HR 1207 Cosponsor Dan Burton Questions Bernanke on the B.of A./Merrill Lynch Merger

peaceandlove · 06-25-2009, 09:15 PM

Whoa, Bernanke's voice is shaking again, sure sign of lying.

HR 1207 Co-sponsor Dan Burton Questions Bernanke on the B.of A./Merrill Lynch Merger

Posted by Matt Hawes on 06/25/09 3:04 PM

VIDEO (5:20) and SOURCE: http://www.campaignforliberty.com/blog.php?view=20673

peaceandlove · 06-26-2009, 01:03 AM

*FLASH* Hearings: Quick Note (Updating)

Thursday, June 25. 2009
Posted by Karl Denninger in Federal Reserve

(Will be updated during the hearing - check back often)

The hearing that is now on CSPAN (and being covered by CNBC, surprise!) leaves Bernanke looking very bad.

In fact, it appears that he may have been caught in perjury earlier this year when he testified that they had "no" influence on disclosure by BAC.

These folks have the goods, and they're not intending to let go. Bernanke is attempting the usual "I don't recall" weasel-word nonsense - the problem is that it doesn't work when the committee has actual emails, and they do.

More later, including video excerpts if appropriate (and I bet they will be); I have the CSPAN stream on capture.

In my opinion Bernanke is toast, and he may not be the only one who gets fried here. Indeed I would not be surprised if some sort of conspiracy charge comes out of this.

IMHO the FBI should be serving warrants on all the involved Fed districts, The Federal Reserve itself and Bank of America, seizing the computers and IT systems involved to examine all of the emails and other related material.

There is at least one perjurer in the bunch and quite likely more than one.

UPDATE: "In order for people to keep from perjuring themselves, they always seem to not be able to remember, are you sure you can't remember?" - Question to Bernanke

"Did the taxpayer subsidize the purchase of Merrill?" (The Fed "gave" them $15 billion, which incidentally was the purchase price.) - Question to Bernanke

Lots of "I don't recall's" - perjury avoidance my friends, and that's all.

No, the heat you feel is not the lights for the TV cameras Ben.....

SOURCE: http://market-ticker.denninger.net/a...-Updating.html

You can hear Bernanke's shakey voice in this interview also, if you haven't already heard it.

Congresswoman Kaptur Grills Federal Reserve Chair Bernanke

http://www.youtube.com/watch?v=p0imH...layer_embedded

peaceandlove · 06-26-2009, 01:21 AM

It appears that Bernanke is going to loose his seat in this next round of Musical Chairs!

If not Bernanke, there will be someone who is made an example of who is close to the Fed.

Pull up a seat and watch the show!

Lawmaker accuses Fed of "Cover-Up" in Bank of America Deal

Thu Jun 25, 2009 1:13am EDT

By Kim Dixon

WASHINGTON (Reuters) - The Federal Reserve sought to hide its involvement in Bank of America Corp's acquisition of Merrill Lynch as Merrill's financial condition worsened, the top Republican on the House Oversight and Government Reform Committee said on Wednesday.

The Fed "engaged in a cover-up and deliberately hid concerns and pertinent details regarding the merger from other federal regulatory agencies," Representative Darrell Issa said in a statement released to Reuters.

Bernanke has in the past denied any inappropriate pressure on Bank of America. Fed spokeswoman Michelle Smith on Wednesday referred to a letter Bernanke sent Representative Dennis Kucinich on April 30 and later testimony in which he offered an "unconditional assertion" that he did not ask Bank of America CEO Ken Lewis to withhold information regarding Merrill.

"The Federal Reserve acted with the highest integrity throughout its discussions with Bank of America," Bernanke wrote to the Ohio Democrat, who chairs a subcommittee on the Oversight panel.

The Democrat who heads the committee, Edolphus Towns of New York, has called Bernanke to testify on Thursday. "I am not going to prejudge these issues. We are not even close to finishing the Bank of America-Merrill Lynch investigation at this point," Towns said in a statement.

Continues: http://www.campaignforliberty.com/wire.php?view=6078

peaceandlove · 06-26-2009, 02:20 AM

Jim Bunning and Ron Paul: Fed trendsetters?

By VICTORIA MCGRANE | 6/25/09 5:03 AM EDT
http://www.politico.com/news/stories...xzz0JUyvfwfH&D

Members of the House Oversight and Government Reform Committee will line up Thursday to take their shots at Federal Reserve Chairman Ben Bernanke.

