Imprison Ben Bernanke for Treason

I'm shocked, shocked to find that gambling is going on here!

Seriously, Ben Bernanke is saying that there is no need for a Consumer Financial Product Agency, because the Federal Reserve can handle this job.

He is referring to the same Federal Reserve that was run by Alan Greenspan for over 20 years and was an enthusiastic cheerleader of the toxic financial products.

The same secretive and opaque agency that revels in its lack of response to the public's perceived needs.

The same one that was run by a man, who said, "Wasn't a need for a law against fraud because if a floor broker was committing fraud, the customer would figure it out and stop doing business with him," for over 20 years.

That Federal Reserve? The one whose New York bank, which is charged with regulating Wall Street, leaves seats on its banks allocated to consumer advocates empty?

You are suggesting that an organization that aided the elevation Alan "Bubbles" Greenspan, a man who basically got his PhD from the back of a cereal box, to a position the preeminent economic guru of the United States of America be allowed to be in charge of protecting consumers?

I's just time to cue Captain Renault. (Top Pic)

What's more the, as Elizabeth Warren, the woman who chairs the oversight committee being stonewalled by the US Department of the Treasury on TARP oversight notes, the arguments against a dedicated consumer protection agency are 3 parts outright lies, and 4 parts intentional stupidity.

Put the Federal Reserve in charge of consumer protection? Goldman F$#@ing Sachs would do a more honest and competent job of that.