4972103 Crawdaddy
Crawdaddy's picture

TribesWOMYN you patriarchal bastard.

Thu, 07/17/2014 - 23:47 | 4971927 disabledvet
disabledvet's picture

In other news "Kosovo is getting stomped on. again."

What I find hugely ironic is "the market agrees with her" (meaning Yellen and treasuries.)

That's her job...safeguard the debt. Everything else is just Wall Street "blowtardism."

I am curious if a woman can just find herself standing there holding her dick in her hand like a man can. That's what days like today mean. "DIE PUNY HUMAN!"

As far as Elizabeth Warren goes she might as well be handing out speeding tickets at the Indy 500. "We don't need six million barrels of oil a day but more like sixty." She needs to google search "Hanna Reich" to get her head in the game here.

Fri, 07/18/2014 - 01:10 | 4972107 tickhound
tickhound's picture

In other, other news...

RanSquawkOntheStreet UPDATE: Subsidiary Corporate Whore to Disney Zerohedge announces...

"update-we-are-now-back-online-the-power-issues-we-were-experiencing-have-now-been-resolved-and-the-service-will-continue-as-normal-for-the-rest-of-the-session-apologies-for-any-inconvenience"

So even though you may be experiencing limited access, or are unable to reply, or are unable to search, or are unable to view the site without various bullshit floating around on your browser...

The problems have been resolved.

Et tu brute?

This site, like everything else, is falling off a cliff.

Thu, 07/17/2014 - 23:48 | 4971936 Ariadne
Ariadne's picture

The Giant Hole American Edition

Fri, 07/18/2014 - 01:35 | 4972145 RaceToTheBottom
RaceToTheBottom's picture

One two punch. Question is, who is one and who is two?

Thu, 07/17/2014 - 23:57 | 4971970 loveyajimbo
loveyajimbo's picture

Here is a  novel idea... how about an in-depth AUDIT of EVERYTHING that the Fed has done for the last 30 years?  Include in that a full audit of all physical gold, AND it's current and past encumberances... OR... a complete written explanation of every congressman that votes no on a Bill requiring such an audit... and why this audit is not reasonable and necessary...

Thu, 07/17/2014 - 23:57 | 4971975 blindman
blindman's picture

the head of the federal reserve is a female, what?
how did that happen? next thing you know ...
representative government with democratic tendencies
might break out in the form of public delusion.
it is a crazy life she said.

Fri, 07/18/2014 - 00:44 | 4972016 kahunabear
kahunabear's picture

I am very apolitical, but Warren is pretty much a rock star here.

Fri, 07/18/2014 - 10:13 | 4973084 Weisshaupt
Weisshaupt's picture

Let me guess-  Was Obama a rock-ster "there" a few years ago? 

Same old dupes. 

 

Fri, 07/18/2014 - 00:42 | 4972057 Agent P
Agent P's picture

This was fun to listen to while looking at the girl behind her.

Fri, 07/18/2014 - 01:28 | 4972130 TheLooza
TheLooza's picture

I waz looking at her the whole time too and too big to fail for the entire 7 minutes, myself.

Fri, 07/18/2014 - 05:32 | 4972360 Setarcos
Setarcos's picture

Me too, but clearly a vacant Bimbo good for only one thing, if she is not a feminist lesbian ball-breaker.

Who can tell these days.

Look nice can be pure bitch in a flash.

How do you tell the difference between a woman with PMT, or the menopause, and a terrorist?

With a terrorist you might have a chance of reasoning.

There are not many nice little old ladies, but there are plenty of nasty little girls who have stopped looking nice, such as Hitlery Clinton and Maggot Scratcher,

Yeah I have been bitten bad - lost severall houses and a much-loved daughter - but I remain a sucker, or would do if I retained my younger urges,

Socrates observed that an advantage of getting old is that one loses sexual impulses.

Fri, 07/18/2014 - 08:06 | 4972596 Ban KKiller
Ban KKiller's picture

She looks like a skank to me. A bank stooge of some sort...an extra in the role of a woman.

