The Arizona Sentinel

November 27, 2012

The Next Fed Chairman should be=Sheila Bair

Filed under: My Posts — Tags: , , , , , — thearizonasentinel @ 2:43 pm

Seven Zingers in Sheila Bair’s New Book

By Victoria McGrane

Associated Press
Treasury Secretary Timothy Geithner, left, talks with then-FDIC Chairman Sheila Bair, second from left, as Federal Reserve Chairman Ben Bernanke, center, talks with Securities and Exchange Commission Chairman Mary Schapiro in November 2010.

Former FDIC Chairman Sheila Bair demonstrates a talent for crafting a withering turn of phrase in her new book as noted earlier in Washington Wire. Here is a brief list of some of her top zingers.

  • Treasury Secretary Tim Geithner “looked like a scared little boy” at the press conference where he announced the 2009 stress test initiative. He was chosen to be Treasury Secretary “for all the wrong reasons… That ill-fated choice was painfully apparent as he struggled to get the words out, his voice at times quivering, his eyes darting nervously back and forth across the room.”
  • “Was it gross incompetence or unbelievable disrespect?… Maybe the boys didn’t want Sheila Bair playing their sandbox.” – Bair on learning that other regulators didn’t loop her in on developments in rescuing Wachovia during the financial crisis.
  • Citigroup’s Vikram Pandit “wouldn’t have known how to underwrite a loan if his life depended on it.”
  • The Obama administration’s 2009 plan to help struggling homeowners “was doomed to failure,” “cheated borrowers” and was “designed to look good in a press release, not to fix the housing market.”
  • Then-Treasury Secretary Henry Paulson and Neel Kashkari, who was heading the bank bailout-program TARP, pulled a “bait and switch” on American taxpayers by claiming that TARP wouldn’t let Treasury use the funds for mortgage modifications.
  • On Mr. Paulson not having time to meet with her early on: “Clearly, the former CEO of Goldman Sachs didn’t think the head of an agency that insured $100,000 bank deposits was worth his time. That would change…”
  • Ms. Bair got zinged herself by a protester outside the Treasury building during TARP negotiations, mistaking her for a “fat cat” banker as she exited. “How much did that suit cost?” the protester asked. $139 at Macy’s, Bair replied.

More

Bair on Geithner, Bankers, Obama’s Housing Plan

Video of WSJ Interview

Below, Ms. Bair talks about Mr. Geithner’s role in the bailout.

September 21, 2012

If we had a educational system that worked, Romneys Statments could be understood by the 47%.

Filed under: My Posts — Tags: , , , , , , , , — thearizonasentinel @ 8:22 am

“I want you to listen carefully to what Mitt Romney said is the biggest problem in our country. A response to a question – read what Romney says about the Federal Reserve.

“Yeah, it’s interesting…the former head of Goldman Sachs, John Whitehead, was also the former head of the New York Federal Reserve. And I met with him, and he said as soon as the Fed stops buying all the debt that we’re issuing—which they’ve been doing, the Fed’s buying like three-quarters of the debt that America issues. He said, once that’s over, he said we’re going to have a failed Treasury auction, interest rates are going to have to go up. We’re living in this borrowed fantasy world, where the government keeps on borrowing money. You know, we borrow this extra trillion a year, we wonder who’s loaning us the trillion? The Chinese aren’t loaning us anymore. The Russians aren’t loaning it to us anymore. So who’s giving us the trillion? And the answer is we’re just making it up. The Federal Reserve is just taking it and saying, “Here, we’re giving it.’ It’s just made up money, and this does not augur well for our economic future.

You know, some of these things are complex enough it’s not easy for people to understand, but your point of saying, bankruptcy usually concentrates the mind.”

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The 47% referred to by the Marxist media, are being led around like a Holstein bull with a ring in his nose.  Once this dirt cloud blows through, that the politicians in America have created . What will America look like once the dirt settles,  or will it ever settle?  Oil was has 93 plus this morning. Diesel which is a by-product of the productions of gasoline is 4.25 to 4.40 per gallon. Gas should be 1.50 and Diesel should be $1.10.  If Romney wants to win, he should come out and say he will remove speculators from the commodity market.  Fuel should go from the refinery to the distributor to the vendor ,period.  If your going to bid on fuel, you must take possession of that product.  Also , not one gallon of our petroleum products should be allowed to be exported.

The idiots that want to see European fuel prices in the U.S. should learn that state taxes , in Europe , on fuel have led directly to the collapse of the European economy.  Because it led to an entitlement society..  It’s a failed model on its face.

Bernanke is driving up the price of fuel , and everything fuel touches,by inflating the dollar, making it worthless.   This idiot should be tarred, feathered and shipped to some island where he can do no more harm to the American economy or society.

Two hundred and eight coal fired electric plants are scheduled to close by the end of the year.   These fools that are going to vote for obama, better stock up on candles and kerosene!.

Its time to play hardball Mitt!!!  Start running your own campaign, or we will lose this country.

TAS.

November 11, 2011

Bernanke carrying the water for Obama!!!

Filed under: My Posts — Tags: , , — thearizonasentinel @ 11:01 am

Ben Bernanke makes a surprise trip to a military base.  Now why do you suppose that is.   Folks its as plain as the nose on your face. He is attempting to stop or slow down the Campaign Contributions from the Military men and women , to Ron Paul.  Its that simple, nothing more to be said. He is simply a water boy for the White House.  One thing is for sure, he needs to be looking for a job, go back to academia where he belongs. When all you’ve got going for you is obama, your gonna be bottom feeding until he’s gone.  No pun intended!!!!!  Wait ,  I take that back.

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