Max Keiser: The black hole of declining expectations - Video
What could have the Federal Reserve done to those bankers who triggered the Great Recession? Could it have let them down? No, says Fed ex-chief Ben Bernanke, as you can't put a financial firm in jail. It is the prerogative of the Department of Justice.
In their another attempt to fight (or better to say, criticize) the system which can hardly be won, Max Keiser and Stacy Herbert refer to fraud major market players commit. Having shifted the responsibility from the Fed to the Department of Justice, Bernanke refused to admit that the U.S. central bank could have made it not profitable for lenders to cheat - like increasing margin rates or interest rates on speculators. But that time, Bernanke was a part of that game.
In a very nervous passage, Max Keiser is putting the blame on both Bernanke and U.S. President Barack Obama who represent a deceitful and corrupt top, and traders gradually cease to trust them.
Bond traders around the world come to an awareness that central bankers fail to combat global economic woes. Their expectations for inflation are nearing the lows last seen during the financial crisis, despite the multiple rounds of QEs and rate cuts.
The hosts round up the economic troubles the developed countries have to withstand now and reflect on why they fail in their struggles and what really make them fail...
