there is no accountability these days. In the time of "Broken Windows" policing where kids get shot because of the equivalent of throwing rocks at windows, people who are responsible for the 2008 crash, and the failure to stop the 9/11 attacks go scot free, we fight a war against a country, losing and maiming thousands of our fellow Americans, our psychological war against the Baathist's have not demoralized them, in fact it created ISIS and we ignore organ harvesting of prisoners of conscience so that we can do business with a country that profits from it? there is no accountability and it is making people crazy.
Saturday, October 17, 2015
Its pathetic that the Bush administration will not take any responsibility for the attacks on our country that occurred during their time in office. Especially after the warnings and the personal notes by two field fbi agents monitoring two suspects in a flight school that had known ties to kalid sheik Muhammad thru a meeting in Malaysia and Zacharious Moussoui who was the supposed 19th hijacker that was detained in Minnesota. equally pathetic was their reasons fo attacking Iraq which had nothing to do with the 9/11 attacks and and which is the direct cause of ISIS and the ongoing crisis in Syria. and now the rest of the world now coping with the jihadists embedded with syrian refugees spreading around he world.
YOU CANNOT DENY THESE ATTACKS HAPPENED UNDER YOUR TENURE.
Bernanke: More Execs Should Have Faced Prosecution For 2008 Financial Crisis
"Now a financial firm is of course a legal fiction; it's not a person. You can't put a financial firm in jail."
Posted: 10/04/2015 06:24 PM EDTWASHINGTON, Oct 4 (Reuters) - Former Federal Reserve Chairman Ben Bernanke said in a newspaper interview published on Sunday that more corporate executives should have been prosecuted for their actions leading up to the 2008 financial crisis Bernanke told USA Today that the U.S. Justice Department and other law enforcement agencies focused on investigating or indicting financial firms.
"But it would have been my preference to have more investigation of individual action, since obviously everything that went wrong or was illegal was done by some individual, not by an abstract firm," Bernanke was quoted as saying.
Bernanke, who presided over the U.S. central bank during the financial crisis considered the worst since the Great Depression, said it was not up to him to decide whether to prosecute individuals, noting: "The Fed is not a law-enforcement agency."
"The Department of Justice and others are responsible for that, and a lot of their efforts have been to indict or threaten to indict financial firms," Bernanke added. "Now a financial firm is of course a legal fiction; it's not a person. You can't put a financial firm in jail."
Bernanke, who retired from the Fed last year after eight years as chairman, said of the financial crisis: "I think there was a reasonably good chance that, barring stabilization of the financial system, that we could have gone into a 1930s-style depression."
In the interview, Bernanke, whose memoir is being published this week, acknowledged that analysts were slow to realize how serious the economic downturn would become and faulted himself for not doing more to explain why it was in the public's interest to rescue the financial firms that helped cause the crisis.
"Every time I saw a bumper sticker which said, 'Where's my bailout?' it hurt," the newspaper quoted him as saying. (Reporting by Peter Cooney; Editing by Eric Walsh)
ASSOCIATED PRESS
WASHINGTON, Oct 4 (Reuters) - Former Federal Reserve Chairman Ben Bernanke said in a newspaper interview published on Sunday that more corporate executives should have been prosecuted for their actions leading up to the 2008 financial crisis.
Bernanke told USA Today that the U.S. Justice Department and other law enforcement agencies focused on investigating or indicting financial firms.
"But it would have been my preference to have more investigation of individual action, since obviously everything that went wrong or was illegal was done by some individual, not by an abstract firm," Bernanke was quoted as saying.
Bernanke, who presided over the U.S. central bank during the financial crisis considered the worst since the Great Depression, said it was not up to him to decide whether to prosecute individuals, noting: "The Fed is not a law-enforcement agency."
"The Department of Justice and others are responsible for that, and a lot of their efforts have been to indict or threaten to indict financial firms," Bernanke added. "Now a financial firm is of course a legal fiction; it's not a person. You can't put a financial firm in jail."
Bernanke, who retired from the Fed last year after eight years as chairman, said of the financial crisis: "I think there was a reasonably good chance that, barring stabilization of the financial system, that we could have gone into a 1930s-style depression."
In the interview, Bernanke, whose memoir is being published this week, acknowledged that analysts were slow to realize how serious the economic downturn would become and faulted himself for not doing more to explain why it was in the public's interest to rescue the financial firms that helped cause the crisis.
