Daily Archives: April 10, 2008

Dick & Jane & Ben

“Hurry, hurry, hurry!” says Ben Barenaked (via The Washington Post):

Federal Reserve Chairman Ben Bernanke said Thursday that regulators must move ahead on ways to prevent a future financial crisis from occurring even as they battle one that threatens to plunge the country into recession.

“We do not have the luxury of waiting for markets to stabilize before we think about the future,” Bernanke said in a speech in Richmond.

“Run Dick! Run Jane! Don’t stop, Dick! Don’t stop, Jane! Hurry, hurry, hurry!” says Ben Barenaked!

Those recommendations were put forward after spreading problems in the housing and credit markets threatened to paralyze the entire financial system, which could devastate the national economy.

“Many of the necessary changes that have been identified, including increasing transparency, improving risk management and attaining better coordination among regulators could provide important support to the process of normalizing our financial markets,” Bernanke said.

He said the president advisory group’s recommendations, if implemented, would guard against future financial troubles.

“Quick, quick, quick!” Says Ben Bearnaked. “Get into my Special Speedy Drive Away from Danger Van! You’ll be safe in here Dick! You’ll be safe in here Jane!”

Bernanke, in his speech, didn’t discuss the changes to the Fed’s role under this proposal. However, the Fed chief has said in the past that it is important for the Fed to retain oversight of banks.

“Don’t wait, Dick! Don’t wait Jane! Hurry, hurry, hurry or it will be too late!”

Wanted for questioning in connection with the dissapearance of two children, their dog & 100 bajillion dollars: Ben Wayne Bearnaked.


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Filed under Economy, Fail Watch, Misguided Self-justification