Fri, 07/18/2014 - 00:47 | 4972072 Spungo
Spungo's picture

Bitch, my tribe throws better spears than your tribe.

Fri, 07/18/2014 - 01:04 | 4972102 GreedKillz
GreedKillz's picture

Elizabeth Warren has been living off the Government since the 70's. She never had a real job like Obama and 

lived off her husbands money he made while working at NASA so don't give Warren any credit. She hasn't accomplished anything.

Fri, 07/18/2014 - 01:34 | 4972143 johnberesfordti...
johnberesfordtiptonjr's picture

Jamie... Jamie Dimon, is that you?

Fri, 07/18/2014 - 01:54 | 4972167 williambanzai7
williambanzai7's picture

I suppose if we are going to pay people, better to hear them attack people we don't like.

Fri, 07/18/2014 - 04:20 | 4972301 dogfish
dogfish's picture

Lip service.

Fri, 07/18/2014 - 02:29 | 4972215 fencejumper
fencejumper's picture

You are flat out wrong that Warren hasn't accomplished anything. 

Fri, 07/18/2014 - 04:55 | 4972333 Setarcos
Setarcos's picture

Please list/substantiate.

Fri, 07/18/2014 - 10:33 | 4973219 Weisshaupt
Weisshaupt's picture

She lied about her heritiage and got away with it.  That's something right?

Fri, 07/18/2014 - 04:52 | 4972331 Setarcos
Setarcos's picture

Obomber had a "real job".

Please elaborate.

Perhaps he had a secret life as a plumber, or carpenter, or ran an engineering company; but I never heard of it and even Ron Paul did very little doctoring, so name one politician who has had a "real job" for any length of time, if at all - unless you count the lawyer vulture class as being somehow productive, before moving into the parasite political class.

Fri, 07/18/2014 - 06:26 | 4972417 SilvertonguedAngel
SilvertonguedAngel's picture

Ron Paul delivered 4000 babies, kind of a lot of Doctoring, not to mention all the Doctoring he did in the ARMY.

 

So not really a good analogy.

Fri, 07/18/2014 - 07:42 | 4972548 Bendromeda Strain
Bendromeda Strain's picture

Ron Paul did very little doctoring

Toss out unsourced diarrhea much?

Fri, 07/18/2014 - 09:17 | 4972809 GreedKillz
GreedKillz's picture

You have incorrectly read my post people . I said Elizxabeth Warren has NOT HAD A REAL JOB JUST LIKE OBAMA HAS NOT.

I apologize for not elaborating 

Fri, 07/18/2014 - 01:31 | 4972139 RaceToTheBottom
RaceToTheBottom's picture

This is a very good article.  Thanks

Fri, 07/18/2014 - 02:13 | 4972192 joethegorilla
joethegorilla's picture

"I hope you would urge greater transparency with these banks" says the tough lawmaking Senator in closing.

This is as tough as it gets? We are fucked.

Fri, 07/18/2014 - 02:22 | 4972201 fencejumper
fencejumper's picture

Warren has the guts and intelligence and integrity this country needs right now...thanks, Elizabeth, for championing We the People.

Fri, 07/18/2014 - 02:41 | 4972229 Bear
Bear's picture

That's what many thought with Obama

Fri, 07/18/2014 - 02:52 | 4972244 LetsGetPhysical
LetsGetPhysical's picture

sucker

Fri, 07/18/2014 - 07:51 | 4972566 Bendromeda Strain
Bendromeda Strain's picture

I wouldn't laud the tranny Alan Grayson for her integrity... of course, if you are just a barking seal, then by all means have a fish.

Fri, 07/18/2014 - 10:01 | 4972991 Itchy and Scratchy
Itchy and Scratchy's picture

Princess Squatting Bull only 'champions' herself! Perfect political mandarin!

Fri, 07/18/2014 - 13:27 | 4974256 marathonman
marathonman's picture

Troll.

Fri, 07/18/2014 - 02:25 | 4972211 Paracelsus
Paracelsus's picture

The issue is accountability. Warren understands this.That's why they didn't want her on the Banking committee.

