Bernanke talks with Senate Banking Committee

[Modelworks]

Talking about how banks could be seized and that we are on a slow climb to nationalization.
Bernanke saying it wouldn't be nationalization but a public/private partnership ? LOL

 

[OrByte]

avoid the words 'nationalization' or 'depression' when discussing the current economy.

Thanks Barnke for being straightforward with your comments :roll:

 

[Modelworks]

Senator comparing banks to zombie or dead man walking, with no change.
Bernanke didn't like that zombie comment !

 

[StageLeft]

And yet the market is up 100. Yeah, that's gonna hold. We've seen the bottom, folks.

EDIT: That is sarcasm in case there's any doubt.

 

[TallBill]

"Ascertain the state of the banks" ??? !!!

 

[Modelworks]

Senator - what about the banks that are insolvent, that the investors have no confidence in, shouldn't we just close them down
Bernanke - we are following the law, we can't just go in and shut down the banks, I think through our regulatory process get them to improve, I think the major banks we have now can get stabilized
Senator - are we going down the same road as Japan ?
Bernanke - right now the view is these assessments will tell how much capital they need to support the economy
My belief is we will come out of this with more capital that these banks need and without being detrimental to the economy.

Has Bernanke been smoking weed ?

Translation - WE NEED MORE MONEY !

 

[PingSpike]

Not sure what he's suppose to say. "We're fucked dudes, I'm moving to Alaska and opening a weed farm."