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Questions for Ben Bernanke

Ben Bernanke will testify before the Joint Economic Committee today and there’s plenty to talk about.

It’s hard to predict the major strategic direction of any hearing, because this depends so much on what committee members decide to pursue, initial reactions by the witness, and – most importantly – the way follow up questions are structured.

There are three main lines of questioning that can be pursued:

First, Bernanke can be pushed on his economic forecast.

The committee may look for daylight between his view and that of Christina Romer, who testified last week.

Second, Bernanke could be asked to expand on his view regarding “downside risks.”

Third, Bernanke may be put on the spot with regard to bank stress tests – the full results of which are due out later this week.

And there is the issue of safeguards to prevent fraud.

See the next blog item to take the poll and vote on the question you'd like to see Bernanke answer.

--Simon Johnson

By Sara Goo  |  May 5, 2009; 6:02 AM ET
Categories:  Banking  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati   Google Buzz   Previous: Bank Stress Tests: The Treasury's Conundrum
Next: The Hearing Poll: Vote on Which Question Bernanke Should Answer


Lets have our congress people make it possible for Ben to answer some mnore questions.

The Federal Reserve enjoys a monopoly over the flow of our money and credit but has never been completely transparent and accountable to Congress. Since its establishment in 1913 our dollar has lost more than 95 percent of its purchasing power.
In addition to more than $11 trillion national debt (over $36,000 per citizen), Congress, the Treasury, and the Federal Reserve have put us on the hook for almost $10 trillion in bailouts and loans. Yet, the Fed refuses to tell Congress which financial institutions have received these funds.
U.S. Rep. Ron Paul of Texas introduced HR 1207, which would deliver answers to the American people about how our money is being used. HR 1207, which is currently in the House Financial Services Committee, received the support of over 110 other representatives since its introduction and will amend section 714 of Title 31 of the U.S. Code to remove the restrictions on how the Government Accountability Office can audit the Federal Reserve.

Posted by: AtlasShrugged1 | May 5, 2009 10:01 AM | Report abuse

Three questions...

1. Did you see the excesses in subprime lending during the housing boom?

2. Why are you subsidizing lending to banks, and mortgages on the backs of savers? - Have you looked at what a CD/savings account yields recently?

3. What do you tell people on fixed income who see their property taxes go up but not the interest rates on their savings and bonds as a result of your mistakes and role in the housing mess and clean-up efforts?

Posted by: free_np | May 5, 2009 12:17 PM | Report abuse

It would have been laughable if it weren't so serious when asked;
to implement rules and restrictions by banks NOW to help protect credit card abuses on consumers and he said NO....blah, blah blah. He's as bad as the slimey Wall Street greedy crooks. Thanks for nothing, keep kissing the rings...we see right through you. Pathetic, greed enableing at its worst.

Posted by: mackie123 | May 7, 2009 12:09 AM | Report abuse

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