{"id":13144,"date":"2015-10-08T06:49:55","date_gmt":"2015-10-08T11:49:55","guid":{"rendered":"http:\/\/olduvai.ca\/?p=13144"},"modified":"2015-10-08T06:49:55","modified_gmt":"2015-10-08T11:49:55","slug":"when-it-really-mattered-ben-bernanke-coddled-protected-bailed-out-financial-criminals","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=13144","title":{"rendered":"When it Really Mattered, Ben Bernanke Coddled, Protected &#038; Bailed Out Financial Criminals"},"content":{"rendered":"<header class=\"post-header \">\n<h3 class=\"post-title\"><a href=\"http:\/\/libertyblitzkrieg.com\/2015\/10\/07\/when-it-really-mattered-ben-bernanke-coddled-protected-bailed-out-financial-criminals\/\" target=\"_blank\">When it Really Mattered, Ben Bernanke Coddled, Protected &amp; Bailed Out Financial Criminals<\/a><\/h3>\n<div class=\"clearfix post-meta post-meta-top\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-27970\" src=\"http:\/\/libertyblitzkrieg.com\/wp-content\/uploads\/2015\/10\/Screen-Shot-2015-10-07-at-1.51.40-PM.jpg\" alt=\"Screen Shot 2015-10-07 at 1.51.40 PM\" width=\"285\" height=\"305\" \/><\/div>\n<\/header>\n<div class=\"post-content\">\n<p>Most of you will have seen\u00a0Ben Bernanke\u2019s recent crocodile tears regarding how he wished more individuals were held responsible, for you know, destroying the American middle class and handing over the nation\u00a0to a handful of criminal oligarchs.<\/p>\n<p>As David Dayen notes, he is completely full of shit. As usual.<\/p>\n<p>From\u00a0<a href=\"https:\/\/theintercept.com\/2015\/10\/06\/bernanke-talks-tough-but-was-weak-when-it-mattered\/\">the\u00a0<em>Intercept<\/em><\/a>:<\/p>\n<blockquote><p><em>Former Federal Reserve Chair Ben Bernanke joined practically everyone in America by saying in his new memoir,\u00a0The Courage to Act,\u00a0that more Wall Street executives should have gone to jail for criminal misconduct that led to the financial crisis.<\/em><\/p>\n<p><em>\u201cIt would have been my preference to have more investigation of individual action, since obviously everything what went wrong or was illegal was done by some individual, not by an abstract firm,\u201d he wrote.<\/em><\/p>\n<p><em><strong>Unlike practically everyone else in America, however, Bernanke was in a pretty good position to actually facilitate criminal misconduct proceedings, if he wanted to see them so badly<\/strong>\u00a0\u2014 as \u00a0head of the nation\u2019s most powerful bank supervisory agency from 2006 to 2014.<\/em><\/p>\n<p><em>The Fed, like all banking regulators, can initiate criminal referrals to the Justice Department for individuals they find to have broken the law. This acts as the first line of defense to discipline criminal misconduct on Wall Street.<\/em><\/p>\n<p><em>But such activities were absent during the period when Bernanke was chair, according to\u00a0<a href=\"http:\/\/billmoyers.com\/2013\/09\/17\/hundreds-of-wall-street-execs-went-to-prison-during-the-last-fraud-fueled-bank-crisis\/\">criminologist and law professor Bill Black<\/a>.\u00a0<strong>\u201cThe Federal Reserve appears to have made zero criminal referrals; it made three about discrimination,\u201d Black told Bill Moyers in 2013.<\/strong><\/em><\/p><\/blockquote>\n<p>This is just an excerpt, I suggest reading\u00a0<a href=\"https:\/\/theintercept.com\/2015\/10\/06\/bernanke-talks-tough-but-was-weak-when-it-mattered\/\">the entire article<\/a>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-27537\" src=\"http:\/\/libertyblitzkrieg.com\/wp-content\/uploads\/2015\/09\/Screen-Shot-2015-09-24-at-10.10.11-AM.jpg\" alt=\"Screen Shot 2015-09-24 at 10.10.11 AM\" width=\"325\" height=\"291\" \/><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>When it Really Mattered, Ben Bernanke Coddled, Protected &amp; Bailed Out Financial Criminals Most of you will have seen\u00a0Ben Bernanke\u2019s recent crocodile tears regarding how he wished more individuals were held responsible, for you know, destroying the American middle class and handing over the nation\u00a0to a handful of criminal oligarchs. As David Dayen notes, he [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2015,68,124,303,305,9697,4285,6174,599,860],"class_list":["post-13144","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bailout","tag-ben-bernanke","tag-central-banks","tag-fed","tag-federal-reserve","tag-financial-criminals","tag-liberty-blitzkrieg","tag-michael-krieger","tag-oligarchs","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13144","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13144"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13144\/revisions"}],"predecessor-version":[{"id":13145,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13144\/revisions\/13145"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}