Pecora was a wild card as well but he worked out okay.After one or two were ordered to testify or face contempt charges things got rolling.

Sadly we need a couple thousand more Elizabeth Warrens to investigate and prosecute this filth.

Ask yourself this: Would Las Vegas be run like Wall Street?

                         "Boss,I am sorry to have to report that I lost $20 billion of your cash"

                          "Carmine,take this fella for a ride into the desert...."

Fri, 07/18/2014 - 02:40 | 4972225 Bear
Bear's picture

Warren May be very articulate but Dodd-Frank should never had existed and Yellen has no plan to comply with any law so this whole show is a waste of time

Fri, 07/18/2014 - 07:06 | 4972476 Otrader
Otrader's picture

We are trained monkeys to think in terms of law and order.  But, always....always keep this in mind when you see these bloodthirsty monsters at work:

 

"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild
 

Well, they have control of the nation's money.  And, until 'we the people' get it back, the largest wealth transfer in history will continue.  The only people who are not under their complete control are the East and guess what's going on over there.  No peace will come there until they submit like we have in the west.

"Whoever controls the volume of money in any country is absolute master of all industry and
commerce." — James A. Garfield, President of the United States


Fri, 07/18/2014 - 02:46 | 4972235 cobra1650
cobra1650's picture

This is PURE Fantasy...nice Kabuki theater from Warren.

Fri, 07/18/2014 - 06:10 | 4972392 Eirik Magnus Larssen
Eirik Magnus Larssen's picture

The worry is that Warren is ultimatily not very different in terms of serving the oligarchy. When an upper-middle class, rich, privileged and well-connected white woman pretends to speak on behalf of the disenfranchised, people have good reason to turn suspicious.

Fri, 07/18/2014 - 08:24 | 4972644 Stanley Lord
Stanley Lord's picture

Warren gamed the system for personal gain, we have seen enough of that, she's no good.

Fri, 07/18/2014 - 02:51 | 4972242 cobra1650
cobra1650's picture

Translation -- There is no fucking way JP Morgan will ever be resolved in an orderly manner...what a fucking stupid question?

Fri, 07/18/2014 - 05:17 | 4972355 JailBanksters
JailBanksters's picture

She keeps banging on about things are improving, but she never provides any proof or what is the source of Information she is quoting. She can say any jibber jabber and people will just say ah-huh, ah-huh and pretend they know what she's talking about.

Fri, 07/18/2014 - 07:53 | 4972571 Ban KKiller
Ban KKiller's picture

What cunt down votes this?

Fri, 07/18/2014 - 06:12 | 4972400 ArmyofOne
ArmyofOne's picture

Warren for President.

Fri, 07/18/2014 - 06:20 | 4972411 max2205
max2205's picture

Warren....the ultimate freeloader

Fri, 07/18/2014 - 10:25 | 4973151 Itchy and Scratchy
Itchy and Scratchy's picture

That sweetheart would sell her grandmother for $0.10!

Fri, 07/18/2014 - 06:21 | 4972414 petaloka
petaloka's picture

Has anyone ever seen Janet Yellen and Martin Short in the same room together?

Fri, 07/18/2014 - 06:35 | 4972429 no more banksters
no more banksters's picture

Leaked: Banksters promote further financial deregulation!

TTIP to be used as a key tool

http://failedevolution.blogspot.gr/2014/07/leaked-banksters-promote-furt...

Fri, 07/18/2014 - 06:37 | 4972433 stant
stant's picture

Battle of the bitches ,bitchez

Fri, 07/18/2014 - 07:01 | 4972464 AdvancingTime
AdvancingTime's picture

 Janet Yellen has been head of the Federal Reserve bank long enough that we no longer need to speculate as to her job performance. As we begin to critique her ability to perform we must remember perception is often just as important as reality. Another issue that comes into play is how you stack up or compare to the person who held the position previously, this often extends to style as much as it does to substance.

