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Honestly, Citadel is getting exactly what they deserve: Ben Bernanke missed the biggest economic event in three generations, despite having all the resources o
by jpmattia 12y ago
Honestly, Citadel is getting exactly what they deserve: Ben Bernanke missed the biggest economic event in three generations, despite having all the resources of the Federal Reserve. If they think they're tapping into his rolodex, do they think that everyone at the SEC or Fed has somehow missed this point?
And the funny part is that he's probably being paid handsomely for that talent.
- dageshi 12y agoRealistically that was Greenspan, Bernanke was in the fed chairman role for less than two years before SHTF. Greenspan exited at the very height of the bubble just as things were starting to roll over. By the time he was Chairman there was pretty much bugger all he could have done to stop things falling apart, you don't build up a system so chronically imbalanced like that and have it unwind safely.
- jpmattia 12y agoWhile Greenspan certainly did his part to inflate the housing bubble, he had little to do with the incredible slowness that Bernanke had recognizing the problem. For example: Bernanke: There's No Housing Bubble to Go Bust (2005) http://www.washingtonpost.com/wp-dyn/content/article/2005/10/26/AR2005102602255.html http://www.washingtonpost.com/wp-dyn/content/article/2005/10... (2007 Testimony) "At this juncture, however, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained." http://www.federalreserve.gov/newsevents/testimony/bernanke20070328a.htm http://www.federalreserve.gov/newsevents/testimony/bernanke2...