Shame on You, Ben Bernanke…


Federal Reserve Chairman, Ben Bernanke

For the first time in 25 years, our Fed Chairman will not be attending the Financial Conference in Jackson Hole, Wyoming. This conference is designed to allow the brightest financial minds an opportunity to brainstorm, share ideas and ultimately find solutions to today’s most troubling or difficult financial problems. Ben Bernanke has already announced that he will not be attending because of a “personal scheduling conflict”. That is ABSURD! You are serving your country in the most important financial role that exists on the planet. You knew what you were signing up for and you owe it to the American people to do the best possible job you can, which includes going to Jackson Hole every year to determine best practices for the Country’s Financial well-being!

Even if he plans to step down this January, he is still our guy right now and we need him to be 100% involved and present. I have openly been a critic of Bernanke, but for the most part, he has done a decent job keeping things stable in a tough time. That said, this particular situation is unacceptable. He needs to be there. We need him there. If we are going to have a “snowball’s chance in hell” of over-coming this financial debacle, it will require the Fed Chairman to be heavily involved. Read the full story here.

Other topics discussed on today’s show:
– Have homebuyers in San Diego gone too far? Where do you draw the line when buying real estate in San Diego?
– Goldman Sachs exits their “Short Gold” trade after only two weeks vs. the two years they originally stated
– Apple has a good quarter, making over $46 Billion, but investors still don’t like it and they’re right

Today’s On-Air Expert:
Jon Jerotz or “JJ” as I call him, VP of Mortgage Lending for Guaranteed Rate and San Diego Mortgage Expert

Listen to today’s show here:

Categories: Buying Real Estate, Credit Repair, Credit Score Secrets, Mortgages, Radio Shows, San Diego Real Estate Market

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2 replies

  1. Bernanke doesn’t work for the American people, he works for Goldman Sachs and Citigroup. The Federal Reserve is not Federal, is not an agency, he was not elected by the people, and he owes us nothing. The worlds “brightest minds” are trying to figure out how to make themselves rich on our backs. Just FYI.

  2. Brett, thanks for pointing that out. It’s true, the Federal Reserve is neither. It’s not Federal and there is no Reserve. Yet, for some reason every year, they ship all their profits to the United States Treasury. The Federal Reserve was created by the Government to help control inflation and be a lender of last resort in case there was a “run on the banks”. It was smart to make it Private, so there were no elections involved and therefore less politics involved. I still believe, no matter what they say, that it’s a federal entity and the people serving there are serving the people of the United States. I mean, how can an entity that’s responsible for ALL commercial banking regulation AND monetary policy for the Country not be expected to serve it’s people? Read more about how/when/why the Federal Reserve was established here:

    I appreciate your input and your opinion.

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