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Bernanke Testimony Reprise: This Time With Maxine Waters And Barney Frank

Tyler Durden's picture





 

Ben Bernanke's prepared remarks in today's second session of his semiannual Humprhey Hawkins testimony will be identical to yesterday's, but one thing is certain: the questions asked of the Chairman will be far more colorful, courtesy of the inquiry of such penetrating financial experts as Barney Frank and Maxine Waters et al.

 


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Wed, 07/18/2012 - 10:01 | Link to Comment Doubleguns
Doubleguns's picture

I thought Barney was on his honeymoon.

Wed, 07/18/2012 - 10:07 | Link to Comment Clueless Economist
Clueless Economist's picture

I have fantasies of rubbing Barney's tubby, tummy fat with my hands and kneading it like dough and then licking his spittle covered chin.

Is this normal?

Wed, 07/18/2012 - 10:08 | Link to Comment Temporalist
Temporalist's picture

Hopefully when he's in jail with the rest you'll get to have conjugal visits or be his cellmate.

Wed, 07/18/2012 - 10:21 | Link to Comment BaBaBouy
BaBaBouy's picture

The Big Question is...

 

Will Barnie Have his wonderful NEW Bride on his lap ???

 

Thats will be the main point of this Whole EVENT...

Wed, 07/18/2012 - 10:25 | Link to Comment orangedrinkandchips
orangedrinkandchips's picture

of course.....

 

they will talk about the first thing that pops up!

 

 

Wed, 07/18/2012 - 10:47 | Link to Comment Nothing To See Here
Nothing To See Here's picture

Barney Frank or Maxine Waters questioning The Bernank amounts to having Frank Drebin on the trail of Maddoff.

Wed, 07/18/2012 - 11:54 | Link to Comment strannick
strannick's picture

Bernanake has a big brain. Waters is a Lilliputian barking up at him on issues that arent relevant to the Fed. Lets hear some questions on gold swaps, and derivative interest rate swaps

Wed, 07/18/2012 - 13:35 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Bernank walks Maxine Waters through remedial math. Details at 11 pm.

 

Bernank:   

"Ok, Maxine, now you carry the 1, and then...."

 

Yeah....Bernank has such strong oversight. /sarc

Wed, 07/18/2012 - 10:27 | Link to Comment BaBaBouy
BaBaBouy's picture

Looks Like The BEN'ster Needs Lots of fecking Water ...

Wed, 07/18/2012 - 10:44 | Link to Comment optimator
optimator's picture

That's not water, it's Graves.

Wed, 07/18/2012 - 10:29 | Link to Comment insanelysane
insanelysane's picture

There is a tape of Barney on a hearing of Fannie and Freddie from a few years back.  Some $100k/year auditor is saying how he thinks these orgs are in trouble and Barney, who at the time was in some relationship with the head of Fannie or Freddie, is just berating this guy and telling him he doesn't know what he is talking about.  Of course the bonuses paid out are large multiples of the poor auditor's annual pay and Barney gets campaign contributions from the orgs but who is looking.

Now we have another drunken Kennedy (redundant) move from the rich towns to Barney's district to take his spot at the trough and keep the USSA moving in the left direction.

Wed, 07/18/2012 - 10:40 | Link to Comment Benjamin Glutton
Benjamin Glutton's picture

Why am I not surprised the GOP committee chairman does not know the difference between the words FISCAL and PHYSICAL?

Wed, 07/18/2012 - 11:31 | Link to Comment Plausible Denia...
Plausible Deniability's picture

That exchange between Frank and Bernank was akward, sort of pornographic. I felt like I was watching them give each other hand jobs. Very funny to watch Bernanke, the man who confidently stated "Subprime is contained", gloat because the CPI has moved downward and he "has been right". Really? I'm spent. This is the biggest rigged bullshit game I have ever seen. After that bad jobs report a month ago, SP bottomed out around 1270 I think. We are up nearly 100 points on what? Fuck it. I will just keep playing it. Go short in a big way the minute the VIX hits 14.5. Liquidate when it hits 23. I should have been a fireman.

Wed, 07/18/2012 - 12:16 | Link to Comment Sophist Economicus
Sophist Economicus's picture

OR THE PRESIDENT BETWEEN PARALEGAL AND PARAMEDIC

Wed, 07/18/2012 - 12:02 | Link to Comment Chuck Walla
Chuck Walla's picture

Will Bawney be Fwank with Benny?  

Wed, 07/18/2012 - 10:09 | Link to Comment Doubleguns
Doubleguns's picture

As normal as the wedding vows.

Do you promise to love each other and be each other’s best friend,

In sickness and in health,

In Congress or in retirement,

Whether the surf is up or the surf’s flat,

For richer or for poorer,

Under the Democrats or the Republicans,

Whether the slopes are powdery or icy,

Whether the book reviews are good or bad,

For better or for worse,

On MSNBC or on Fox,

For as long as you both shall live.

Wed, 07/18/2012 - 10:09 | Link to Comment ZippyBananaPants
ZippyBananaPants's picture

Barney is eating his top lip, must be some jizz dried on it.

