Warren Pounces, Bernake Lies, You're Still Screwed

[Indy]

[The Dude]

As someone who watched the exchange, you're completely wrong in your characterization and in fact Benanke agreed with Warren on almost anything.

He questioned the figure that is was based on only one study and would need to see others try to quantify it.

Where he questioned Warren and what you and Warren didn't understand (and I like Warren and love that she is tough on banks) is that Bernanke was trying to explain that the market is misunderstanding risk and that's why they're getting this supposed bailout but that it most likely misplaced and that they very well could not be TBTF and stand to lose a lot.

Go and actually watch the exchange. If you actually think Bernanke is lying or for TBTF or arguing with Warren, then you're dead wrong. He agreed with Warren that they need to get rid of TBTF and is trying to do so with the tools he has. He agreed with 95% of what she said and only disputed the idea of risk in the market which she would have no idea knowing about since she has no clue how to measure it at all.

[Indy]

[The Dude]

[Indy]

[exploited]

Reality doesn't fit the anti-Wall Street agenda, Dude. Don't get in the way of his soapboxing.

[The Dude]

[Mo~]

Thank you, Dude. It's nice to see someone argue Indy on actual merits rather than just trolling him with, "OMG, you partisan hack!" and coming up with some half assed BS.

I could actually learn something this time and I believe Indy is big enough to admit if he's mistaken. G5000 was big enough to admit that Indy had been right about the CDO shit before he caught on and started schooling everyone on the forum. I get so sick of everyone seeing an Indy thread and just coming in for the punch. The topics just get lost in the troll fest and no knowledge is gained.

[Kane]

Bernanke is basically arguing moral hazard, he's just citing the appropriate parties responsible for allowing this perception to remain relevant. In his own way he's kinda implying that one of these banks failing now wouldn't be such a systemic risk if more people sought alternatives to the TBTF banks. This is where his allusion to needing more time makes sense.

[The Dude]