To which Ron Paul and Jim Bunning might say: Where have you been?

Paul and Bunning — viewed by their colleagues as among the most eccentric members of Congress — were anti-Fed before anti-Fed was cool.

Paul, a Republican representative from Texas, has railed against the Federal Reserve for so long that his supporters sometimes chanted “End the Fed! End the Fed!” at rallies during his long-shot 2008 presidential run.

Bunning, a Republican senator from Kentucky, hates the Fed so much that he compared it — unfavorably — with Venezuelan President Hugo Chavez when it bailed out the insurance giant American International Group last year.

The two were outliers then, but they aren’t now. Republicans and Democrats alike have balked at President Barack Obama’s proposal to expand the Fed’s power to help prevent another financial crisis. And on Thursday, members of the House Oversight and Government Reform Committee — which has already served the Fed two subpoenas on the issue — will hammer Bernanke face to face for his role in aiding Bank of America’s takeover of Merrill Lynch, for which Bank of America received $20 billion in bailout funds.

Paul says he’s happy to have his colleagues jump aboard his bandwagon.

“I feel pretty good about it,” Paul told POLITICO.

Paul doesn’t claim responsibility for the anti-Fed movement on the Hill. “I don’t think it’s me so much as the circumstances,” he said. And he readily admits that his real goal — abolishing the Fed altogether — still faces plenty of resistance.

Continues: http://www.politico.com/news/stories...xzz0JUz76DTe&D

peaceandlove · 06-26-2009, 11:10 PM

Bernanke Grilling May Weaken Case for Expanded Powers

By Craig Torres and Scott Lanman

June 26 (Bloomberg) -- Chairman Ben S. Bernanke’s grilling by legislators over Federal Reserve conduct in Bank of America Corp.’s takeover of Merrill Lynch & Co. may reduce the odds the central bank will win new powers in a regulatory overhaul.

Bernanke failed to resolve some lawmakers’ questions on whether the Fed bullied executives and stepped over other regulators in the name of financial stability in a three-hour congressional hearing yesterday. Republicans asserted the Fed interfered with commercial decisions, and Democrats said it should have wrung more concessions in return for taxpayer aid.

Continues: http://www.campaignforliberty.com/wire.php?view=6095

Tango · 06-27-2009, 12:42 AM

Thank you, for posting this...

Every mind needs to " think about this " keep the pressure on...

The truth will come out on this... We all just need to help it...

PaL your the PiP

Trooly,

Tango

Quote:

Originally Posted by peaceandlove

Bernanke Grilling May Weaken Case for Expanded Powers

By Craig Torres and Scott Lanman

June 26 (Bloomberg) -- Chairman Ben S. Bernanke’s grilling by legislators over Federal Reserve conduct in Bank of America Corp.’s takeover of Merrill Lynch & Co. may reduce the odds the central bank will win new powers in a regulatory overhaul.

Bernanke failed to resolve some lawmakers’ questions on whether the Fed bullied executives and stepped over other regulators in the name of financial stability in a three-hour congressional hearing yesterday. Republicans asserted the Fed interfered with commercial decisions, and Democrats said it should have wrung more concessions in return for taxpayer aid.

Continues: http://www.campaignforliberty.com/wire.php?view=6095

peaceandlove · 06-28-2009, 09:32 AM

White House: Obama Has Confidence In Fed Chair Bernanke

June 25, 2009: 03:54 PM ET

WASHINGTON -(Dow Jones)- President Barack Obama has confidence in Federal Reserve Chairman Ben Bernanke and no concerns about the central bank's role in Bank of America's (BAC) merger with Merrill Lynch, the White House said Thursday.

"He has confidence in the job that Chairman Bernanke has done and confidence in the role that the Fed will play going forward to ensure what's happened never happens again," White House spokesman Robert Gibbs said. GIBBS...WHAT A GOON!

Obama, however, has dodged questions over Bernanke's future at the Fed.

The chairman's term expires at the end of January, prompting speculation that he may be replaced.

At a Congressional hearing Thursday, lawmakers vigorously grilled Bernanke on the Bank of America transaction and questioned whether the central bank should be given new powers under the administration's proposed reform of the regulatory system.

Asked if the White House has any concern over the Bank of America matter, Gibbs said, "No."

aka District of Columbia stamp!!