Wed, 07/18/2012 - 10:12 | Link to Comment MillionDollarBonus_
MillionDollarBonus_'s picture

I’ve just run the numbers on gold, and I'm afraid the results were not pretty. In 2010, the average mining cost for gold was $542 per ounce. This means that miners are currently turning over $1038 per ounce of gold mined. This is likely to translate into a huge supply glut that will crush goldbugs and wreak havoc on already tortured gold stock portfolios.

The numbers for silver are even uglier. Using the same method, I calculate that silver is currently trading at a premium of over $20 per ounce. Not only this, but graphite is set to replace many of the industrial uses of silver, making it largely useless as an industrial metal.

 

Meanwhile, the fundamental picture for gold and silver just keeps getting worse. As the Eurozone crisis persists, people appear to be losing faith in gold as a safe haven and instead turning to US treasuries for protection from global market turmoil. With the ten year yield at 1.48%, and gold still under $1600 per ounce, things are looking bleaker than ever for goldbugs. All in all, the horizon for precious metals is dismal, and investors would do well to approach this market with both caution and skepticism. 

Wed, 07/18/2012 - 10:13 | Link to Comment fuu
fuu's picture

$5 to dig up the silver?

Wed, 07/18/2012 - 10:14 | Link to Comment buzzsaw99
buzzsaw99's picture

Silver is merely a dross byproduct of copper production. [/troll]

Wed, 07/18/2012 - 11:00 | Link to Comment Manthong
Manthong's picture

Whew..

It is comforting to know that after the dollar bubble bursts I have an ample supply of #2 pencils that will be willingly accepted in exchange for stuff I need.

Wed, 07/18/2012 - 20:14 | Link to Comment eatthebanksters
eatthebanksters's picture

MDB...you fucking moron, don't you read the news?  http://www.kitco.com/reports/KitcoNews20120717DeC_meg.html

Everything yo said was wrong...as usual...unless you're living in 2010 today...

Wed, 07/18/2012 - 10:15 | Link to Comment I think I need ...
I think I need to buy a gun's picture

laughing,,,just laughing mdb

Wed, 07/18/2012 - 10:16 | Link to Comment Tinky
Tinky's picture

"This is likely to translate into a huge supply glut that will crush goldbugs and wreak havoc on already tortured gold stock portfolios."

This may be the single most amusing 'analysis' you've presented. And that's saying something.

Wed, 07/18/2012 - 10:27 | Link to Comment drmfh
drmfh's picture

You guys still don't get the fact the MDB is a mastery of irony. Read his posts from the perspective that he means the exact opposite of his thesis and you will enjoy tremendously.

Wed, 07/18/2012 - 10:28 | Link to Comment Temporalist
Temporalist's picture

I don't think you get that people get what you think they don't get.

Wed, 07/18/2012 - 11:04 | Link to Comment SmackDaddy
SmackDaddy's picture

That should be the definition of irony in Webster's

Wed, 07/18/2012 - 12:51 | Link to Comment akak
akak's picture

An AnAnonymous might say, your analysis is truly and profoundly something, the very crustiest bit of the nib.

Wed, 07/18/2012 - 12:55 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

Somehow that is very something, crustiness parangongulated muchly.

Wed, 07/18/2012 - 10:17 | Link to Comment I Am Not a Copp...
I Am Not a Copper Top's picture

OK you've convinced me.  I will sell it all.  Thanks

Wed, 07/18/2012 - 10:21 | Link to Comment Winston Churchill
Winston Churchill's picture

UST's safe.

HAAAAAHAAAAAHAAAAAHAAAAHAAAAHA

 

G.M.

Wed, 07/18/2012 - 10:40 | Link to Comment Tunga
Tunga's picture

All your Bucky balls are belong to us.

Wed, 07/18/2012 - 11:16 | Link to Comment BeetleBailey
BeetleBailey's picture

Did you know?

Run some numbers huh?

And you....having to "call your broker" to buy Faceberg.....awwww....troll......what a complete douche you are.

Tell ya what douche; if gold hits 2,000 an ounce first, will you swear to never post on here again?

I'll make that bet with you; if gold hits the 500 buck an ounce level first, I'll promise to not post on here......will you if gold hits 2,000 first?

YOU'RE WRONG ASSHOLE. YOUR WHOLE POST NOT ONLY DOESN'T MAKE SENSE (LIKE THE EURO) IT CONFIRMS YOU KNOW SQUAT ABOUT INVESTING IN GENERAL.

Wed, 07/18/2012 - 11:34 | Link to Comment ATM
ATM's picture

Sorry dude but your numbers are cash costs not as the industry calls them "all in costs". The real cost to produce an ounce of gold today is about $1250/oz. That incudes the things your number running excludes such as exploration and other things needed to run a continuing business.

Mark Cutifani, CEO of AngloGold Ashanti: "If you want to go on a total cost basis, we're running at about $1,200. The industry average is probably around $1,250 an ounce."    Steve Letwin, CEO of Iamgold: "It's going to be difficult for anybody to produce gold at less than $1,200 an ounce." 

Sat, 07/28/2012 - 15:58 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

I've run the numbers.

Gold producers are having a hard time keeping costs down due to inflation for wages - real productive workers - and finding high-yielding mine-sites as all the easy stuff has been gleaned. Mining street-corners with cash-for-gold is much more profitable than mining and in a Depression like today a much less risky business model.

http://flic.kr/p/cgMBw3

With gold now at a higher price, even adjusted for inflation, than all years ever prior to 2011, gold is a very good returning asset on sale. With a 10yr UST yielding under 10% to 20% it's clear gold is the winner and UST are a failure.

