Bernanke to brief Congress on the economy

This is just a market correction. Granted, the energy problem is real and will not go away but everything else is just a temporary flux.

Our economic problems aren't anywhere near the depression or stagflation eras.

We will just have to weather the storm the best we can. I know that is easier to say for some people than others but it is all we can do.

Letting our largest financial institutions fail or boycotting consumer goods is counter productive, people. You want to drive up unemployment even worse? You want to make it even harder for decent people to afford housing? You want to destroy hard working people's 401(k)s and other retirement investment savings? That is what doing these things will cause.

I know it's easy to feel bitter that the goverment is using our taxpayer money to bail out these "wall street fat cats" but I assure you that most of the employees that work in these institutions are not the fat cats with millions of dollars sitting around. Most of them are just hardworking grunts like you and I with families and mortgages.

This situation is by design and the designers make ignorant public statements so as to make people think they are uncapable of such a grand scheme as the one they have perpetuated on us. Follow the money and most everything we are up against is on the other side. We dont control the Federal Reserve, it controls us. We have been sold out yet will still have to pay the crooks because of the laws they make our elected officials pass.

Its time for Americans to get up off their a&* and tell these politicians to stop the BS and make something happen.... all they do is go in circles over and over... Regulate the gas prices pay the difference with the money they send over in aid to other countries and take the load off the American people then the economy will come back strong.... come on you have high gas prices it touches everything we do. FIX THE PRICE OR WE WILL FIND NEW PEOPLE WHO WILL.... Send the message Americans.... we don't have to take it.

My ex-brother-in-law and his wife ran a mortgage company. They were (and are) the two biggest crooks in the state. They both filed bankruptcy and lied like hell to the court and the FBI. And yet, they have never been indicted. Go figure....

Let's see, we lose our ass we pay. They lose their ass we pay. Seems to be pattern.....

We are paying for our complacency, ignorance and indifference during the 2000 and 2004 elections. For God's sake America, wake up and do something about it in November.

Hey Bernanke ...another corporate bail out? Where's mine!!!!!!!

Why is it when American workers are in trouble you blow it off but when you're a corporate Titanic and you failure is gigantic down in Congress there's a safety net for you? Just give me the deal you give Fanny and Freddy! Is this free market or what? Hey Bernanke why don't the CEOs take a pay cut? Now there's the biggest joke of the century!!!!!!!

To oldefart: Oh yeah, and wipe out the small business owners who are hurting like everyone else. That makes no sense. People work at grocery stores, clothing stores, hardware stores, etc. These people will be hurt by what you are suggesting.

I watched Bush's press conference. It is like Goebbels telling the German people
everything is not so bad in February, 1945.

Goebbels would've been proud of W's snowjob for the last 8 years.

I was working in a factory when Bush got in the first time and told my friend that we are in trouble. Tha factory closed last year and the country is a mess thanks to this dumb a!!hole. Do you think I was right?

These guys won't address the root cause. Loan originators have to carry some financial risk when they "sell" a loan. The idea of receiving a transaction fee and washing one's hands of all risk is what started this mess.

But, the credit "band-aid" is just a symptom of the collapse of the job market, going on since 2001. If you count new people entering the job market (200,000 / month, thanks to our corporate-driven immigration policy), the job market is falling behind by 300,000 jobs / month, or 3.6 million per year.

Yeah, job opportunity is shrinking dangerously. We're in a job/income panic.

I have one thing to say:
Fairtax.org - check it out please

Everything is not that bad. Just go to a junior college and take courses in floor sweeping 101 and 102 and you too may be able to work at Walmart and further the spiral of this infestation. After all that's McSame's answer to the problem! Of course when your wife makes $40,000,000.00 a year and you collect SS and disability I guess you don't have that much to worry about!!!! How can someone possibly be that greedy to collect SS and disability when your family income is almost 50 million a year?

Might as well kill ourselves!

I don't see any other solution!
Oh! Except not buying anything for two weeks!

God, you people are depressing.

Oh yeah, and talk about an overleveraged financial sector. The hedge funds are totally unregulated as far as leveraging, so it's typical to be leveraged at 15-20X. There is something like $50 Trillion in debt floating
on Wall St.

The bank collapses in 1929 led to rules about margin limits, which banks and mutual funds have to obey. So, the clever people go around these margin limits by getting into unregulated instruments, and the dumb as @!$%# people in Govt. let 'em do it because their "ideology" is against regulation. Now look at the mess we're in!!! And it's happened before. You can bet some people won fistfuls of money putting the others at peril. How is this any different from other forms of white collar crime? Answer: you elected a bunch of shysters in 2000 and again in 2004. They're letting their buddies rip you off.

