09 Jul 2015

Bernanke Bask

Banking, Federal Reserve 6 Comments

Hey kids, I am 95% sure that in December 2008 Ben Bernanke was called before Congress to testify about all the emergency loan programs etc. They asked him to divulge the names of the recipients of the loans, and he said no, it would defeat the purpose of the program (because investors/depositors would dump weak banks needing Fed life-support).

Can anyone provide a link to justify my recollection? Google has failed me.

6 Responses to “Bernanke Bask”

  1. Reply
    Dan says:
    at

    https://m.youtube.com/watch?v=dX2qvbznGKM

    This pops up when you google “Bernanke refuses”

    • Reply
      Major.Freedom says:
      at

      Just thought of something.

      Sanders said 2.2 trillion dollars of THEIR (meaning “the American people’s”) money.

      Bernanke did not correct him. Why not? Because Bernanke would have to then say that the loans arose out of thin air, entered by computer, thus devaluing everyone else’s money.

      I think this is why that (mis)understanding of “the people’s money” is so prevalent. The lie is better (for the banksters) than truth.

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