Graphite and GRAPHENE (see http://twitter.com/GrapheneStocks ) is not replacing ANY catalytic uses for silver, palladium or platinum BUT VERY MUCH will replace uses for silver for heat and electrical conduction and probably also for water purification. A graphene approach to water desalination (w/video)

Sneaky MDB - you snuck in lies and bullshit with real facts and a serious over-valuation of future uses of silver - very sneeeeeky.

#winning

Wed, 07/18/2012 - 10:35 | Link to Comment LedMizer
LedMizer's picture

I just threw up in my mouth a little.

Wed, 07/18/2012 - 20:16 | Link to Comment eatthebanksters
eatthebanksters's picture

Better than shitting your pants, a little    :-)

Wed, 07/18/2012 - 10:42 | Link to Comment Pooper Popper
Pooper Popper's picture

Thats better than thinking about Maxine!That is one ugly women!

.

.I mean the last time I saw a mouth like that ,it had a hook in it!

LOL,ROFL

Wed, 07/18/2012 - 11:35 | Link to Comment ATM
ATM's picture

yup, that's a Grouper all right.

Wed, 07/18/2012 - 10:07 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Unfortuneately for him, his husband, Ben Bernanke, had a meeting to attend to.

Wed, 07/18/2012 - 10:13 | Link to Comment notbot
notbot's picture

I'd rather get water boarded than get questioned on finance/economics by MW.

Wed, 07/18/2012 - 10:17 | Link to Comment Cortez the Killer
Cortez the Killer's picture

Hang Waters and Frank on Roubini Banker's Street

Wed, 07/18/2012 - 10:20 | Link to Comment LoneStarHog
LoneStarHog's picture

Barney does love those "moons".

Wed, 07/18/2012 - 10:40 | Link to Comment Rich Bagg
Rich Bagg's picture

He enjoys Fudgepacking American Taxpayers more than his beautiful husband.

 

 

Wed, 07/18/2012 - 11:59 | Link to Comment HANKREARDON
HANKREARDON's picture

c-span live feed is down. sweet. nothing to see here.

Wed, 07/18/2012 - 10:02 | Link to Comment nobusiness
nobusiness's picture

I love the way the "market" can go up two days on the same testimony.  Brilliant

Wed, 07/18/2012 - 10:07 | Link to Comment Doubleguns
Doubleguns's picture

Reruns always have the same ending.

Wed, 07/18/2012 - 10:42 | Link to Comment Praetor
Praetor's picture

Unless produced by George Lucas.

Wed, 07/18/2012 - 10:09 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

"Chariman Bernanke, what is that big red button you keep pressing every 2 minutes?"

Wed, 07/18/2012 - 12:25 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

lmao - making a scene in the office, thanks.

Wed, 07/18/2012 - 10:03 | Link to Comment Pladizow
Pladizow's picture

The drill: Both the market and gold will retreat early in the day, only to have the market close positive and gold will remain suspiciously negative.

Wed, 07/18/2012 - 10:08 | Link to Comment buzzsaw99
Wed, 07/18/2012 - 10:06 | Link to Comment RobotTrader
RobotTrader's picture

Many congressmen are simply pissed off.

 

They going to demand that Bernanke engage Paul Krugman's "Final Solution"

 

1) Print $10 trillion

2) Start handing out $100,000 checks to small businesses

3) Extend unemployment another 99 weeks

4) Bail out any and all failed municipalities

Maybe, if we are unlucky, the result will be an increase in the 10-yr. yield from 1.5% to 3.5%.  Big deal.

Wed, 07/18/2012 - 10:16 | Link to Comment giggler123
giggler123's picture

Is it time to start a new business to get my hands on some of these 100K cheques? ;)

 

When you lot got posted tax back cheques in a vain attempt that you'll all go out and spend it and boost the economy, I think Georgie was fuhrer - I remember feeling a little left out and wondering why the Brit's didn't do the same...

 

Wed, 07/18/2012 - 10:17 | Link to Comment buzzsaw99
buzzsaw99's picture

-1, terrible troll. CONgreffpeople have nothing to be angry about. They have to try hard to feign anger in an election year because they are all fat and happy.

Wed, 07/18/2012 - 10:23 | Link to Comment SheepDog-One
SheepDog-One's picture

LOL RoboTarder actually believes clowngress is pissed off, so funny!

Wed, 07/18/2012 - 10:38 | Link to Comment Dr. Engali
Dr. Engali's picture

One can only hope they would do all of the above. That would be the end of the current system.

Wed, 07/18/2012 - 10:38 | Link to Comment ITrustMyGut
ITrustMyGut's picture

many besmerch your words robo.. but I so get the experience you bring.. based on deep cynicism of any fluffy thay cant go on forever hopium... the likes of many have been telling us BANK HOLIDAY etc.. OMG Isra-hell invasion of Iran... dollar collapse IMMENIENT... etc ad nauseum.. and YET

here we are... 5+ years later.. and the status quo remains the status quo...

 

applying logic and reason in a 3rd world level corrupt enviorment.. just dont fly law dog...

