so he says that the fed boss ben bernanke he is the most dangerous human on earth far more dangerous than hosley mubarak egypt's thirty year dictator ever was bernanke he rules a monetary dictatorship that will trigger the coming third meltdown of the twenty first century right you know a year ago or so paul be feral over there at market watch dow jones might have been accused of sedition but because the global insurrection against banker occupation is gathering storm gathering force all over the world the forces that are in power now can't stop it the momentum is too high so we're seeing in egypt are saying to me as if we're seeing riots all over the world in america it's coming it's coming soon and it's time for a regime change and he's right to target the federal reserve bank because obama let's face it obama is just a sideshow the real power is ben bernanke in the federal reserve bank that's where the regime change needs to take place and ben bernanke is the figurehead for a collection of private banks and a few corporations like chevron who own the fed and they are the ones that

well the majority report finds fault with too fed chairman alan greenspan and ben bernanke. in particular it criticizes mr greenspan for advocating deregulation and cites a pivotal failure to stem the flow of toxic mortgages under his leadership as a prime example of negligence so we can now say you know alan greenspan is always on the news lately he's always appearing in the mainstream media in america telling americans like basically white washing his own record and saying. he's somehow considered still an expert on how to run an economy and his opinion is sought so now we must say that they must fully disclose and reveal that this man has been found guilty of negligence and incompetence needs a warning label like cigarettes you know cigarettes and says cigarettes can cause cancer then you know pictures of people rotting lungs whenever greenspan appears on t.v. need this claim or this man is a terrorist whatever he says alive pathological liar so is jamie dimon jamie jamie diamond j.p. morgan all the act with which they made during the crisis there there is possible for te

. >> tom: still, ben bernanke tells lawmakers high unemployment and low inflation are a recipe for continued support from the federal reserve. you're watching "nightly business report" for wednesday, february 9. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible byontributions to your pbs station from viewers like you. captioning sponsored by wpbt >> susie: good evening everyone. ben bernanke said today the federal reserve won't change its plans to fix the economy, because unemployment is still too high and inflation too low. but tom, many economists and investors are puzzled. should they be happy about prospects for a stronger economy or worried about signals of higher inflation? >> tom: susie, lawmakers on capitol hill had some strong opinions on this and grilled the fed chief when he testified. some pointed to signs of rising prices around the world and questioned bernanke about being too slow to combat inflation. as darren gersh reports, bernanke was doing his best to reassure lawmakers, and eve

also tomorrow, ben bernanke meets the press. the federal reserve chairman discusses the economic outlook at the national press club. standard & poor's cut ireland's credit rating by one notch to "a minus" today. that's four levels above non- investment grade. it gives ireland the same rating as portugal, turkey and cyprus. s&p says a further downgrade is possible as the irish government struggles to contain bank bailout costs. the downgrade comes as ireland prepares for elections in which the cost of bailing out banks is a major issue. >> tom: h.p. will give a refund

>> susie: ben bernanke tells lawmakers the federal reserve learned many lessons from the financial crisis, especially when it comes to banks. >> the importance of being very aggressive and... and not being willing to allow banks, you know, too much leeway. >> susie: bernanke and other financial regulators update senators on how fixing the worst economic mess in decades is going. you're watching "nightly business report" for thursday, february 17. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> susie: good evening, everyone. my colleague tom hudson is off tonight. what kind of shape is the u.s. financial system in these days, and do you feel financially safe? that was the question lawmakers on capitol hill were trying to get answered today. it's been six months since congress passed the biggest overhaul of the nation's financial rules, the dodd-frank reforms. the senate banking committee calle

