The Phaserl


AS TOTAL COLLAPSE DRAWS NEAR: Bernanke Calls For POSECUTIONS of Top Financial Execs Over 2008 Meltdown

[Ed. Note: As total collapse draws near, the rats try to escape the Titanic. And if this isn’t a case of the pot calling the kettle black, we don’t know what is. Hilarious.]

from RT:

Former Federal Reserve Chairman Ben Bernanke, who led the US through the financial meltdown of 2008, said that top financial executives should have been prosecuted for their role in creating the worst economic crisis since the Great Depression.

Speaking to USA Today, Bernanke blamed the US Justice Department for going after the firms instead of focusing on the individuals who had been running huge American corporations.

“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 said in the interview.

“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. Now a financial firm is of course a legal fiction; it’s not a person. You can’t put a financial firm in jail.”

At the same time, the 71-year-old praised his institution for handling the financial meltdown saying they had done everything in order to avoid the repetition of the Great Depression of the 1930s.

“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,” he told USA TODAY. “The panic that hit us was enormous — I think the worst in US history.”

READ MORE: Ben Bernanke gets $250k for his first post-Fed speech

The global financial meltdown started in July 2007 with a liquidity crisis, which resulted in the US Federal Bank injecting a large amount of capital into financial markets. By September 2008, the crisis had worsened, with stock markets around the globe crashing and trading becoming extremely volatile. In turn, consumer confidence hit rock bottom on account of fears of what could lie ahead.

Read More @

hat tip: Tricia

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5 comments to AS TOTAL COLLAPSE DRAWS NEAR: Bernanke Calls For POSECUTIONS of Top Financial Execs Over 2008 Meltdown

  • Marty

    These federal reserve chiefs are big on doing the right thing, AFTER they leave office. They don’t want to be remembered as complete, and absolute evil, clueless, lying, bastards. Once they are out of power they suddenly start seeing the writing on the wall.
    That bastard Alan “the Maestro” Greenspan pulls the same crap. All of a sudden he comes out with, gold is money, gold will preserve your wealth. Well duhhhh.
    It really annoys me. Someone pleas beat crap out of these two, please, and don’t forget Yellen!

  • karate kid

    great start with the top officals like Bernanke 20 years

  • Craig escaped from Detroit

    Yep, it would be great to see the ones who were all involved with creating this mess were quickly seized, jailed while awaiting trial, and also seize all their assets here and abroad, and seize TRUST funds, annuities and all assets that (by them) were put into the names of corporations and into the names of family members, or the State is Israel, etc.

    Grab inheritances that go to the children & grandchildren & wives of all those banksturds who were involved at just about every level, including the robo-signers, mortgage fraudsters, repo specialists, lawyers too.

    Henry Paulson, Greenspan, Bernanke, Yellen, Dimon, Blankfein, Corzine, Mozillo, Rockefeller, Rothschilds, etc, and probably a thousand others (if not higher).

    Don’t forget those who funneled and stole (disappeared) billions/trillions of dollars into the Pentagon, military, intelligence, and manufacturers of military hardware and contracting companies, (Halliburton, Black Water-Xi- or what ever they call themselves today), etc.

    But I fear that NO such thing will ever happen, and they ONLY way all the criminals will ever be dealt with, is from their own OLD AGE deaths (and Karma). But at least, MOST of them will ALL be dead in the next 25 years (from old age.) The WORST of them, will probably be dead in 10 years or less. (Bush Sr., Cheney, Rumsfeld, Clinton, Soros, Buffet, Ichan, Greenspan, Adelson,

    One HAPPY note in the passing of the wealth from Criminal Father to son,,,,, is that much of it will be in the form of FIATs, Stocks, bonds, real estate (all the things that will be CRASHING from the crisis). If daddy & sonny boy don’t have real gold & silver, then they’ll be poor and NOT know how to survive without uber-wealth. 🙂

  • anon

    +1 Marty (“These federal reserve chiefs are big on doing the right thing, AFTER they leave office.”)
    +1 Karate Kid (“great start with the top officals like Bernanke 20 years”)
    +1 Craig escaped from Detroit (“The WORST of them, will probably be dead in 10 years or less.”)

    Hey, Helicopter Ben, what about this?

    Bernanke Claims That The Fed Has Averted A Second Great Depression By Bailing Out The Too Big To Fail Banks

    • anon

      Yeah, sure, Helicopter Ben, call for “justice” and the prosecution of maybe one or two low-level lieutenants, or just low-level operators in this or that bank, and rest assured in the knowledge, that once you’re a “made man” (as head of the “Federal” “Reserve”), you are now ABOVE THE LAW. Yep. No prosecutions will be forthcoming for those directly at the source of the economic problem(s) facing America, and Americans.

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