 

the 3rd person observaytion of the corrupt circus is amusing... but we can NOT allow any expectation to grow of change..

expectation is foreplay for misery imho...

Wed, 07/18/2012 - 12:00 | Link to Comment XitSam
XitSam's picture

If you have a successful business, you didn't do that, government is responsible for your success. Obama said so. So you should give your $100,000 back to the government. It's only fair.

Wed, 07/18/2012 - 10:08 | Link to Comment LMAOLORI
LMAOLORI's picture

It would be pretty funny if someone brought up maxine water's giving her old man bail out funds

 

 

Bank-Hating Maxine Waters Charged With Improperly Steering Federal Funds to Bank

Bank in Maxine Waters case was weakest to get TARP help

 

Wed, 07/18/2012 - 10:11 | Link to Comment Problem Is
Problem Is's picture

+1 LMAOLORI... LOL

Maxine is a tough ole south central broad... She might just kick your ass...

Wed, 07/18/2012 - 10:33 | Link to Comment dark pools of soros
dark pools of soros's picture

Stop chargin dees fees!!!

Wed, 07/18/2012 - 11:40 | Link to Comment ATM
ATM's picture

http://www.youtube.com/watch?v=PXQF9PJE3J8

 

I found this video of Maxine. She works a side job when Congress is on vacation.

Wed, 07/18/2012 - 11:54 | Link to Comment Missiondweller
Missiondweller's picture

Yeah, whatever happened with that investigation?

 

Waters is always fun to see what incredibly stupid question she can come up with. Her IQ is about room temp.

Wed, 07/18/2012 - 10:06 | Link to Comment sunnyside
sunnyside's picture

Yes, but CNBC has "The Brightest Minds" at the Alpha Conference.  Seeing Timmay with this headline under him made a little bile come up.

 

Wed, 07/18/2012 - 10:09 | Link to Comment francis_sawyer
francis_sawyer's picture

.

Wed, 07/18/2012 - 10:13 | Link to Comment Problem Is
Problem Is's picture

Timmah... More like "Dimmest Bulbs"...

Wed, 07/18/2012 - 10:08 | Link to Comment virgilcaine
virgilcaine's picture

Beard stroking and quivering..  then the hand steeple gesture for the KO.

Wed, 07/18/2012 - 10:10 | Link to Comment Winston Churchill
Winston Churchill's picture

Apparently the UN treaty on gun control is being signed by Hitlery Clinton

on July 27th.

Because of an earlier ratified treaty it will become US law unless specifically

vetoed by the Senate or TOTUS.

Its here.

They are coming for our guns.

 

Wed, 07/18/2012 - 10:18 | Link to Comment Problem Is
Problem Is's picture

Come and get it bitch...

United States Constitution: Article II, Section 2, Clause 2:
Any treaty not ratified by the Senate is not a treaty...

"The President shall have Power, by and with Advice and Consent of the Senate, to make Treaties, provided two thirds of the Senators present concur."

Wed, 07/18/2012 - 10:32 | Link to Comment HardAssets
HardAssets's picture

Its also a commonly repeated fallacy that treaties can usurp the US Constitution

Laws that violate the Constitution are invalid, much less directives based on treaties entered into without the consent of the People.

As usual - - - the lawyer/liar/politicians try to scam the citizenry

None of these jackals can sign away the God given rights of the American People

Wed, 07/18/2012 - 10:35 | Link to Comment Trying to Understand
Trying to Understand's picture

...they do it daily... and all We The People do is vent about it.... we do nothing...

Wed, 07/18/2012 - 10:40 | Link to Comment FEDbuster
FEDbuster's picture

What's the "US Constitution"?  Isn't that some old boat in Boston?

 

I am afraid the time had come to "stand your ground", they are prepping for the big gun grab fight.   Stock up now on ammo, you are going to need it.

Wed, 07/18/2012 - 10:31 | Link to Comment Winston Churchill
Winston Churchill's picture

Since when has the Constitution stopped the doing anything lately.

Its just an amusing historical document to both parties.

Wed, 07/18/2012 - 10:32 | Link to Comment Trying to Understand
Trying to Understand's picture

...but Clinton's EO, 13107, overrides to some extent, in that if a prez signs, all federal agencies must implement... no senate ratification necessary... sort of like the tobacco treaty... prez signed, depts implemented.... btw, the US is party to no less than 867 UN Treaties... and congress is legally obligated to implement them, step by step...  Ever wonder why the elected officials aren't listening to the citizens???

 

Wed, 07/18/2012 - 11:02 | Link to Comment HardAssets
HardAssets's picture

This gets into a much bigger topic. Just websearch 'administrative law' and the "Adminstrative Procedures Act". Amazing though it may seem - - our Constitutional rights were fraudulently taken from us.

YOUR NAME IN CAPITAL LETTERS FOUND ON YOUR DRIIVERS LICENSE is a corporation, and so is the UNITED STATES. You don't have Constitutional rights, because youre not a American citizen - - but a citizen of the corporate UNITED STATES. You willingly (but unknowingly, compelled through fraud) give away your Constitututional rights in numerous ways each day. That's the justification they use on you. Completely unaccountable agencies rule your life.

Its all lawyer written smoke and mirrors bullshit.

