Senator Bernie Sanders: ‘Bernanke is Part of the Problem’
2009-12-05 0:00

From: WallStreetPit.com

Sen. Bernie Sanders, who has been a constant critic of the fed, and of Bernanke, said on Dylan Ratigan’s show he will vote against the reconfirmation of Federal Reserve Chairman Ben Bernanke.

During the interview Sen. Sanders slams the Fed Chief saying it is unacceptable that the central bank risks taxpayer money without detailing where the funds go. Sanders recalls his testy exchange at a hearing before the Senate Budget Committee back in March with the Fed Chairman where he pressed Bernanke to name the firms that borrowed from the Fed, the central bank chairman replied, ‘No, I won’t tell you’.

“If the taxpayers of this country have spent $700 billion bailing out Wall Street because they are too big to fail” said Sander, “why is it that 3 out of the 4 largest financial institutions today are bigger than they were before the bailout. Why is it okay that 4 large financial institutions write half the mortgages, two thirds of the credit cards in this country and control 40% of the deposits. The bottom line to me is that the middle class in this country is collapsing…we have seen this trend downward for many many years. We need a new direction.”



Article from: WallStreetPit.com



Related Articles
Bernanke Warns Congress Not to Limit the Central Bank’s Independence
The All Powerful Federal Reserve (Part I)
Fed Asks Congress For More Regulatory Powers
Federal Reserve loses suit demanding transparency
Controlling the Global Economy: Bilderberg, the Trilateral Commission and the Federal Reserve
Gallup Poll: Americans Turning Against Federal Reserve
Spitzer: Federal Reserve is ‘a Ponzi scheme, an inside job’
The Federal Reserve is Bankrupt
Senator Sanders: It's Still a Recession, Stupid (Video)
Geithner: Auditing the Fed is a "line that we don't want to cross" (Video)
Senate sets hearing on Bernanke's renomination


Latest News from our Front Page

Safe spaces, white tears and getting kicked out of a women's group - by two men
2015-07-07 21:37
Lately I've been kicked out of a couple of groups I belong to, for daring to question received wisdom or refusing to go along with the rules of identity politics. For instance, I was thrown out my university women's group -- by two men! -- for questioning an article on Jezebel about "cultural appropriation." They explained that the group was supposed to ...
Ghost rider in the sky: Scientists use lasers to project movie onto clouds
2015-07-07 20:08
A green ghost rider appeared in the sky over the British city of Nottingham when scientists started testing a newly developed projecting device which allows the beaming of moving images directly onto clouds for the first time ever. The image of a galloping horse rider was projected onto the clouds from a distance of 50 meters by a special laser-based projection ...
China’s stock market is crashing, and the Chinese are trying to do the exact same thing America did in 1929
2015-07-07 19:36
‘While European attention is focused on Greece, China is having a serious market meltdown. After exploding earlier in the year because of deregulation, China’s benchmark Shanghai Composite has collapsed a crazy 29% since the highs of early June. China’s other stock markets have had similarly steep falls. Bloomberg notes that the crisis is closely mirroring the 1929 Wall Street crash, which led ...
Oregon Is First State to Charge Drivers for Each Mile They Drive
2015-07-07 19:18
When he's not riding his bicycle, Rep. Earl Blumenauer, an Oregon Democrat, said he's driving a fuel-efficient hybrid, and that's a problem, because it means he's not paying his "fair share" for highway maintenance. Blumenauer says that's why he signed up for OReGO, the nation's first program to charge drivers based on the number of miles they drive. The program launched on ...
Burger King sells gay pride Whopper
2015-07-07 19:06
Burger King has concocted yet another way to have it your way: a gay pride burger. The Proud Whopper, as it's called, comes wrapped in a rainbow colored wrapper with this inscription: "We are all the same inside." It will be sold through Thursday at one Burger King restaurant on San Francisco's Market Street, that was at the heart of the ...
More News »