Ben Bernanke

  • News

    Mark To Bernanke

    If you dozed off for just a second, you missed it. Federal Reserve Chairman Ben S. Bernanke said accounting standard-setters need to figure out how the mark-to-market rule blamed for worsening the global financial crisis should be followed when assets aren’t readily traded. The rule, which requires companies to write down assets every quarter to […]

    / Feb 25, 2009 at 4:53 PM
  • News

    Return Of The Beard: Frank Versus The Beard

    10:03: Congresscritters wander into the hearing room. Frank: There is no option other to work with the existing system. Sure, we have to bail out the bankers that you hate, but this is the first important step in totally revamping the financial system in the way we think it should be reconstructed. So just relax, […]

    / Feb 25, 2009 at 10:03 AM
  • News

    We Listen To The Beard So You Don’t Have To

    Big Ben, Live: Ben: Sorry I’m late. Was helping Geithner with some math problems, and as you can see, my wife’s cat puked on my tie. Dodd: Here is how this hearing works. I grandstand for a few minutes, then I will tell you how fucked we are and exactly who was responsible. I will […]

    / Feb 24, 2009 at 9:57 AM
  • News

    Fed Indicates That Fed May Consider Ability To Act When Acting

    It almost feels like Greenspan is back. “Although conventional interest rate policy is constrained by the fact that nominal interest rates cannot fall below zero, the second arrow in the Federal Reserve’s quiver — the provision of liquidity — remains effective,” Mr. Bernanke said. Bernanke: More Rate Cuts ‘Certainly Feasible’ [The Wall Street Journal]

    / Dec 1, 2008 at 2:23 PM
  • News

    Bank Robbery Of Another Kind

    “I feel like Butch Cassidy and the Sundance Kid. Who are these guys that just keep coming?” — Treasury Secretary Henry Paulson Jr. We quite like the image of Beard and Bald as the “Banditos Americanos” of Butch Cassidy and the Sundance Kid fame. Racing around on horseback, blowing up safes, being pursued by doggedly […]

    / Oct 23, 2008 at 10:01 AM
  • News

    DealBreaker Afterdark: Bernanke Endorses Obama

    A bit obnoxious as a headline for the Wall Street Journal (and of us for telegraphing it), no? Really, the entire piece makes this entry more about the continuing slide in Wall Street Journal quality than any political statement or position. (Actually, we find it quite amusing what some of the readers here think our […]

    / Oct 21, 2008 at 1:48 AM
  • News

    Shortages You Never Expected

    You are certain that the credit crisis is cutting into normal life when you tune to CNBC and see Rosa DeLauro (D-CT) ranting from the podium of the House Committee on the Budget. You know that things are way off kilter because there simply must be a very severe shortage of lithium and chlorpromazine in […]

    / Oct 20, 2008 at 11:11 AM
  • News

    Professor Beard Is Back

    Lecturing Congress like a Monday morning professor, again. Ugh. I think I am detecting a pattern here. A droning, dense lecture that bores the markets into a placid, dumb calm. I used to think him annoying lacking in initiative. I mean, he’s telling them what TARP is again, and what it will do. But, considering […]

    / Oct 20, 2008 at 10:11 AM
  • News

    Liveblogging (Sort Of) The Bailout Hearings

    Paulson and The Beard are facing the panel. What glee! 11:30: Lots of hammering away on the issue of mortgage foreclosure assistance. If the issue was bad lending, the argument goes, why aren’t we doing more for foreclosure assistance? What other plans did the Treasury consider before adopting the plan that is before the congressmen […]

    / Sep 23, 2008 at 11:33 AM
  • News

    Will The Maestro Take This Burn Sitting Down*?

    Some senator to the Beard of Reasoning: “You are refreshingly different from your predecessor.” Related: Bernanke’s Big Moment *A word of caution to those answering “Hell fuck no!”– please realize that this would necessitate actually get out of the tub, which we all know violates The Maestro’s fundamental beliefs, and would interrupt his flow.

    / Jul 15, 2008 at 11:46 AM
  • News

    The Irrelevancy Of Our Lame Duck President

    It’s hard to think of a starker demonstration of the irrelevancy of George Bush than the split screen running now on CNBC. On the right, Fed chairman Ben Bernanke answers lawmakers’ questions on Capital Hill, warning everyone that economic growth will continue to be anemic for longer than expected. On the left, George Bush silently […]

    / Jul 15, 2008 at 10:58 AM
  • News

    Bernanke and Paulson Friends Forever, Push Blueprint in DC

    The testimony before the House today showed a very collegial relationship between Bernanke and Paulson as they alternately answered questions and swatted down attacks. Their explanations stuck to the plan, specifically Paulson’s Blueprint, as they repeatedly mentioned that Congress would need to reform financial regulation as well as grant new powers. Most startling to our […]

    / Jul 10, 2008 at 2:01 PM
  • News

    Mr. Bernanke Goes to Washington

    Ben Bernanke and Hank Paulson are currently testifying before the House about current economic conditions. Besides staring at Hank’s sports watch while a congressman complains about the scarcity of student loans, we’ve also been enjoying Bernanke’s back and forth with the representatives. One congressman challenged Bernanke directly, attacking the federally-sponsored buyout of Bear Stearns and […]

    / Jul 10, 2008 at 1:45 PM
  • politics

    Cox to Bernanke and Paulson: “How Come You Guys Don’t Call Anymore?”

    SEC chair Christopher Cox missed the 5am conference call when Ben Bernanke and Hank Paulson decided that the Fed would lend funds to rescue Bear Stearns from bankruptcy, the Wall Street Journal reports on today’s front page. The call’s time changed and no one bothered to tell Cox, who didn’t know until he came into […]

    / Jun 23, 2008 at 1:21 PM
  • News

    Scenario Contest Friday

    This man was spotted outside the Federal Reserve Bank of New York yesterday at 11:20 am.

    / Jun 13, 2008 at 12:25 PM
  • News

    Fed Cuts 25 Basis Points: UPDATE

    My darlings, you are in for a treat. I just got off the phone with Carney, who called moments after the Fed’s 25 basis point cut announcement. Now, we won’t be forced to slog through a piss poor attempt on my part to replicate the post-decision congratulatory remarks we’ve all come to know, love and […]

    / Apr 30, 2008 at 2:58 PM
  • News

    Keep On Predicting What The Fed Will Do– Because Ron Would’ve Wanted It That Way

    Just in case you missed it, we ran a reader poll yesterday to predict what the Fed will do at 2:15, in memoriam of our fearless leader, Bon Quarney. Lon loved breaking out his crystal ball on such occasions (and what visions! Don’t get me started reminiscing…), and while the DealBreaker Fed Poll was his […]

    / Apr 30, 2008 at 10:30 AM

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