SOURCE and COMMENTS: http://www.campaignforliberty.com/wire.php?view=6113

Seashore · 06-28-2009, 10:08 AM

Quote:

Originally Posted by Tango

Every mind needs to " think about this " keep the pressure on...

The truth will come out on this... We all just need to help it...

I want to help it!!

06-25-2009, 09:15 PM	#1
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	HR 1207 Cosponsor Dan Burton Questions Bernanke on the B.of A./Merrill Lynch Merger Whoa, Bernanke's voice is shaking again, sure sign of lying. HR 1207 Co-sponsor Dan Burton Questions Bernanke on the B.of A./Merrill Lynch Merger Posted by Matt Hawes on 06/25/09 3:04 PM VIDEO (5:20) and SOURCE: http://www.campaignforliberty.com/blog.php?view=20673 Last edited by peaceandlove; 06-25-2009 at 09:33 PM.

06-26-2009, 01:03 AM	#2
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: HR 1207 Cosponsor Dan Burton Questions Bernanke on the B.of A./Merrill Lynch Merg FLASH Hearings: Quick Note (Updating) Thursday, June 25. 2009 Posted by Karl Denninger in Federal Reserve (Will be updated during the hearing - check back often) The hearing that is now on CSPAN (and being covered by CNBC, surprise!) leaves Bernanke looking very bad. In fact, it appears that he may have been caught in perjury earlier this year when he testified that they had "no" influence on disclosure by BAC. These folks have the goods, and they're not intending to let go. Bernanke is attempting the usual "I don't recall" weasel-word nonsense - the problem is that it doesn't work when the committee has actual emails, and they do. More later, including video excerpts if appropriate (and I bet they will be); I have the CSPAN stream on capture. In my opinion Bernanke is toast, and he may not be the only one who gets fried here. Indeed I would not be surprised if some sort of conspiracy charge comes out of this. IMHO the FBI should be serving warrants on all the involved Fed districts, The Federal Reserve itself and Bank of America, seizing the computers and IT systems involved to examine all of the emails and other related material. There is at least one perjurer in the bunch and quite likely more than one. UPDATE: "In order for people to keep from perjuring themselves, they always seem to not be able to remember, are you sure you can't remember?" - Question to Bernanke "Did the taxpayer subsidize the purchase of Merrill?" (The Fed "gave" them $15 billion, which incidentally was the purchase price.) - Question to Bernanke Lots of "I don't recall's" - perjury avoidance my friends, and that's all. No, the heat you feel is not the lights for the TV cameras Ben..... SOURCE: http://market-ticker.denninger.net/a...-Updating.html You can hear Bernanke's shakey voice in this interview also, if you haven't already heard it. Congresswoman Kaptur Grills Federal Reserve Chair Bernanke http://www.youtube.com/watch?v=p0imH...layer_embedded Last edited by peaceandlove; 06-28-2009 at 09:48 AM.

06-26-2009, 01:21 AM	#3
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: HR 1207 Cosponsor Dan Burton Questions Bernanke on the B.of A./Merrill Lynch Merg It appears that Bernanke is going to loose his seat in this next round of Musical Chairs! If not Bernanke, there will be someone who is made an example of who is close to the Fed. Pull up a seat and watch the show! Lawmaker accuses Fed of "Cover-Up" in Bank of America Deal Thu Jun 25, 2009 1:13am EDT By Kim Dixon WASHINGTON (Reuters) - The Federal Reserve sought to hide its involvement in Bank of America Corp's acquisition of Merrill Lynch as Merrill's financial condition worsened, the top Republican on the House Oversight and Government Reform Committee said on Wednesday. The Fed "engaged in a cover-up and deliberately hid concerns and pertinent details regarding the merger from other federal regulatory agencies," Representative Darrell Issa said in a statement released to Reuters. Bernanke has in the past denied any inappropriate pressure on Bank of America. Fed spokeswoman Michelle Smith on Wednesday referred to a letter Bernanke sent Representative Dennis Kucinich on April 30 and later testimony in which he offered an "unconditional assertion" that he did not ask Bank of America CEO Ken Lewis to withhold information regarding Merrill. "The Federal Reserve acted with the highest integrity throughout its discussions with Bank of America," Bernanke wrote to the Ohio Democrat, who chairs a subcommittee on the Oversight panel. The Democrat who heads the committee, Edolphus Towns of New York, has called Bernanke to testify on Thursday. "I am not going to prejudge these issues. We are not even close to finishing the Bank of America-Merrill Lynch investigation at this point," Towns said in a statement. Continues: http://www.campaignforliberty.com/wire.php?view=6078 Last edited by peaceandlove; 06-26-2009 at 01:24 AM.

