Bernanke is now saying we need to consider putting more capital in to the "to big to fail" banks? WFT is that about? Hold the presses for a minute! Didn't we just do stress tests? I thought the results were just dandy?
Ain't this just peachy? We ate our guts out over bank stocks, lost money being short and now he comes out with this just a few days after the stress test reports?
I hope this damn market tanks 50% from here! We deserve it! This country is run by liars and criminals.
Look, they didn't work for the money they just printed it up out of thin air. As long as people are willing to live with fiat currency and fractional reserve lending then this is what we will get.
By the way, did you vote for Ron Paul or did you snicker and roll your eyes at him like so many sheeple Americans who had no clue what a real statesman the man is?
Not accusing you, just asking.
The only people who have a right to bitch about the debauchment of our currency are Ron Paul supporters. McCain would have done the exact same thing as Obama. McCain=Obama=Billary=Thompson, etc. They are all part of the Unified Socialist Party of Amerika. Only Ron Paul was any different and we didn't like it when he told us the truth.
Good, for a second there I thought you were under the impression he turned on cnbc every day and listened to liesman, et al, talking about "green shoots" and was just so proud to of fixed all the problems so easily.
The stress test showed each one needed money (probably the first, much higher, number). The dilution/secondary didn't raise enough and he knows they're not going to be profitable for awhile (especially when the fed fund rate rises). I'm glad he brought it up, now things should start to heat up.
Knocking Bernanke is misguided. Let's be honest, we all want these things to drop because that is the direction of our bet. Take that off the table, and I suspect very few of us would be pulling for more bad news with the banks.
That being said, I am not a fan of the subterfuge that has been used regarding information and BB should be knocked for that, along with several others. Bernanke is one of the few, however, who have kept the pieces held together to date and deserves credit for it. He has been dealt a lousy hand and doing damn well with it, given the circumstances.
I must agree...... how has Ben Bernanke not been removed? He's on a pyscho power trip. This is from the guy who said that "Subprime mortages would not spillover and were nothing to worry about."
we need more talk from geithner, bernanke, and osama for faz ++++
i am astounded that the banks need more $. all is well in oz.
so when do they tell us unemployment is much better AFTER adding more gov't jobs on the books?
if we could just get barney frank back in front of a camera with a glowing recommendation on bank solvency.
Well, you know we did have a weekend in between, a lot has changed since then:-). I guess we need weekly stress test adjustments. Why is the media not reporting that Obama has 250 billion in his budget for further aid to the banks?
Stress tests covered 19 banks, some of them were NOT too-big-to-fail.
It's all a part of a move to put superbanks into special regulated status so that, since they are too-big-to-fail, they had better not get close to failing.
The future is certain. The gov't will put so many restraints on too-big-to-fail banks that they will cease to exist. But, until then, yup, they should have more capital than other FDIC insured banks.
They are all nervous. They do not know what to do. This is an unprecedented situation we are in, uncharted territory. He is the fed chief, he has to say that. If you invest $$ in the banks and lose a bundle, its just another failed experiment for those guys.
They are throwing sh!t everywhere and wondering if anything will stick.