As expected it appears Janet Yellen has chosen to take us down the same the rabbit hole as Bernanke on a journey to prove that if we just continue doing what is not working, all will turn out fine. Caution, this path leads down, and down, and down, farther and deeper then most can ever imagine. If asked to critique "Old Yellar" now playing in theaters everywhere I would by way of the reasoning above have to give her the maximum two solid thumbs down. More on this subject in the article below.

 http://brucewilds.blogspot.com/2014/05/yellens-job-critique.html

Fri, 07/18/2014 - 07:46 | 4972552 Downtoolong
Downtoolong's picture

I listened to Yellen's responses three times and I still have no idea what she was even trying to say.

I imagine that's part of the plan too.

Fri, 07/18/2014 - 07:46 | 4972553 prymythirdeye
prymythirdeye's picture

IT'S A SHOW....IT'S ALL A SHOW...NOTHING MORE....THEY ARE ALL ACTORS THAT WEREN'T PRETTY ENOUGH FOR HOLLYWOOD

Fri, 07/18/2014 - 07:58 | 4972580 Eyeroller
Eyeroller's picture

What kind of mad world do we live in when it takes Lie-awatha to call out the Ponzi Munchkin??

Fri, 07/18/2014 - 10:08 | 4973045 Itchy and Scratchy
Itchy and Scratchy's picture

Amen brother. This is Socialist Nirvana! It won't take these sharing-and-caring visionaries long to blow the whole system up! Right out of their Marxist playbook!

Fri, 07/18/2014 - 08:00 | 4972588 Ban KKiller
Ban KKiller's picture

Yellen is a traitorous cunt. Sorry, l have no class but then again....Fuck you FED.

Tune in, turn on and drop out! 

Fri, 07/18/2014 - 08:04 | 4972591 MFL8240
MFL8240's picture

5 years after the fact and too late but good show!

Fri, 07/18/2014 - 08:13 | 4972617 RiskyBidness
RiskyBidness's picture

i think she is a member of the slap a hoe tribe!!

Fri, 07/18/2014 - 08:14 | 4972621 hangemhigh77
hangemhigh77's picture

What is with these name plates stating that these FUCKING CROOKS AND LIARS ARE "HONORABLE"??!! Give me a break. At the least it's fucking LAUGHABLE at the most it's INSULTING AND CRIMINAL. I'm for hanging Grandma Yellen, she's a scoundrel.

Fri, 07/18/2014 - 08:18 | 4972627 hangemhigh77
hangemhigh77's picture

How long can she stall is the plan. GET RID OF THE FED. HANG ALL BANKSTERS FOR TREASON. HANG ALL POLITICIANS FOR TREASON ENOUGH OF THIS BULLSHIT.

Fri, 07/18/2014 - 08:16 | 4972628 Stud Duck
Stud Duck's picture

Liz could of torn the spitting fool apart, but set her up t show how ignorant she is abut Fed policy!

Warren is the only person on the political landscape that appears to be a plausable contender for 2016. The Repub's don;t have anyone yet to agree on, and probably will pull the same rap and run another elitist like Romney.

Fri, 07/18/2014 - 08:17 | 4972630 tradewithdave
tradewithdave's picture

You didn't torch that.

Fri, 07/18/2014 - 08:23 | 4972643 tradewithdave
tradewithdave's picture

Wasn't it Carl Levin's job to put on these shows? Give Lizahontas a second passport for a job well done. I hear they're bulldozing for Carl's retirement condo. Beware the next missing Goldman laptop found in a NYC garbage room just may be yours...

Fri, 07/18/2014 - 08:25 | 4972651 Comte d'herblay
Comte d'herblay's picture

That ZH has chosen the word "Torched" J Yell, speaks to the further erosion of our language, its words, and their meanings.

If that was a torch job, then I'm Kate Upton's secret male lesbian lover. 

Come on, Tyler!   Call it like it was.  Warren brought out devastating proof (3,100 subsidiaries???)  legitimate points, J Yell obfuscate, confabulated, and gave an open signal to the TBTFFUckers  just like Al Greenspan, and the Ben Bernnank.

Then every one went home and laughed their asses off at the absurdity of that hearing.

