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PBS: bernanke on the record (pg. 2)
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| Krypton |
| quote: | Originally posted by saluyamo
and it maybe that some of those people help out old mates. |
Ha! That's the status quo mate. You don't help your political enemies do you?
| quote: | I could be wrong but didnt GS become a bank very very shortly before TARP money was handed out?
Just this month GS made amazing profits from what could only be high risk trading, something that I thought banks are not meant to do (legislation? a commity, I'm not sure) |
I do believe the banking and investment side are by law, separated. A bank cannot use depositors money to make high risk trades. |
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| pkcRAISTLIN |
| quote: | Originally posted by D-res
*rolls eyes* Open your eyes. You must be plain retarded to think our world is a perfect fairy tale and corruption is just a ten-letter word. Did you not say yourself in the 'What are you currently reading' thread you'd rather get ripped and play video games? You're like the bible-thumping creationist having faith in the fairy tale you've been brought up in with little to no willingness to ask questions. Yup, lending institutions exist to make the world a better place for everyone and people with money and power never use it for anything that couldn't be considered altruistic. :rolleyes: Read a ing book, god DAMNIT. |
Lol, that’s funny. Ive read more books than you could ever poke a stick at. You’re the one educated by youtube.
The fact that Bernanke (or Paulson for that matter) knew some of the bankers on wall street had absolutely nothing to do with their actions, and if you believe differently, bring us the evidence. bernanke’s actions regarding the crisis are a matter of public record. How about YOU go read a book before you start putting forward idiotic ideas that hold no weight? |
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| pkcRAISTLIN |
| quote: | Originally posted by saluyamo
Thats more than likely :( Could you recommend some forums and news websites that arent as misinformed? |
Certainly. Here is an examination of the crisis and the actions of the treasury and the fed. I think it makes it abundantly clear that Bernanke and Paulson weren’t helping out their wall street buddies.
http://www.pbs.org/wgbh/pages/frontline/meltdown/view/ |
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| atbell |
| quote: | Originally posted by saluyamo
You dont work at Goldman Sachs do you? |
LOL!
got my question in:
Given the many studies that have addressed measurement bias in the standard reports of inflation, do you still maintain the position stated on page 51 of your text book, Macroeconomics, 2nd Canadian Eddition, which postulates that US inflation could be over stated by 1 - 2 percentage points?
If not, by how much do you feel measurement bias is affecting reported inflation numbers? |
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| pkcRAISTLIN |
| quote: | Originally posted by atbell
LOL!
got my question in:
Given the many studies that have addressed measurement bias in the standard reports of inflation, do you still maintain the position stated on page 51 of your text book, Macroeconomics, 2nd Canadian Eddition, which postulates that US inflation could be over stated by 1 - 2 percentage points?
If not, by how much do you feel measurement bias is affecting reported inflation numbers? |
Haha, good question! Was watching PBS last night and I think they said it was being filmed this weekend. Can’t wait. |
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| atbell |
| quote: | Originally posted by saluyamo
and it maybe that some of those people help out old mates. I could be wrong but didnt GS become a bank very very shortly before TARP money was handed out?
Just this month GS made amazing profits from what could only be high risk trading, something that I thought banks are not meant to do (legislation? a commity, I'm not sure) |
If I remember right Goldman, and one other bank, changed thier 'bank' designation so that there are now no 'Investment banks' in the US. Something like that esentially. The general feeling was that there were structural flaws in the organizational requirements which feed the problems over the past decade.
GS has been making amazing profits for years. They are made up of smart people who work hard, from what I've heard. They also spend a good deal of time picking thier perspective employees to match the culture of the bank as well as the skill set of the bank.
Even if there is some dodgy element to them, I'd rather the old boys of GS were in high positions than the old boys at Lehmans or Bear Sterns ;)
(off the top of my head, Paulson, Bernanke, Greenspan, and a handful of others were GS alum) |
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| atbell |
| quote: | Originally posted by ********
My question was:
Ben, what do you think is more important the US economy or Yaweh? |
LOL also a good question! |
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| atbell |
| quote: | Originally posted by pkcRAISTLIN
bernanke’s actions regarding the crisis are a matter of public record. |
In fact Bernanke's actions could have been predicted rather easily by someone who was familiar with his past work. He was a student of the great depression and reacted in a way that suggests he was trying to correct the mistakes that he'd noticed in his studies.
There is a paper that he wrote on the topic that isn't to hard to find (although I forget the name right now). The main point I picked out from it was that he felt the US economy would have done better if the gold standard had been abandon earlier in the 30s so that the US dollar could have dropped in value. His response to this deperssion (;)) was to print money. |
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| atbell |
| quote: | Originally posted by pkcRAISTLIN
Haha, good question! Was watching PBS last night and I think they said it was being filmed this weekend. Can’t wait. |
Thanks, it's been on my mind since I began re-reading my text (which I started when I noticed he'd written it).
Glade you're keeping up with PBS, they've got good stuff but I always forget to check it out. |
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| pkcRAISTLIN |
| quote: | Originally posted by atbell
In fact Bernanke's actions could have been predicted rather easily by someone who was familiar with his past work. He was a student of the great depression and reacted in a way that suggests he was trying to correct the mistakes that he'd noticed in his studies.
There is a paper that he wrote on the topic that isn't to hard to find (although I forget the name right now). The main point I picked out from it was that he felt the US economy would have done better if the gold standard had been abandon earlier in the 30s so that the US dollar could have dropped in value. His response to this deperssion (;)) was to print money. |
Yeah, there’s a wonderful speech he gave to the press club (or similar I think) regarding the great depression and central banking. Very informative and a great read. |
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| pkcRAISTLIN |
| quote: | Originally posted by atbell
Glad you're keeping up with PBS, they've got good stuff but I always forget to check it out. |
yeah, absolutely love the news hour with jim lehrer. I leave work at about 4.30pm and get to see most of it each day on one of our public stations. Its hard to believe that the news hour and fox news come from the same country. Cant get enough of shields and brookes! |
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| Krypton |
| quote: | Originally posted by pkcRAISTLIN
yeah, absolutely love the news hour with jim lehrer. I leave work at about 4.30pm and get to see most of it each day on one of our public stations. Its hard to believe that the news hour and fox news come from the same country. Cant get enough of shields and brookes! |
Too bad PBS gets the least amount of viewers. The masses want to be talked at... |
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