This is a very tough topic to wrap your head around, I know. When I first heard about it, - it all sounded unbelievable.

Check out www.republicbroadcasting.org and the work of Ralph Winterrowd, to start. Also check out John Stadtmiller on that same network. The ZH crowd is a tough, skeptical bunch - - and that's fully justified and smart. But check this out. It'll likely blow you away. Financial and legal fraud seems to be the foundation of our country today. We need to change that. It starts with knowledge.

Wed, 07/18/2012 - 11:32 | Link to Comment Offthebeach
Offthebeach's picture

Years ago when you drove into/across a Massachusetts town line you would see the town sign with a " incorporated in 1678" or such date. The just show the date now.

Wed, 07/18/2012 - 11:40 | Link to Comment SMG
SMG's picture

Most of us here are actually well informed about this stuff, the problem is our numbers are in the THOUSANDS.  Somehow we need to pry MILLIONS of our fellow citizens away from American Idol, their smartphone, and all the other distractions.   The problem is most people are fat and happy in their little bubble, and I fear won't figure out what going on until the global depopulation and dictatorship starts.  An then it may be too late.

Got to keep trying to get through.

Wed, 07/18/2012 - 11:52 | Link to Comment HardAssets
HardAssets's picture

SMG - - maybe I'm just slow when it comes to this stuff. It took many months picking it up in bits and pieces from various speakers before this all came together for me. Or maybe because I'm a 'visual learner' type. - - - Have you ever come across one book that explains all this (UNITED STATES corporation, adminstrative procedures, etc, etc) clearly & relatively concisely, with the supporting evidence of legal documents ?  That would be helpful in explaining it to others.

Wed, 07/18/2012 - 12:23 | Link to Comment SMG
SMG's picture

Honestly it's not worth getting too far into the complexities, it just makes it harder to explain to people, and the Oligarchs are good at covering their tracks and making things confusing.   Best thing to do is keep it simple.

Explain it something like this:

There are a bunch of Elites working together against the freedom and interests of the people.  They are sneaky, they lie, but they are there working against us. 

You can show them these: 

http://en.wikipedia.org/wiki/Georgia_Guidestones

and you can talk about the fed and the irs.   Here is a great little cartoon about that, which has helped alot of people understand:

http://www.youtube.com/watch?v=ZPWH5TlbloU

Also people have the attitude that all conspiracies are automatically baloney,  show them this:

http://www.newworldorderreport.com/News/tabid/266/ID/980/33-Conspiracy-Theories-That-Turned-Out-To-Be-True-What-Every-Person-Should-Know-Updated-Revised-and-Extended.aspx

Remember keep it simple, and don't dump too much too fast, people get overwhelmed.  And beware disinfo.

Wed, 07/18/2012 - 10:20 | Link to Comment francis_sawyer
francis_sawyer's picture

Oh it ought to be a hoot watching all the 'boyz in the hood' support the TOTUS when he comes after their guns...

Wed, 07/18/2012 - 10:29 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

Ought to be funnier when French troops roll into Alabama to round up the guns!

Wed, 07/18/2012 - 10:37 | Link to Comment Temporalist
Temporalist's picture

HAHAHAHA that was the best joke I've read in months.  French troops!  I'm still rolling.  Senior living homes in Alabama have more guts and guns than the whole French army.

Wed, 07/18/2012 - 10:10 | Link to Comment ZippyBananaPants
ZippyBananaPants's picture

Hey Barney, dumbfuck, your supposed to be asking questions, not spewing idiotic drivil from your pie hole.

Wed, 07/18/2012 - 10:10 | Link to Comment fuu
fuu's picture

STFU Bawney Fwank.

Wed, 07/18/2012 - 10:11 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I apesheeate dat.  I am aways papwexed dat my weepubwecan coweegs continue to weeble wobble wit dere feweens.  Ween Bush was feeween wike a widdle weeblle wobble he cawed ben bernake.  Dis is bery bi-pardithon.

- Bawney Fwank

Wed, 07/18/2012 - 10:13 | Link to Comment ZippyBananaPants
ZippyBananaPants's picture

+100 Mr. H!!

Wed, 07/18/2012 - 10:12 | Link to Comment bdc63
bdc63's picture

... just remember, Maxine Waters represents the interests and the intellect of her constituents ... scarey, huh?

Wed, 07/18/2012 - 10:26 | Link to Comment Everybodys All ...
Everybodys All American's picture

Democracies fail because of ignorance and immoral behavior.

Wed, 07/18/2012 - 11:09 | Link to Comment HardAssets
HardAssets's picture

Democracies are dangerous. Two wolves and a sheep, voting what to have for dinner.

 We are supposed to   "have a republic, if you can keep it." - - Ben Franklin

Please research the difference between a democracy and a democratic republic - - they havent taught this distinction in schools for a very long time

Wed, 07/18/2012 - 10:14 | Link to Comment asteroids
asteroids's picture

Notice how the market ramps when the FED or POTUS is speaking?

Wed, 07/18/2012 - 10:16 | Link to Comment Dr. Engali
Dr. Engali's picture

I can't stomach it enough to watch. I just can't stand the sound of  Bawny Fwank or Maxipad Wetter. Two of the most annoying people in the world.

Wed, 07/18/2012 - 10:19 | Link to Comment Problem Is
Problem Is's picture

+1... On the Maxipad reference...