mighty dollar managed by the almighty ben bernanke so yesterday the i.m.f. issued a report considering special drawing rights or s.t.r. as a possible replacement for the dollar which could help stabilize the global financial system according to that so what do we say could that idea actually work when joining me from our studio in new york is joe weisenthal deputy editor of the business insider joe thanks so much for joining us now let's start with what an s.d.r. even is i'm sure that i could give a really poor explanation here but i'm going to let you have a go ahead and let you give your very educated one. i mean it's really not very complicated basically it represents a basket of currencies from all of the earth from various i.m.f. members so if you had an s.d.r. special drawing right that would entitle you to x. amount of dollars in x. amount of your certain chinese do a and b. and stuff like that i think it's not really an accurate characterization and to call it a currency it's not you know it's it gives you right to a currency there's a right to money

federal reserve chairman ben bernanke said the central bank has learned a critical lesson from the financial crisis. >> the importance of being very aggressive and not being willing to allow banks too much leeway, particularly when they are inadequate in areas like risk management, which turned out to be such an important problem during the crisis. >> reporter: bernanke said the fed is also now measuring and testing bank portfolios across the industry. if that sounds familiar, it should. >> our experience in 2009 with the supervisory capital assessment program, popularly known as the bank stress tests, demonstrated the feasibility and benefits of employing such a perspective. >> reporter: but imposing new rules is expensive, forcing cutbacks in hiring, travel, and spending on computer systems. if congress doesn't let her hire more people, s.e.c. chairman mary schapiro says she won't be able to enforce the rules required by the dodd-frank reform law. >> we don't have the capacity now to take on the examination of hedge funds, for example. >> reporter: republican senators are concerned regulat

manufacturing of consensus that only we only the fed dictator as we pointed out last week only ben bernanke he only hank paulson only timothy geithner these are the men who can protect you from chaos and the disaster we ourselves have created and one of the use to protect you with the dollar it's a it's a cult worshipping the dollar as if the dollar was somehow more valuable than gold or silver that's a cult i mean this guy is like that help common cold guy who got everybody to get into a knapsack and drink the whatever from all the higher kool-aid and blow out to a common orbiting he's a psychopath but you can see across the board that most human beings most citizens who watch the news that listen to their leaders believe that only the dollar is good and strong and you see that we've covered this before we've looked at comments in progressive blogs for example who like mock and laugh at people who talk about the goaltenders anything to protect you. oh my me have you just been reincarnated as a flea or something that should not be allowed to be reincarnated that's just love my first coma is

fed chief ben bernanke he expressed his concern over or new threat to the global economy and financial stability while he was speaking in paris to bank of france conference it's all the head of the meeting of g twenty finance ministers and the chairman said that the uneven flow of funds into the u.s. from two thousand and three to two thousand and seven was one of the key factors to let that lead to the financial meltdown in two thousand and eight he also warned that capital flows are now once again posing some notable challenges but while defending his own at q e two policy that injected six hundred billion dollars into markets he said the countries with excessive and unsustainable trade surpluses will need to allow their exchange rates to better reflect market fundamentals now without specifically naming china i think it's still pretty clear who he was referring to but if the finger pointing continues for who the greater currency manipulator is is there a real chance for any solution to be agreed upon joining me from our studio in new york to discuss it is r t s financial corresponde

ben bernanke made a strong oral statement about that 60 minutes ago. it was as clear as you could be about his intentions. there was some skepticism until we proved it was not proper right now but the federal reserve in a timely way to head off inflation and consequences of a very big supply of liquidity. they understand the problem and i believe they will respond at an early date so you don't get the kind of market reaction. >> the critical question, i don't believe they have a coherent plan for doing what they say they are going to do. they have a model which i believe has serious flaws. the hard question is how high the interest rate is going to go or a trillion or more excess reserves from being used. how rate is going to go. if you do it without a moderate interest-rate, it will still be for. if you go to rates that will be seven, 8 or 9%, that will be a different thing for unemployment has high as it is. not just congress and administration but the business community and related unions or the general public. that will be the real test of whether