06-26-2009, 02:20 AM	#4
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: HR 1207 Cosponsor Dan Burton Questions Bernanke on the B.of A./Merrill Lynch Merg Jim Bunning and Ron Paul: Fed trendsetters? By VICTORIA MCGRANE \| 6/25/09 5:03 AM EDT http://www.politico.com/news/stories...xzz0JUyvfwfH&D Members of the House Oversight and Government Reform Committee will line up Thursday to take their shots at Federal Reserve Chairman Ben Bernanke. To which Ron Paul and Jim Bunning might say: Where have you been? Paul and Bunning — viewed by their colleagues as among the most eccentric members of Congress — were anti-Fed before anti-Fed was cool. Paul, a Republican representative from Texas, has railed against the Federal Reserve for so long that his supporters sometimes chanted “End the Fed! End the Fed!” at rallies during his long-shot 2008 presidential run. Bunning, a Republican senator from Kentucky, hates the Fed so much that he compared it — unfavorably — with Venezuelan President Hugo Chavez when it bailed out the insurance giant American International Group last year. The two were outliers then, but they aren’t now. Republicans and Democrats alike have balked at President Barack Obama’s proposal to expand the Fed’s power to help prevent another financial crisis. And on Thursday, members of the House Oversight and Government Reform Committee — which has already served the Fed two subpoenas on the issue — will hammer Bernanke face to face for his role in aiding Bank of America’s takeover of Merrill Lynch, for which Bank of America received $20 billion in bailout funds. Paul says he’s happy to have his colleagues jump aboard his bandwagon. “I feel pretty good about it,” Paul told POLITICO. Paul doesn’t claim responsibility for the anti-Fed movement on the Hill. “I don’t think it’s me so much as the circumstances,” he said. And he readily admits that his real goal — abolishing the Fed altogether — still faces plenty of resistance. Continues: http://www.politico.com/news/stories...xzz0JUz76DTe&D

06-26-2009, 11:10 PM	#5
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: HR 1207 Cosponsor Dan Burton Questions Bernanke on the B.of A./Merrill Lynch Merg Bernanke Grilling May Weaken Case for Expanded Powers By Craig Torres and Scott Lanman June 26 (Bloomberg) -- Chairman Ben S. Bernanke’s grilling by legislators over Federal Reserve conduct in Bank of America Corp.’s takeover of Merrill Lynch & Co. may reduce the odds the central bank will win new powers in a regulatory overhaul. Bernanke failed to resolve some lawmakers’ questions on whether the Fed bullied executives and stepped over other regulators in the name of financial stability in a three-hour congressional hearing yesterday. Republicans asserted the Fed interfered with commercial decisions, and Democrats said it should have wrung more concessions in return for taxpayer aid. Continues: http://www.campaignforliberty.com/wire.php?view=6095

06-28-2009, 09:32 AM	#7
peaceandlove Avalon Senior Member Join Date: Sep 2008 Location: Turtle Island Posts: 2,776	Re: HR 1207 Cosponsor Dan Burton Questions Bernanke on the B.of A./Merrill Lynch Merg White House: Obama Has Confidence In Fed Chair Bernanke June 25, 2009: 03:54 PM ET WASHINGTON -(Dow Jones)- President Barack Obama has confidence in Federal Reserve Chairman Ben Bernanke and no concerns about the central bank's role in Bank of America's (BAC) merger with Merrill Lynch, the White House said Thursday. "He has confidence in the job that Chairman Bernanke has done and confidence in the role that the Fed will play going forward to ensure what's happened never happens again," White House spokesman Robert Gibbs said. GIBBS...WHAT A GOON! Obama, however, has dodged questions over Bernanke's future at the Fed. The chairman's term expires at the end of January, prompting speculation that he may be replaced. At a Congressional hearing Thursday, lawmakers vigorously grilled Bernanke on the Bank of America transaction and questioned whether the central bank should be given new powers under the administration's proposed reform of the regulatory system. Asked if the White House has any concern over the Bank of America matter, Gibbs said, "No." aka District of Columbia stamp!! SOURCE and COMMENTS: http://www.campaignforliberty.com/wire.php?view=6113 Last edited by peaceandlove; 06-28-2009 at 09:45 AM.