Wed, 07/18/2012 - 10:33 | Link to Comment Nothing To See Here
Nothing To See Here's picture

If they were'nt so full of themselves, that would already be hard enough. But seeing these two crooked, confused persons siting on their thrones as if they held truth and power in their hands is too much for me.

New England is nice for the panorama, not for the cleverness of its constituents.

Wed, 07/18/2012 - 10:17 | Link to Comment e.blair
e.blair's picture

I don't think I can watch again.  But, if Santelli's right--that there was a smoking gun yesterday--somebody should put together a youtube clip of the moment when Bernanke admitted they were in the loop on LIBOR.  Shouldn't we be talking about that today?

Wed, 07/18/2012 - 10:19 | Link to Comment Temporalist
Temporalist's picture

Never talk about reality.  Your hopium prescription shall be arriving shortly.

Wed, 07/18/2012 - 10:18 | Link to Comment indio007
indio007's picture

Is something wrong with the audio all I hear is slurping.

Wed, 07/18/2012 - 10:18 | Link to Comment The Duck Stops Here
The Duck Stops Here's picture

So Bernanke says growth is slowing and not wanting to do QE3, the numbers for data show that the economy is slowing, companies are beating beaten down estimates, China is slowing, Europe is Crashing and the market is up? When the market crashes next because of all this, I will choke the crap out of anyone in the market who complained that they lost money who were long stocks, or say they didn't see it coming. Fucking insanity LOL

Wed, 07/18/2012 - 10:19 | Link to Comment Gene Parmesan
Gene Parmesan's picture

I refuse to click a video link that's preceded by a description that has "Barney Frank" and "penetrating" in the same sentence.

Wed, 07/18/2012 - 10:23 | Link to Comment Bastiat
Bastiat's picture

Was about to say: bad taste to use "Barney Frank" and "penetrating" in the same sentence . . . or "bad taste" for that matter.

Wed, 07/18/2012 - 10:22 | Link to Comment tony bonn
tony bonn's picture

maxine waters has a better understanding of corruption - at times - than most people give her credit.....at least she knew that the cia was peddling drugs in inner la to raise money for its assassination and regime change programs.

Wed, 07/18/2012 - 10:23 | Link to Comment Temporalist
Temporalist's picture

She corrupts the English language daily.

Wed, 07/18/2012 - 10:30 | Link to Comment LMAOLORI
LMAOLORI's picture

 

You mean in the same sense as when they ask burglar's to show them their methods right???? 

Bank in Maxine Waters case was weakest to get TARP help

The bank at the center of a House ethics investigation of U.S. Rep. Maxine Waters was the weakest to receive funds from the government's Troubled Asset Relief Program at the time of its rescue, according to an analysis by the Investigative Reporting Workshop.

When then-Treasury Secretary Henry Paulson announced creation of the so-called "Capital Purchase Program" in October 2008, he said it was directed at "healthy institutions." Nevertheless OneUnited Bank of Boston received a $12.1 million capital injection from the Treasury Department on Dec. 19, 2008. The money has not been repaid, according to Treasury Department documents.

Records show that as of Sept. 30, 2008, the latest quarter before the investment, OneUnited had "Tier 1 capital" of just 1.8 percent of assets. Of the 363 banks that got TARP money in the fourth quarter of 2008, at the height of the financial crisis, that was the lowest Tier 1 ratio.

In fact, none of the 987 banks that got TARP money between October 2008 and December 2009 reported a lower ratio in the quarter before they received federal cash. As of March 31, 2010, 16 TARP banks had lower Tier 1 ratios then OneUnited's 4.98 percent.

Waters, a Democrat from Los Angeles, is alleged to have set up a meeting with regulators to help the bank, on whose board her husband served. OneUnited is based in Boston, but it has major operations in Los Angeles and Miami.

more

http://www.msnbc.msn.com/id/38575419/ns/business-us_business/t/bank-maxine-waters-case-was-weakest-get-tarp-help/

Wed, 07/18/2012 - 10:25 | Link to Comment sunnyside
sunnyside's picture

This should provide some good fodder for Jon Stewart tonight.  Maxine is too much of an easy target for him to leave alone.

 

Wed, 07/18/2012 - 10:27 | Link to Comment SheepDog-One
Wed, 07/18/2012 - 10:27 | Link to Comment Problem Is
Problem Is's picture

The Bernankster

Back to Princeton with Krug-hole you worthless bitch...

Wed, 07/18/2012 - 10:29 | Link to Comment Dr. Engali
Dr. Engali's picture

It's all Europes fault.

Wed, 07/18/2012 - 10:29 | Link to Comment orangedrinkandchips
orangedrinkandchips's picture

I think BARNEY is worried he will look fat in his cock ring! On national TV no less!!!

 

oh my!

Wed, 07/18/2012 - 10:34 | Link to Comment Richard Head
Richard Head's picture

Maxine is as dumb as Barney is gross.

Wed, 07/18/2012 - 10:35 | Link to Comment Dr. Engali
Dr. Engali's picture

I decided to turn it on realizng that Ron Paul would be asking questions.