>> reporter: dave, it is ben bernanke's first appearance before congress since republicans took control of the house. let's get right to a live look at the house budget committee. chairman bernanke just began his opening statement. he just said that it does appear that a self-sustaining economic recovery in the u.s. is taking hold. but gop lawmakers have been vocally critical with his approach to the economy. here's how the chairman of the committee opened the hearing a few moments ago. >> this country continues to sufficient from slow growth and unemployment is still very high. washington is creating much of this uncertainty. >> reporter: would now, we do -- now, we do expect that lawmakers will be pressing bernanke on how he thinks the government should reduce the record federal deficit. we'll have more live coverage in my update next hour. back to you. >> thank you. >>> 7:15. a top u.s. commander is warning of more bloodshed to come in afghanistan. general david petraeus says combat will likely increase during the spring as taliban insurgents try to return to areas recently cleared b

ben bernanke said that high unemployment may persist for years. >>> rumors are flying tonight that nokia may set up shop in the bay area as part of a larger effort to revamp its product line is in an alliance with microsoft to build a handheld device that competes with apple and google smartphone. >>> a south bay man will learn tomorrow if he will face felony charges for beating a police that he says molested him. lynch is accused of beating father jerry lindner. today the judge turned down a defense request to have the priest take the witness stand. >> ironically enough we have been not willing to step into court to testify and once again the authorities have protected him. >> his supporters rallied outside the courthouse. >>> a teenager held captive by her claim against child protective services. >> we are very disappointed in the very agency that was there to protect him failed him. >> the young man is now 18 years old and lived with his aunts and uncles. he escaped his of users in 2008. his legal guardian and three others have been convicted of abuse and the claim seeks unspecified d

fed chairman ben bernanke told congress it would take up to five years for the rate to return to normal. >>> a republican congressman from new york abruptly resigned saying he made profound mistakes that hurt his family. that was after a website posted him in a photo shirtless. he said the photo was september -- sent to a woman he met on craigslist. he told the woman he is divorced, but he's not. he's married with a young son. >>> people on both sides of a water safety debate are packing a meeting today in half-moon bay. they will argue the pros and cons of jet skis at mavericks where the big surfing event takes place every year. many surfers argue jet skis save lives and point to many jet ski rescues, including one at mavericks just last month. critics say the jet skis are noisy and scare off wildlife. >>> coming up on ktvu channel news at 5:00, the u.s. ambassador to the united nations is in the bay area today. her mission, shedding light on our twitter and other social media play a role in government. >>> those stories and more coming up in our next newscast at 5:00. thanks for watch

. >> reporter: pam, it is ben bernanke's first appearance before congress since republicans took controlf the house. gop lawmakers have been vocally critical of his approach to the economy. they're expected to grill him about it this morning for his part he's expected to say while the economy is growing it will be several years before the unemployment rate returns to a more normal level. new this hour we just heard from treasury secretary who gave an optimistic view of the economic recovery. >> we've been growing up for a year and a half. the private sector created more than a million jobs. thing are gradually improving. if you talk to businesses across the country you would talk to private economists and private forecasters, they think the u.s. economy's now going to grow between 3% and 4% over the next two years. >> reporter: we expect lawmakers will press him on how he thinks the government should reduce the federal deficit. live coverage for you during my next update in an hour. for now live in washington d.c., allison burns, ktvu news. >>> oakland mayor voluntarily giving back 25% o

fed chair ben bernanke said the central bank expects the economy to improve this year countering speculationthat inflation fears might put an end to its $600 billion bond buying program. news that chain store sales grew twice what was expected in january drove costco, nordstrom and game four times higher. that supports predictions that today's big will show employees added nearly 150,000 jobs. bj wholesale club weaker than expected earnings. viacom also came up short thanks to disappointing dvd sales at paramount. jp morgan chaegs is denying accusations from the trustee in chargeç of recovering losses f bernard may dofl's victims. according to unsealed court documents jp morgan allegedly suspected madoff of running a pons yes scheme and looked the other way as the bank continued rake in profits off the suspicious accounts. >>> the treasury department says some 20% of federal tax credits meant to make electric and alternative vehicles less expensive were approved for purchases that were not manager-efficient, including claims for a hummer and a bicycle. we knew this was coming. despite assur

