Submitted by Tyler Durden on 03/27/2012 - 15:30 AIG American International Group Ben Bernanke Central Banks Fail
While the previous two lectures have had a clear message - Central Banks good, Gold Standard bad, Stability Only Through Central Planning - today's lecture, while unequivocally net positive for the staggering power of the Fed to do what it wants, was less focused. With only one use of the words 'CDO' and 'Save'-the-world, Bernanke focused on the threat of Depression (14 times) and the world-ending 'M.A.D.-bringing' event that would have been the end of AIG (29 times!). With the word mortgage dominant (75 times) and 'Fail' bandied around 33 times, it is clear where Bernanke sees the blame and how the saving of AIG truly was a Flash Gordon moment. Nowhere is this bias better indicated than the 9 uses of the 'People' compared to the 104 uses of the word 'Bank' and should you feel that this was a 'save' by the Fed, the word 'Rescue' does not appear once during the 11,431 word diatribe.
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http://www.zerohedge.com/news/bernanke-lecture-iii-decrypted-depression-14-aig-29-fail-33-rescue-0
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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