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Welcome to Bernanke Panky! We aim to track the every move of the man "market skeptics" love to hate, U.S. Federal Reserve Chairmen, Ben Bernanke! Check out BP features including forums, original articles and commentary, and resources to aid in understanding the Fed and it's impact on the economy. Tune in!
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Bernanke Bytes — On the Money!
- House Panel Sets Hearing on Systemic Risk "As Ben Bernanke delivered largely unsurprising remarks Tuesday suggesting that a formalized regulatory structure was needed to manage future potential failures of large investment banks, lawmakers in the House of Representatives said they would hold the first of a series of hearings on growing systemic risk in the nation’s financial markets." (07/08/2008 02:23 PM )
- Schumer: IndyMac’s Troubles Don’t Extend to Regional Banks "In the wake of the troubles now facing Indymac Bancorp Inc. (IMB: 0.4002, -43.63%), Senator Charles Schumer (D-NY) came out Tuesday suggesting that the bank’s troubles “were not replicated by other regional banks.”" (07/08/2008 02:21 PM )
- What if what they taught you is wrong? "In this Financial Times commentary, Wolfgang Münchau comes ever so close to asking what must be one of the most difficult of all questions for any practicing economist to ask, "What if what they taught you is wrong?" " (07/08/2008 02:18 PM )
- UAE & Other Gulf Countries Urged to Switch Currency Peg from the Dollar to a Basket That Includes Oil "The possibility that some Gulf states, particularly the UAE, might abandon their long-time pegs to the dollar is getting increasing attention (from Martin Feldstein and Brad Setser, for instance). It makes sense. The combination of high oil prices, rapid growth, a tightly fixed exchange rate, and the big depreciation of the dollar against other currencies (especially the euro, important for Gulf imports) was always going to be a recipe for strong money inflows and inflation in these countries." (07/08/2008 12:35 PM )
- Dizard: Don’t Worry About Iran, Worry About Central Bankers "Only the Financial Times' John Dizard would say straight out that monetary authorities (and diesel) constitute a bigger threat to our collective security than America's pet nemesis, Iran. I would not be surprised to find some readers in agreement." (07/08/2008 12:34 PM )
- Bernanke, Paulson, FDIC Eye Taxpayer Bailouts, More Power "The Fed with help from Congress and the Bush administration created this mess, and instead of getting rid of the Fed, proposals are flying from every corner for the above parities to give the Fed still more tools in which to wreak havoc." (07/08/2008 12:22 PM )
- Bernanke Says Fed May Extend Lending Access to 2009 "Federal Reserve Chairman en Bernanke said the Federal Reserve may extend Wall Street's access to lending until 2009." (07/08/2008 10:37 AM )
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Fed plans new rules to protect future homebuyers
The Federal Reserve, trying to stabilize a shaky U.S. financial system, may give squeezed Wall Street firms more time to tap the central bank's emergency loan program, chairman Ben Bernanke said Tuesday.
And, in an effort to prevent a repeat of the current mortgage mess, Bernanke said the Fed next week will issue new rules aimed at protecting future homebuyers from dubious lending practices.
(07/08/2008 10:36 AM )