Wed, 07/18/2012 - 10:37 | Link to Comment Payne
Payne's picture


I’ve just run the numbers on the dollar, and I'm afraid the results were not pretty. In 2010, the average printing cost for the dollar was .542 per 1000. This means that Banks are currently turning over $5 for every dollar printed. This is likely to translate into a huge supply glut that will crush dollar bugs and wreak havoc on already tortured  stock portfolios.

The numbers for Euro are even uglier. Using the same method, I calculate that Euro is currently trading at a premium of over $20 per dollar. Not only this, but China is set to replace many of the Financial uses of the dollar, making it largely useless as an Financial Instrument.

 

Meanwhile, the fundamental picture for gold and silver just keeps getting better. As the Eurozone crisis persists, the regulatory environment is getting more favorable for Gold, the demand for Gold and silver is expected to increase measurabley . With the ten year yield at 1.48%, and gold still under $1600 per ounce, things are looking great if you are a stacker of gold.  If you are looking for immediate results do what the Treasury officials do and seek the advice of a prostitute. 

All in all, the horizon for precious metals is Fantastic, and investors would do well to approach this market with both haste and confindence

Wed, 07/18/2012 - 10:37 | Link to Comment HaroldWang
HaroldWang's picture

What's a "physical cliff"? Man, are these people stupid.

Wed, 07/18/2012 - 10:48 | Link to Comment SWCroaker
SWCroaker's picture

Dat's de actual edge, as opposed to the meta-fiscal edge, which is, ya know, different.

Wed, 07/18/2012 - 10:55 | Link to Comment azzhatter
azzhatter's picture

Fucking Baucas is an ignorant prick. Oh wait, I just described congress

Wed, 07/18/2012 - 11:49 | Link to Comment GlomarHabu
GlomarHabu's picture

A true and righteous observation of Senator Baucus. But then the great state of Montana is the elephant burial grounds for the rusting hulks of single wides. Since I own property there and visit regularly I can say first hand that the people of Montana claim to be really independent minded, when in reality they are simply uninformed.

On the plus side there are some awesome hiking trails and good horseback riding country to be found in MT.

Wed, 07/18/2012 - 10:46 | Link to Comment ZippyBananaPants
ZippyBananaPants's picture

Go Ron Go

Wed, 07/18/2012 - 10:53 | Link to Comment Jena
Jena's picture

"Can we get that answer in writing?" Hahahaha

Wed, 07/18/2012 - 10:54 | Link to Comment El Hosel
El Hosel's picture

Hardball Paul.... quick, give him the hook, before anybody wakes up.

Wed, 07/18/2012 - 10:53 | Link to Comment rosiescenario
rosiescenario's picture

Ron Paul just made the only intelligent points to come from all this posturing by the professional politicos.

Wed, 07/18/2012 - 10:54 | Link to Comment azzhatter
azzhatter's picture

Paul is the only one who truly stands up for the middle class

Wed, 07/18/2012 - 10:55 | Link to Comment booboo
booboo's picture

Congressman Clay: How do we get my brothas to get off unemployment and welfare.

Bernanke: "er, diversity through imagination coupled with fairness in gobbledy gook blah, blah.

Congressman Clay: "Uh, ok"

Wed, 07/18/2012 - 10:57 | Link to Comment Temporalist
Temporalist's picture

As Ron Paul was asking the last question he'll ever ask to a Fed chairdemon the other congress people were sitting on their hands thinking "I hope he doesnt' spoil all the graft I'm going to be getting before he leaves office."

Wed, 07/18/2012 - 10:57 | Link to Comment Antifederalist
Antifederalist's picture

A gold standard would not provide price stability.  FUCK YOU BERNANK.  FUCK YOU FUCK YOU

Wed, 07/18/2012 - 11:00 | Link to Comment buzzsaw99
buzzsaw99's picture

The sell gold, buy stocks trade is still smokin'!

Wed, 07/18/2012 - 11:12 | Link to Comment Bastiat
Bastiat's picture

Good.   Double down.

Wed, 07/18/2012 - 11:59 | Link to Comment Bastiat009
Bastiat009's picture

Gold is falling a little lower every day while stocks are going a little higher every day.

I don't know if it makes sense but I know that holding gold is not good these days are its value is falling and unlike my house can't provide shelter when it rains. If gold is a currency, it's not very safe these days.

Wed, 07/18/2012 - 10:58 | Link to Comment Dr. Engali
Dr. Engali's picture

Liar! Gold is has proven to  be the most stable currency to provide long term price stablity for thousands of years.

Wed, 07/18/2012 - 11:04 | Link to Comment buzzsaw99
buzzsaw99's picture

There were terrible depressions and deflations during the gold standard. Besides, most of the time gold is boring. It doesn't pay a dividend nor does it beat revised quarterly earnings estimates by a penny.

Wed, 07/18/2012 - 11:23 | Link to Comment Dr. Engali
Dr. Engali's picture

You mean like the terrible depression we are in now? The depression was caused by an over expansion of credit, That truth held true in the 30s and it is true now.

Wed, 07/18/2012 - 11:41 | Link to Comment Badabing
Badabing's picture

when the 90 day note ended and the newely formed fed printed more dollers than gold "they called it a gold shortage ha" thats when gold didn't work gold got stomped after silver was non monitized . all done by the FUCKING banks!

