As of noon on Day 1, the Financial Crisis Inquiry Commission is not playing hard ball with the CEOs of the largest financial institutions in the world. The commissioners have a golden moment to puncture the myths that justify Wall Street’s enormous grab of America’s wealth. more »
In the first skirmish of the Financial Crisis Inquiry Commission, Chairman Phil Angelides attempted to nail Lloyd Blankfein, Goldman Sachs CEO with a left hook: "Would your institution have gone under were it not for the bailouts?" Blankfein successfully parried the punches by saying no one knows...that they were doing the best they could...better than most. . more »
Every once in a long while a commission can change America. The 1954 Army-McCarthy hearings destroyed Senator Joe McCarthy by revealing his out-right viciousness and insincerity through the new media of television. The Watergate hearings helped to bring down a president. more »
Time Magazine's naming Ben Bernanke "Man of the Year" is a little bit like celebrating an arsonist for his heroics in putting out a fire that he set. Bernanke has done creative and bold work in staving off a fianancial free fall. But he would also be on any list of the 10 people most responsible for creating the free fall. more »
Federal Reserve Chairman Ben Bernanke employed his characteristic smoothness and conciliatory nature as he navigated the questioning at today's confirmation hearing before the Senate Banking Committee, helped by the largely gentle questioning by Democrats on the committee. more »
Senator Bernie Sanders has announced he will put a hold on the Bernanke nomination. Sanders wants the Finance Committee to hold serious hearings probing Bernanke's actions leading up to the financial collapse, and the emergency measures he took, committing literally trillions to bolster private financial institutions without a vote of Congress. more »
In this video, Robert Borosage lists the questions that members of the Senate must get answers from Ben Bernanke on if he is to earn re-appointment to chair the Federal Reserve. A related action campaign emailed to Campaign for America's Future supporters calls on them to tell their senators: "Before You Appoint Ben, Audit Ben."
Robert Borosage of the Institute for America's Future addresses the key questions members of the Senate must ask Federal Reserve chairman Ben Bernanke when he appears before the Senate Banking Committee beginning December 3. more »
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Thursday December 3 is the date of both the President’s Jobs Summit and the reconfirmation hearing of Federal Reserve Chairman, Ben Bernanke. We should seize the opportunity to examine the statute that creates the Federal Reserve: more »