TBTF is not only alive and well, it is now part of the clandestine Constitution, the real one, that is the authentic operating principle of american government for the 1%.

Dodd-Frank isn't worth the toilet paper Frank uses to wipe his ass after a buttfuck from Jerrold Nadler.

 

 

Fri, 07/18/2014 - 10:52 | 4973364 Harbanger
Harbanger's picture

The Article is from Liberty Blitzkrieg which is a progressive front, not ZH. 

Fri, 07/18/2014 - 12:36 | 4973934 Comte d'herblay
Comte d'herblay's picture

grrrr...

Fri, 07/18/2014 - 12:35 | 4973935 Comte d'herblay
Comte d'herblay's picture

So what?  ZH chooses those pieces from other blogsters.  IF Tyler does that, he ought to at least not buy into the relatively innocuous iteration of the facts, as a Torch Job.

Smacks of partisanshit for Warren.  

Fri, 07/18/2014 - 08:41 | 4972696 IPURDOM75
IPURDOM75's picture

Could someone remind Sen. Warren who are the FED's shareholders?

Fri, 07/18/2014 - 09:01 | 4972747 Freewheelin Franklin
Freewheelin Franklin's picture

I believe it was Shelia Bair that put together the "living will" thing. Yet, all of the banks that failed that fell under the jurisdiction of the FDIC resulted in a P&A. Not a single smaller bank was placed in receivership and liquidated. Bair was a large part of the reason why  the big banks got bigerer. However, I'm sure she was under a lot of pressure, and this "living will", was a last ditch attempt. 

 

Bair is tough broad with a lot of knowledge and if she wasn't able to do anythnig, I doubt very much Ms Warren will be able to do anything.

As good as some liberals are at cursing the Fed, they still love them. They just believe that the "new money" should go to the poor and Middle Class, and they can't get a grasp on the real cause of the problem. 

Fri, 07/18/2014 - 09:26 | 4972852 tradingdaze
tradingdaze's picture

You can't hide your lyin' eyes
And your smile is a thin disguise
I thought by now you'd realize
There ain't no way to hide your lyin eyes

-- The Eagles


Fri, 07/18/2014 - 09:32 | 4972868 roadhazard
roadhazard's picture

Repubicans hate Warren because she is not repubican. She would be a way better candidate than Hitlery because I do not believe she is a war monger.

Fri, 07/18/2014 - 09:34 | 4972887 B.J. Worthy
B.J. Worthy's picture

It's sad that only a statist like Warren is willing to call out Yellen on her BS.

Fri, 07/18/2014 - 10:25 | 4973063 Itchy and Scratchy
Itchy and Scratchy's picture

It's sad that either of these incompetant very dangerous visionaries are in any position of power or leadership! The inmates have taken over the asylum!

Fri, 07/18/2014 - 13:33 | 4974290 marathonman
marathonman's picture

Warren knows that socialism would collapse in short order without a central bank to buy all the government debt that the welfare state generates.  She's completely full of BS.

Fri, 07/18/2014 - 09:34 | 4972890 orangegeek
orangegeek's picture

one socialist attacking another socialist

 

nice circus act Warren - you're full of shit and the planet knows it

Fri, 07/18/2014 - 10:06 | 4972945 Itchy and Scratchy
Itchy and Scratchy's picture

Who better knows about fraud, corruption, extortion and theft no other than self promoting system user Princess Lie-a-watha? Early in her life she cliamed 1/24th native indiginous blood/dna based on the fact that her grandmother allegedly said she looked like a 'native princess' only! No tribe claims her as part of their clan in the USA. They keep detailed birthing records and believe she's a fraud! Indian Chiefs are very animated about the distain they have for her! She stays miles away from Indian tribes now after milking their hertiage to the limit! In the meantime she benefited with numerous handouts including enhanced welfare payments, paid access to top schools she would have never got into, and teaching opportunities at Ivy League schoools based on her phoney birth claims. She never joined at any native groups once she was accepted to top schools and said she was disappointed that she was never invited to Native Group 'dinner parties!' She played her 'ex-husband' like a Stratavaris and even wrongly claimed she was the first single mother to teach at Ivy league schools. As for Presidential Candidate ....................SHE'S FULLY QUALIFIED & PERFECT FOR THE JOB!        E.W. in'16!

