I don’t believe Ben is the right person for the job. There are five fundamental reasons:

(1) He does not act like a financial person, he acts more like a junior person. To act like a senior person, he should be testifying before Congress about what is best for America, not on how to backstop Administration spending plans;

(2) I don’t trust him. The transactions that were done in New York where the Fed intervened have set a REALLY bad precedent (when trouble comes, taxpayers pay in front of shareholders and bondholders). I have to assume that he does not know how to negotiate, or he is a pawn. I am not sure which is worse.

(3) ANYONE in the banking industry knows that too big to fail was a result of FED ACTIONS and allowing mergers that should have never been allowed. He should take responsibility, and allow this role (where the Fed has failed America) to be taken away from the Fed;

(4) There is the issue of his being “in the employment of Wall Street since 1990 that leads me to believe that he could never run an organization that punishes Wall Street;

(5) Just a person opinion, but I think he is ineffective and unqualified to be one of our top two financial people in this country.

- SavCD

Related Posts:

• Joseph Stiglitz on the bank “rescue” :
• Just called my Congresswoman and said:
• America needs new income in the system from somewhere other than the taxpayer.
• Focus on the big picture re: employment.
• Bernanke 2005 vs 2009: “There’s No Housing Bubble to Go Bust”

Leave a comment