Bernanke on 60 Minutes - Page 3 - PeachParts Mercedes-Benz Forum

Honus · #31 03-19-2009, 11:16 AM

Quote:

Originally Posted by kerry

It's true about his openness and transparency.
I think the Federal Reserve should have done something because they were the ones giving AIG the bailout money as I understand it. If they're giving taxpayer money to a company that failed they certainly should be aware of the fact that it's a stupid policy to reward the people who caused it to fail with million dollar bonuses.

My guess, based on no expertise whatsoever, is that the Fed isn't worried about whether we should reward people who have done bad things. The Fed only cares about the effect its decisions will have on the economy. That's my story and I'm sticking to it.

Quote:

Even if they were under contractual obligations to pay those bonuses, it would have been better public policy to deny them and have the potential recipients sue them in court to get them rather than just hand them out. How many of those executives would have had the balls to go to court to try to get their bonuses?

That approach makes sense to me.

cmac2012 · #32 03-19-2009, 11:06 PM

Quote:

Originally Posted by Chas H

I mostly have it my way, thank you.
I fail to see how sloppy, or worse, dishonest journalism can be excused.

I have not excused it. In the case of RatherGate, that stain on the nation, Rather and that segment's producers were not excused, their careers took a pretty serious hit from it. People err. Happens all the time and will continue to happen.

The issue is what do they add to the equation compared to what they take away. I think 60 Minutes adds quite a lot. You wouldn't have to complain about such shows in N. Korea, Saudi Arabia, Iran, Sudan, Cuba, (where to stop?).

You didn't watch the piece I linked to. Your loss.

cmac2012 · #33 03-19-2009, 11:08 PM

Quote:

Originally Posted by kerry

I agree that there is no certainty that any given course of action will produce the desired result, so a good dose of skepticism is appropriate. On the other hand, we are a predatory species that looks for weakness and fear in our prey, so we're sensitive to the lack of confidence in a proposed solution. I thought Bernanke looked fearful at a time when he should have looked strong.

It's hard for me to imagine the enormous pressure Bernanke and Geithner are under. What a white knuckle poker game.

link · #34 03-20-2009, 12:21 PM

> I agree that there is no certainty that any given course of action will produce the desired result, so a good dose of skepticism is appropriate. On the other hand, we are a predatory species that looks for weakness and fear in our prey, so we're sensitive to the lack of confidence in a proposed solution. I thought Bernanke looked fearful at a time when he should have looked strong.

I understand that people look to leaders for strength. But his strength seems to be in his principles if not his stage presence. Plus if someone wants to look for weakness and fear, they will see it without regard to if it actually exists. Moreover, after the previous administration, I’d think most people have had their fill of watching government actors pretend bravery while being dishonest. That was the unswerving approach used by former president stupid, after all who has a legacy of playing to the predators. In turn that served primarily to create a vast damage and mistrust of the government.

I don’t trust anyone who did not show at least some reservation on a gamble of this scale. It would be a tragedy if appearing human was not suitable for government. The fraud of trying to be more than human is at the core of Nietzsche’s idea of the superman. When the government puts themselves in that role we end up where we are.