The following introductory clip by the American News Project summarizes the current push of a rare bipartisan movement in Congress, initiated by Ron Paul’s HR 1207 bill, that demands that the Fed, long considered beyond the reach of lawmakers, be held accountable and be more transparent on how it secretly doled out more than a trillion dollars during the financial crisis.
The clip also highlights the fact that Jamie Dimon, CEO of JP Morgan had to buy Bear Stearns to save his company from sinking and for that he received $30 billion in guarantees from the Fed while Dimon also sat on the board of the New York Fed of which Treasury Secretary Geithner was the head.
Read the article: “Ron Paul vs. Bernanke.”
It is well documented, funny, illustrated with nice pictures and video and relevant quotes:
“I will argue here that, to the contrary, there is much that the Bank of Japan, in cooperation with other government agencies, could do to help promote economic recovery in Japan. Most of my arguments will not be new to the policy board and staff of the BOJ, which of course has discussed these questions extensively.
However, their responses, when not confused or inconsistent, have generally relied on various technical or legal objections—- objections which, I will argue, could be overcome if the will to do so existed.”
Prof. Benjamin Shalom Bernanke
Japanese Monetary Policy: A Case of Self-Induced Paralysis?
For presentation at the ASSA meetings, Boston MA,
January 9, 2000.
Plea for a New World Economic Order.
Hi,
Isabelle here form OpenCongress.org. I just wanted to write quickly and let you know that your recent blog post on H.R.1207 got picked up by our blog aggregator and is now posted in our list of articles on that bill. Now people looking for information on the bill can find your article through its bill page on OpenCongress. Check it out here:
http://www.opencongress.org/bill/111-h1207/blogs
Since you’re writing about bills in Congress on your blog, I encourage you to check out OpenCongress as a research tool and a source for finding out what’s hot in Congress. One of our main functions that you ca see off the homepage is to provide context to bills, showing which ones are being viewed by people the most, which are being blogged about the most, and which are in the news the most. You can also follow the OpenCongress Blog for updates on stuff that’s moving in Congress.
http://www.opencongress.org/blog
Best,
-Isabelle