Chris Dodd On Geithner, Summers & Bernanke's Reconfirmation
Video: Chris Dodd With Citizen Journalist Mike Stark -- November 20, 2009
Just six weeks after he told Reuters it was essentially a done deal, Senate Banking Committee Chairman Christopher Dodd punted when asked about the likelihood of Federal Reserve Chairman Ben Bernanke's confirmation for a second term.
Asked by a citizen journalist if it was a foregone conclusion that Bernanke's nomination for a second term would be confirmed by the Senate, Dodd replied: "Not necessarily, not necessarily. We'll see how members react."
"While I have had serious differences with the Federal Reserve over the past few years, I think reappointing Chairman Bernanke is probably the right choice. Chairman Bernanke was too slow to act during the early stages of the foreclosure crisis, but he ultimately demonstrated effective leadership and his reappointment sends the right signal to the markets.
There will be a thorough and comprehensive confirmation hearing. I still have serious concerns about the Federal Reserve's failure to protect consumers and I strongly believe these responsibilities should go to an independent consumer financial protection agency. I expect many serious questions will be raised about the role of the Federal Reserve moving forward and what authorities it should and should not have."
In the video, Dodd also acknowledged some of his own shortcomings as a member then chairman of the banking committee, in the context of Bernanke's recent performance:
"He's been better on some of these issues, which I wish I'd paid attention to years before."
Read the rest of the article at Huffington Post >>
------
Nov 24, 2009 at 4:40 AM
Reader Comments (3)
The Dollar Bubble starring Peter Schiff, Ron Paul, Marc Faber, Gerald Celente, Jim Rogers, and others. Prepare now for the U.S. dollar collapse.
http://www.youtube.com/user/InflationUS
The National Inflation Association's new 30 minute documentary, 'The Dollar Bubble', is almost complete and expected to be released this holiday week. The Dollar Bubble is the sequel to NIA's critically acclaimed 'Hyperinflation Nation', which has now received over 310,000 views since June 28th.
The Dollar Bubble is the most informative and comprehensive documentary ever produced on the Federal Reserve's destructive monetary policies and the upcoming collapse of the U.S. dollar. This Thanksgiving, the best way to give thanks to those you care about is to have them watch The Dollar Bubble. It will help them survive and prosper during the real economic collapse we are rapidly approaching.
The documentary is condensed with information detailing how the U.S. dollar's days as the world's reserve currency are coming to an end and how the U.S. government's rapidly increasing budget deficits combined with accelerating national debt growth could bring the entire economic system in the U.S. to an end. It will feature exclusive footage of interviews we have conducted with some of the Internet's most accurate and respected economic forecasters.
NIA has invested hundreds of hours into the production of The Dollar Bubble in hopes of educating the American public to the truth about the economy. While the mainstream media will soon proclaim a "Gold Bubble", we know the only true bubble we have today is in the U.S. dollar. As the U.S. dollar collapses, NIA believes it will set boom to the biggest rally we have ever seen in the prices of gold, silver and agriculture. In one scene of The Dollar Bubble, NIA will show how if you sell your house today and invest in silver, you might be able to afford a ten times nicer house in 5 to 10 years.
Please spread the word about NIA and have your friends subscribe for free at http://inflation.us to be the first to see The Dollar Bubble as soon as it is released this week.
http://www.youtube.com/user/InflationUS
AMERICAN CORPORATIONS WHO TAKE ADVANTAGE OF FOREIGN LABOR
WHO DEPRIVE US OF JOBS ARE GUILTY OF TREASON IN MY BOOK! ENJOY YOUR STEAK AND LOBSTER IN THE HAMPTONS WHILE AMERICA DECAYS! THERE MAY COME A DAY WHEN THE STARVING COME TO YOUR ESTATE TO BURN IT DOWN!
IT DOES NOT MATTER WHAT THEY DO...IT IS THE SYSTEM OF DEBT THAT BRINGS THIS DOWN.
http://www.pbs.org/wgbh/pages/frontline/creditcards/view/
Consumers , cut teh plastic and stop paying..kill the bankers..way to go