meanwhile, comments tuesday from ben bernanke will be listened to keenly for clues about when and ife fed's quantitative easing program will end. >>> traders may get a boost from confident comments from warren buffett this weekend saying he is bullish on the economy and that berkshire hathaway will engage many reported capital spending this year. today new restrictions on short selling go into effect with a so-called circuit breaker kicking in after a 10% price decline from the previous day's close. >>> elsewhere, the new york "post" reported toys "r" us is looking to raise around $800 million in an april ipo. >>> and finally, is cell phone etiquette an oxymoron? three-quarters of americans say cell phone manners have gotten worse over the past year. the most annoying, talking while driving, followed by talking loudly in public. one in five check their cell phone before getting out of bed every morning. i am definitely guilty of that. >>> the suns burn the pacers. college basketball almost has a cheerleader gate, and baseball says good-bye to the duke. plus, could the new star duo of

federal reserve chairman ben bernanke has stressed the need for additional monetary easing as a full recovery in the job market will take years. bernanke told the house budget committee on wednesday that a recent drop in the jobless rate to 9% is encouraging. >> notable declines in the unemployment rate in december and january, together with improvement in indicators of job openings and firms' hiring plans do provide some grounds for optimism on the employment front. >> but he was cautious about the employment outlook, saying that hiring will not fully recover for several years. republican lawmakers criticized the fed's additional credit easing, saying it's causing some commodity prices to soar. but bernanke said overall inflation is quite low and defended the fed's policy as a way to prop up the economy and stabilize prices. meanwhile, bernanke agreed with republicans on the urgency of curbing the ballooning fiscal deficit, which he said isn't suitable. >>> a bean sprout grower has launched efforts to make due of economic toughs with what is immediately at hand. >> reporter: the jap

drop in initial weekly jobless claims did little to improve the mood yesterday after fed chief ben bernankepainted a bleak outlook for unemployment on wednesday. web stream leader acami technology weighed down the s&p after the company said competitors are force it to offer lower prices. whole foods, however, isn't having any trouble with its pricing. the upscale grocery chain shot up 12% thanks to a 79% spike in first quarter income. sprint nextel also got a boost from its earnings and an impressive uptick in subscribers after a four-year drought. after the bell kraft shares said it would be forced to pass on the climbing price of commodities to consumers. pepsi co also cited the soaring cost of supplies. >>> private equity backed pipeline company kinder morgan raked in its initial public offering making it the first ipo -- kinder will begin trading on the new york stock exchange today. finally, spending estimates for valentine's day are up 13%, meaning americans are expected to shell out an average of $116 apiece. maybe money can really buy you love after all. >>> coming up, a hole in one

fed chair ben bernanke warned the newly gop led house budget committee that massive spending cuts couldave dire consequences if the u.s. defaults on its debt. bernanke waved off inflation fears and said expect high unemployment for several years. >>> meanwhile, dwindling supplies could have affects for months. case in point, after releasing earnings that beat the street, coca-cola said its products will cost more this year. whole foods continues to buck the belt tightening trend. after the bell it raised its profit outlook thanks to rising sales from its wealthier customers. >>> the new york stock exchange is near a deal to be acquired by germany's deutsch bors. according to cnbc if the deal is approved the famed nyse name will stay the same. >> hewlett-packard unveiled its new touch pad tablet yesterday, hoping to give apple's ipad a run for its money. pack light if you're flying. u.s. airways this valentine's day weekend, the airline just upped the price of overweight luggage to 90 bucks. >>> and looks like all those offers for future super bowl tickets, didn't help. the first of at l

ben bernanke has warned congress in a hearing that cuts could hurt what is a rickety recovery.an sachs in an analysis released last week said that even if the proposed cuts are reduced to a 25 billion for the first year and 50 billion for the next year, that it would still create a 1% cut in economic growth of the gdp. >> lawrence, there's a stop gap measure that will head off a shutdown. the president has to engage on the fact that republicans and democrats are far apart on cuts that republicans want. >> looks like they will avoid this friday shutdown and have a two week extension. they agreed to that by john boehner taking the cuts that the president identified in the future and said let's start doing them now. that's the cut package that they will include in their ongoing resolution. the problem with this dialogue it all begins after our failure on recognizing what the top tax rate burdens should really be. and keeping them down has created this much more serious deficit situation going forward. we've been ignoring for years the reality of what has happened in the super rich

