In Fed We Trust

In Fed We Trust

Ben Bernanke's War on the Great Panic

eBook - 2009
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In this penetrating look inside the most powerful economic institution in the world, the Federal Reserve, David Wessel illuminates its opaque and undemocratic inner workings, while revealing how its chairman Ben Bernanke led the desperate effort to prevent the world's financial engine from grinding to a halt.
Publisher: New York : Crown Business, 2009
ISBN: 9780307459701


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May 17, 2014

This book is such a complete and total crock: Bernanke, prior to testifying before congress, had to call in the so-called experts to brief him on credit derivatives and securitizations, of which he was clueless. His Quantitative Easings [I, II, III and ?] simply paid the super-rich again, after they profited numerous times from those credit derivatives, now called toxic assets, but really simply junk paper! Not only did and does the Fed buy up those credit derivatives now deemed toxic, but they actually pay interest to the banksters for receiving said monies from the Fed! Whatever the truth is, it will never come from Wessel! [Important to understand that the critics of credit derivatives, like Warren Buffet, were the same forces behind their adoption: Buffet was chairman of Salomon Brothers, one of the five Wall Street firms which lobbied for their adoption and removal of legal risk [their lobbyist group was called the Derivatives Research Group]. All Bernanke did was oversee the greatest wealth theft [the media calls it wealth transfer???] in history - - should be stocked in the fiction section.

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