"The response to the gravest financial crisis in generations has been engineered to a remarkable degree by a committee of three [Bernanke, Paulson and Geithner]." --Washington Post
Lawmakers shut out of the decision-making process express concerns about the unaccountable power of 'the $800 billion man [Bernanke].
“He can make any loan he wants under any terms to any entity or individual in America that he thinks is economically justified,” said Representative Barney Frank, Democrat of Massachusetts and chairman of the House Financial Services Committee.
“I asked the chairman if he had $85 billion to bestow in this way. He said ‘I have $800 billion.’ ”
“No one in a democracy unelected should have $800 billion to dispense as he sees fit,” Mr. Frank said.
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Did you see Paulson on Meet The Press today?
Like Vladimir Putin, the Russian Prime Minister, commented today, "The whole world economy cannot depend on one money-printing machine."
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