. >> federal reserve chairman ben bernanke says the economy should grow rapidly this year. but that it will likely take several years before the unemployment rate falls to normal levels. he was at the national press club in washington for one hour. >> good afternoon and welcome to the national press club. i am president of the national press club. we are the world's leading professional organization for journalists and we are committed to our professions future for our programming and by foster in a free press worldwide. for more information, please visit our website at www.press.org. for all of our members worldwide, i would like to welcome our special speaker today and all those attending the event which includes guests of our speakers as well as working journalists. would like to welcome cspan and public radio. you can follow the conversation on twitter with the hashtag ncpluch. we will have audience questions as much as possible and would like to introduce our guest. we begin with keith epstein. scott sporey , rick dunham, donna linewand, timothy allman, and michelle sm

fed chairman ben bernanke testified before the house budget committee on wednesday, his first appearance before the republican-controlled house. the dow rising 29 points friday to 12,992. the nasdaq rose to a three-year high. also the settlement is part of a class-action lawsuit filed in 2009 including jpmorgan chase and citigroup. >>> yahoo! is moving to more personalized content. the website has been hit by declining revenues and a steady stream of employees walking out the door. yahoo! is developing a platform to give personal apps on employees' phones and personal devices. back to you. >>> facebook may be ready for a new home. the palo alto social networking giant report edly is moving to microsystem's campus. facebook has grown to more than 2,000 employees from about 1,000 back in august of 2009. >>> aol is purchasing "the huffington post" for $315 million. the purchase will bring an additional 25 million daily visitors to the aol empire. once the deal is approved it will put arianna huffington is in charge of all aol content. tim armstrong says 2011 will be the comeback year for th

fed chairman ben bernanke testifies before the house budget committee. quarterly results from cisco systems and coca cola, and verizon begins selling apple's iphone. also tomorrow, hilary kramer is back as our "street critique" guest. e-mail us your questions. the address is streetcritique@nbr.com. the f.d.a. today proposed a new way to fast-track cutting edge medical devices. the idea is to speed up things that could revolutionize patient care. the f.d.a. has come under fire for losing ground to europe, where devices are approved faster. but some consumer groups worry ramping up the process could be risky for patients. the f.d.a. will listen to those concerns from the public for a month. >> tom: if you've been hiding assets overseas from the i.r.s., you now have a second chance to fess up to the tax man without criminal prosecution. the voluntary disclosure program announced today requires you to settle up with the i.r.s. by the end of august. if you're caught after that, you'll face harsher penalties and possible jail time. the offer is similar to one

fed chair ben bernanke warns the job growth this year will not be strong enough to drive down unemployment quickly saying it could take several years before the labor department returns to pre- recession levels. bomb shell allegations that jp morganchase knew what ponzi king bernie madoff was up to and did nothing about it. emails show that executives knew of the fraud. and ford is expected to recall 280,000 trucks here in the united states to fix a door problem. the recall affects f-150 trucks from the 2009 and 2010 model years. the door handles on those vehicles could break, possibly leading the doors to open in a crash. no crashes have been tied to the problem. the recall is expected to begin in ten days. >> that's your money watch. for more, stay with cbsmoneywatch.com. >>> a computer glitch has now been fixed at a gas station. for a short time last night, drivers filled up on 39 cents per gallon at the 76 station. there was so much traffic, police had to block the entrances to keep new drivers from entering. certain calling grandma down the -- everyone is calling grandma down the stre