"Every time I saw a bumper sticker which said, 'Where's my bailout?' it hurt," the newspaper quoted him as saying. (Reporting by Peter Cooney; Editing by Eric Walsh)
ASSOCIATED PRESS
WASHINGTON, Oct 4 (Reuters) - Former Federal Reserve Chairman Ben Bernanke said in a newspaper interview published on Sunday that more corporate executives should have been prosecuted for their actions leading up to the 2008 financial crisis.
Bernanke told USA Today that the U.S. Justice Department and other law enforcement agencies focused on investigating or indicting financial firms.
"But it would have been my preference to have more investigation of individual action, since obviously everything that went wrong or was illegal was done by some individual, not by an abstract firm," Bernanke was quoted as saying.
Bernanke, who presided over the U.S. central bank during the financial crisis considered the worst since the Great Depression, said it was not up to him to decide whether to prosecute individuals, noting: "The Fed is not a law-enforcement agency."
"The Department of Justice and others are responsible for that, and a lot of their efforts have been to indict or threaten to indict financial firms," Bernanke added. "Now a financial firm is of course a legal fiction; it's not a person. You can't put a financial firm in jail."
Bernanke, who retired from the Fed last year after eight years as chairman, said of the financial crisis: "I think there was a reasonably good chance that, barring stabilization of the financial system, that we could have gone into a 1930s-style depression."
In the interview, Bernanke, whose memoir is being published this week, acknowledged that analysts were slow to realize how serious the economic downturn would become and faulted himself for not doing more to explain why it was in the public's interest to rescue the financial firms that helped cause the crisis.
"Every time I saw a bumper sticker which said, 'Where's my bailout?' it hurt," the newspaper quoted him as saying. (Reporting by Peter Cooney; Editing by Eric Walsh)
The Federal Reserve thinks the U.S. economy is doing OK, but the global economy is a different matter. And that’s why the Fed held rates steady today.
If it were just a matter of looking at the U.S. jobs and inflation data, the Fed probably would have raised interest rates today. Fed Chairwoman Janet Yellen made it clear in her press conference that the labor market is close to full employment, and that she’s reasonably confident that the inflation rate will drift back up to around 2% eventually.
When asked specifically about the undershooting on inflation, Yellen said she and her colleagues aren’t too worried. Inflation will be very low this year, true, but it will inevitably accelerate next year as the labor market tightens further and the impact of a stronger dollar dissipates.
They could be wrong about inflation, of course, but for now Fed officials appear to be reasonably confident that disinflation won’t persist, and that means they’re still on course to raise rates this year.
More jobs and expectations of slightly higher inflation were the preconditions for the first rate hike. So what happened?
Turmoil overseas, especially in China, where authorities seem to be bungling the soft landing that everyone assumed was coming.
Lower demand from China means falling prices and weaker growth in countries that produce raw materials, such as oil, metals and other commodities. In turn, the dollar has appreciated, bringing deflationary forces to the U.S. and weakening our competitiveness in exports, especially manufactured goods.
So far, Fed officials aren’t overly concerned about global developments. They are still confident that the troubles won’t change the trajectory of the U.S. economy too much.
In the grand scheme of things, it doesn’t matter too much if the Fed raises rates now or in October or December. But it’s possible that the global headwinds will grow. What if the dollar is even stronger in October? What if there’s more blowback in the U.S. stock market, or in the exchange rate of the dollar or if commodity prices melt down further?
Fed officials can’t say what they will do next until they see how economic and financial events unfold.
The unemployment rate and the inflation rate are no longer the triggers for Fed action. Instead, it’s the Shanghai market, the price of oil, the value of the dollar, and the stability of dozens of economies that will tell the Fed when it’s safe to raise rates.
Be prepared for more volatility, uncertainty and speculation.
The mission in Iraq was initiated on erroneous, substandard and insufficient evidence.
The human cost was never assured, but might have been lowered significantly if a much larger force were actually allowed to take over the country, rather than depending upon the idea that it was taken over. Ideas and reality are not always in congruence.
The method used was psychological warfare which was not effective enough.
ISIS is now a black hole of existence sucking everything near it into itself.
Radicals are now within the refugees that are leaving Syria spreading themselves to all nations, making all nations more unsafe than before the 2004 invasion.
The perpetrators of this war have not given up on the Psychological warfare, even though elections have proven that it does not work.
The United States is a state sponsor of terrorism. (Israel)
THE STATE which is supposed to protect us has made us all more unsafe. People under the label of Republicans are lying to people about responsibility of the failed effort in Iraq.