Fri, 07/18/2014 - 10:43 | 4973293 Nehweh Gahnin
Nehweh Gahnin's picture

Sorry, Ms. Warren, but the taxpayers did not bail out the banks.  CONgress bailed out the banks, on the backs of the taxpayers.  There is a difference.

Fri, 07/18/2014 - 10:48 | 4973326 Itchy and Scratchy
Itchy and Scratchy's picture

She never cared WHO bailed her out when she gamed the system! Why should she now?

Fri, 07/18/2014 - 10:54 | 4973337 Pee Wee
Pee Wee's picture

It's exceptionally difficult to have any credibility whatsoever when you have a Nobel-chosen banker in your vagina - right Janet?

Mark these words, the worst of the "2008 financial crisis" is dead ahead and Yellen will be known as the one holding the strings assuring the crash no one saw coming.

Warren is a distraction for the Rodham-Rot that exists in every democrat conscience.

Fri, 07/18/2014 - 11:12 | 4973497 observiate
observiate's picture

yah but it'll become known as the the "2015 financial crisis" or the "2016 financial crisis" or whatever.  not many will understand that it will just be a continuation of problems not solved, to the contrary, exacerbated, since the 2008 one. 

Not many will understand, and as you well know the so called mainstream media damn sure ain't gonna tell the truth either.  And even though i thankfully jumped of the party-line Repubican band-wagon years ago, I can see it now:

2014 elections and Republicans sweep (with a few decent libertarians/constitutionalists in there maybe), just in time for the statist bureaucrat democrats at the Fed and Treasury to "release the dam" and unleash havoc in 2015....all in a great manipulation that will be blamed on the Repubs....who although i do not agree with most of them these days....are still the lesser of the evils, theoretically....

All this to say I refuse to give up hope that we can overcome this progressive era with a new free-market revolution.  I cannot give up hope and will not.  Because hope keeps me sane in the midst of the shit that's been going on.

Fri, 07/18/2014 - 13:41 | 4974328 marathonman
marathonman's picture

All I've got is a promise, 'And we know that in all things God works for the good of those who love him, who have been called according to his purpose.'  Romans 8:28

Fri, 07/18/2014 - 10:54 | 4973374 BigInJapan
BigInJapan's picture

Beating the war drums!

Fri, 07/18/2014 - 10:57 | 4973395 observiate
observiate's picture

i'd much rather be a sheep in wolf's clothing.  kind of robinhood-esque, yes?

Fri, 07/18/2014 - 12:00 | 4973681 pakled
pakled's picture

Wow. All Yellen was doing was running out the clock. No YES's or NOs to any answer. Yellen just kept giving the same answer over and over, sprinkling her sentences with the word "feedback', until finally they ran out of time. I would bet a nickel that that was her strategy going in.... run the clock out. There was not a shred of usable info in her replies. There was zero intent to actually address Elizabeth's questions.

The jury is back in for me on this woman.

 

(btw - watch Yellen's hands)

Fri, 07/18/2014 - 11:58 | 4973702 Downtoolong
Downtoolong's picture

3391 Registered Subsidiaries.

What are the chances Jamie Dimon can even tell you the names of ten percent of the people heading up those Subsidiaries, let alone whether a time-bomb like the London Whale or worse might be ticking at any one of them?

This process Yellen is talking about is an absurd farce. She might as well be handing out cocktail umbrellas to people standing in an avalanche zone.  

Fri, 07/18/2014 - 17:04 | 4975358 Vin
Vin's picture

Liz is just another commie running for Pres.

"The trick; however, is that the most dangerous bad guys don’t come out and tell you they are bad guys and how they are going to fleece you.  What they do is pretend they are the good guys.  Pretend that they are on the side of the little guy or working for the “collective good,” which is a preposterous statement because there is no such thing. "

She's one of the bad guys.  F##k her.

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