Ben Bernanke testified before the Congressional Joint Economic Committee on October 4, 2011.
Points made in this video:
- The economic recovery is close to faltering
- The middle class is collapsing
- Class warfare – the rich control too much of the country’s wealth
- Banks may need to be broken up
(Don’t tell Congress that the Federal Reserve is the largest private bank) - No more banking bailouts
- The European Union may face a bank run and how the Federal Reserve will act if this happens
httpv://www.youtube.com/watch?v=nPr52fomzME
The tone set during the hearing was somber as many Democrat Congressmen laid blame on banks and the rich for our economic collapse.
David DeGerolamo
