Americans Don't Have Jobs, Will Ben Keep His?

[notesdev]

You want to do something about jobs? Well, considering a different Fed Chairman might be a good place to start.

Nothing would more clearly display the inability of our leaders to deal with the disastrous state of our economy than easily reconfirming Ben Bernanke for another round at the Fed on the same day that they hold a "job summit" in a harebrained attempt to try to figure out how to create jobs in this country.

So far in his tenure, Chairman Bernanke has already told us that housing prices won't go down, the subprime market will be "contained", unemployment won't get to 10% and that instead of regulation, those responsible Wall Streeters who used credit derivative swaps could just be trusted to use them "properly". Of course, he thinks this performance should be rewarded with more power and utter secrecy.

...

The Federal Reserve and other government programs are literally pouring a potential $23.7 trillion of taxpayer money into bucket with a giant hole in the bottom and wondering why there are no jobs.

Would you work if you could steal money without consequences? Would you do the hard work of lending money to the small businesses of America if you could just make more gambling it in swap markets of New York and never have to worry about the losses?

This economic model is not geared towards jobs. This is not capitalism. This is not American. This is a crime.


...



http://www.huffingtonpost.com/dylan-ratigan/americans-dont-have-jobs_b_378237.html

[Triana]

1. According to EnPeeArrggh (ie: NPR) - yep, he gets to keep his. n/t