Wed, 07/18/2012 - 12:21 | Link to Comment XitSam
XitSam's picture

Deflation is not necessarily a bad thing. It can come as an increase in efficiency of productivity. Gold is boring ... good, the monetary reference should be boring. Gold can pay a dividend if it is loaned out, but that creates a risk that it won't be paid back, which is as it should be, the interest is a fairly accurate reflection of the risk and the time value of (real) money.  All in all, I would rather be on a gold standard where the government cannot inflate the money supply.

Wed, 07/18/2012 - 10:58 | Link to Comment Antifederalist
Antifederalist's picture

Amazing though that he got a question about the gold standard.  First they ignore you......

Wed, 07/18/2012 - 11:00 | Link to Comment valkir
valkir's picture

Where the "market" will go,if Ron Paul pitch silver or gold coin in Beardmonkie face?

Wed, 07/18/2012 - 11:02 | Link to Comment Temporalist
Temporalist's picture

Ben Bernanke: QE1 started the recovery, QE2 was just icing, Twist1 was a side dish, Twist2 is dessert, but the recovery started almost 4 years ago and the meal is still not over.

Wed, 07/18/2012 - 11:02 | Link to Comment monopoly
monopoly's picture

MDB is back. Now I feel better. Just bought more miners.

Wed, 07/18/2012 - 11:05 | Link to Comment booboo
Wed, 07/18/2012 - 11:05 | Link to Comment resurger
resurger's picture

We need to add 4 TRillion , only! over the next Decade?!

GOLD BITCHEZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZZ

Wed, 07/18/2012 - 11:09 | Link to Comment ebworthen
ebworthen's picture

CNBC just cut away from testimony when time was yielded so Ron Paul could ask more questions.

"It looks like things are almost over..." just at the moment when Ron Paul was going to speak.

"CUT"

Jackasses.

Wed, 07/18/2012 - 11:10 | Link to Comment bigdumbnugly
bigdumbnugly's picture

worse.  he said that the "serious" questioning was just about over...

Wed, 07/18/2012 - 11:09 | Link to Comment bigdumbnugly
bigdumbnugly's picture

a - f'ing - mazing

 

ron paul just about to question bernanke and cnbclownstation cuts off back to carl q.

 

a - f'ing mazing

Wed, 07/18/2012 - 11:15 | Link to Comment Overfed
Overfed's picture

Ron Paul is way over the heads of average Americans. If you want to know the intelligence of the average American, look to Maxine Waters or Hank Johnson. That's about how smart we are as a whole. :-(

Wed, 07/18/2012 - 11:12 | Link to Comment lynnybee
lynnybee's picture

Barney Frank takes the cake as being  the most disgusting, vile & corrupt politician ever!    why oh why don't the citizens of that state pitch that  horrid person!     i could say more, but, will refrain from the vulgarity of it all.     

Wed, 07/18/2012 - 11:12 | Link to Comment resurger
resurger's picture

Double DOSE!

RON PAUL <3

Wed, 07/18/2012 - 11:15 | Link to Comment doc_in_the_house
doc_in_the_house's picture

on bloomberg tv:

ron paul told bQE and QEorganizer that they are FULL OF IT....LOL !!!!!!!!

Wed, 07/18/2012 - 11:15 | Link to Comment doc_in_the_house
doc_in_the_house's picture

bQE: "QE worked"

"IT" caused the market to rally since March 2009...

QEorganizer-odummer:  "thanks to my POLICIES (PRINT BABY PRINT) i caused the market to go up..it shows CONfidene in meeeee!!" LOL !!

QEorganizer: thanks to me RAPING the middle class..i was able to transfer wealth to the 1%, the political donors" ROFLMAO !!!!!

Wed, 07/18/2012 - 11:22 | Link to Comment VEGASBROKER
VEGASBROKER's picture

Barney Frank should be asking his questions from the federal prision in Atlanta. How can you investigate a bank robbery with the robbers that robbed the bank leading the investigation?

Wed, 07/18/2012 - 11:29 | Link to Comment doc_in_the_house
doc_in_the_house's picture

its: "HYPOCRISY U CAN BELIVE IN"

brought to you by ODUMMERNOMICS !! the stupid QEorganizer

Wed, 07/18/2012 - 11:54 | Link to Comment GlomarHabu
GlomarHabu's picture

If you send bend-over-Barney to a Fed prison he would be in heaven with all the pricks who reside in those places. Just let him continue haunting and trolling the Congressional gym and Georgetown bars for his back door trysts.

Wed, 07/18/2012 - 11:49 | Link to Comment Rudolph Steiner
Rudolph Steiner's picture

Bazinga Ben!

The Bernankster just throws the CFTC under the LIBOR bus for the second time in two days.

At this rate someone has to notice. CFTC will need to toss somene to the wolves, no?  Certainly not the JPM silver jobbers. As an agent of the State JPM is just toooo important here ~ that is the assumption. Who else might serve as scapegoat for Wall street leprosy in the popular eye. 

Lively.

 

Context:

http://finance.yahoo.com/blogs/daily-ticker/tim-geithner-aided-abetted-libor-crimes-jim-rickards-131709068.html

 

Wed, 07/18/2012 - 11:25 | Link to Comment Getting Old Sucks
Getting Old Sucks's picture

I wish someone would ask about educating the banks on sound investments.

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