Tuesday, March 27, 2012

Bernankeganda 3.0: Fed Heeded Lessons from Great Depression to Prevent Financial Collapse in '08

Highlights of the Bernank's 3rd lecture in his propaganda tour today, titled The Federal Reserve's Response to the Financial Crisis:
  • Bernanke blames the housing collapse on sub-prime borrowers taking out 'liars loans'
  • Insurance offered by the likes of AIG amplified the risks of these evil borrowers
  • Heeding lessons from the Great Depression, the Fed took vigorous actions to stem the financial panic and support key financial institutions (Goldman and JPMorgan)
For those who missed the Chairman of Propaganda's live lecture, full lecture video and powerpoint slides are available below.  Please check your brain at the door.

(Video posting has been delayed by the FOMC.  We will provide the footage as soon as it is posted by the Fed)

Full Propaganda Powerpoint here from the FOMC