I am completely comforted by the fact that Phil Gramm has informed me that all of these "economic difficulties" are in my mind. Just an illusion!!!! Yesterday, when I went to Walmart to buy food and noted that the milk had increased another .30/gallon in price, I merely told that it was all in my mind! I have also made sure I didn't whine about it! Now, if you will excuse me, I am having tea with the Easter Bunny, Tinker Bell and the Mad Hatter.

I guess inflation isn't very "benign" any more. All the lies and misrepresentations by Bernanke can't hide the fact that the cost of living is substantially higher this year than last. The CPI is meaningless - it's the cost of food and energy that are killing family budgets.

Thank goodness we've only got a few more months of the Bush Administration. Just hold your noses and pray.

Well, I see that the Brazilian economy is booming and expanding all over the place. Gee, you think it could have something to do with the fact that they became energy-independent from OPEC years ago and all their American-made cars are driving around on ethanol from sugar cane? What's that? No cash drain to OPEC? You mean all their energy spending stays in their own national economy? We wouldn't be so foolish to do something like that. In fact the environmental nazis just shut down sugar cane farms in Floridas everglades so we could return it all to the crocs and gators. So, now we can import all our sugar from latin-America in places like.......................................................Brazil.

Well, I see that the Brazilian economy is doing just fine, growing and expanding all over the place. Gee, do you think it could have something to do with the fact that Brazil has been energy-independent from OPEC for years while they drive their American made cars around on ethanol from sugar cane? What's that? No huge cash drain to OPEC and all their energy spending stays right in their own economy? Now we would never be so foolish to do something like that. In fact, the environmental lobby just shut down our own sugar cane farms in the Florida everglades so we could return them all to the crocs and gators. So, now we can import all of our sugar from latin-America in places like.........................................................................................................Brazil.

I personnally decided not to purchase a home, especially in light of the outrageous costs that developers and ordinary sellers were asking for properties. Many americans made the decision to give into these ridiculous prices, and millions more took advantage of home equity loans to finance even more inane purchases, such as SUVs, boats, vacations. As the consequence of their irresponsible behavior raises its ugly head to the surface, these same people are now screaming about how they were taken advantage of by banks, mortgage companies, developers, the list is endless and they are now asking the government and the rest of the american taxpayers to ignore their irresponsible behavior and pay for their poor choices. the fact is no bank, mortgage company, credit union forced anyone to take a loan. we are all adults and capable of making rational decisions, even though many choose not to. if you've made a bad choice, then the consequences of your behavior and choices are yours, not the rest of the taxpaying public who already carry a large enough tax burden without an additional increase for those folks not responsible enough to accept the fact that they made a bad choice. my sentiment is the same for those individuals who managed to sink themselves into enough credit card debt and other debt that they find it easier to file for bankruptcy rather than tough it out and pay off the debt. life is about learning to live below your means not above it and screaming for everyone else to pay your debt for you.

I remember Bernanke stating months ago that speedy and firm action must be taken regarding Bear Stearns before it affects the "real" world. That was quite telling. So the smoke and mirror scam of high finance is a sort of parallel world while we the proletariat live in the "real" realm. Let me be frightening frank. Sometime in the late 80s the moneyed class again became bored and looked for diversion. "Let's scoop in more money!" (the usual pasttime from a class lacking creative imagination for diversion). Let's tell homeowners they have a fantastic goldmine under their drywall perches and clean up when these naive but greedy real estate squatters fearlessly strip their new found magical equity! A giant hoax and con was perpetrated by the hollow class. It was a completely artifical means of "growing" the economy by an artifical water source. Get ready for the endgame. John Poole

Bears and Sterns, Fannie, Freddie. These monster institutions didn't all the sudden "hollow out" on stability. I think it needs to be determined when the failing policies were implemented and who was in charge. The leading executives of these institutions must have know one another and seem to have adopted a similar recklessness. How much did they increase their own compensation while they destroyed these major/important Icon's of America's financial strength? What will happen if it is found that the FDIC has been subject to the same disgraceful leadership?

And are things really as bad as some of you indicate? I'm over 60, retired, my wife of 55 works part time, because she wants to. I play golf every week, we are buying a custom built 2400 sq ft home. We have 2 cars, a 98 and 2004. We are flying to California twice a year to visit family. We are going to Hawaii and also Europe.

We are just regular people didn't make millions, but maybe we can do these things because we have a financial plan of our own. Sorry for all those who have nothing to do but complain about what they don't have. Each family needs to think about themselves and quit complaining about the government. And big business is not at fault. Please spend think time and study. Quit watching tv and the talk shows and you might find yourselves. It's up to you and no one else. Please learn that NOW if you haven't yet.