Posted on 01/30/2008 6:35:39 PM PST by Kaslin
For those of us who ply our trade in the financial markets, we were given a now all-but-too-rare bit of comic relief two weeks ago during a House Committee on the Budget hearing with Federal Reserve Chairman Ben Bernanke.
In what has now become a YouTube favorite among those who find irony in the statement "I'm from the government and I'm here to help," Rep. Marcy Kaptur, D-Ohio, clearly confused the chairman with another seasoned financier, Treasury Secretary Henry Paulson, during a rambling question about community banks and the securitization of home loans.
Like a lot of things in life, the episode made us laugh not only because it was funny but because it revealed a tragic truth — insecurity is the canvas upon which modern American politicians can mix their primary colors: public fear and personal ambition.
That one moment exposed the hearings for what they were — political cover for what is shaping up to be to a grab bag of wasteful government spending and a forum to scapegoat Wall Street all in the name of protecting "working people."
In what must be considered a land speed record for any significant piece of tax legislation in the history of the republic, politicians from both sides of the aisle are desperately attempting to dispose of 12-figure levels of "stimulus" that would include, among other things, an extension of unemployment and food-stamp benefits and a tax rebate check from Uncle Sam.
Sadly, few policymakers would like to admit that no amount of government spending (or Fed easing for that matter) will address the root cause of the current economic slowdown — the unwinding of a housing bubble that started six years ago.
(Excerpt) Read more at ibdeditorials.com ...
LOL!
LMAO!!
Funny and scary. Vote Democrat: It’s easier than thinking.
I can see the BushDerangedDhimmj’d Congress letting the “Tax Cuts for the Rich” expire before realizing they’d fragged themselves and destroyed the “Democrat Party” and then seeing themselves ‘left’ with only the small percentage of “Democrat” ‘s I.D.’ing as ‘progressives”...
(progressing to the 19th century)... a’dios, Dhimm’s.
Allah AkhCon.
Some intern just got fired :-P.
That first comment after the video stung me a little.
My guess it’s the guy (whose top of the head is seen) hidden behind her chair.
Probably from OSU or MSU.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.