bernanke is going to do that. yes brokerages in london are apparently shutting up shop laying off brokers and heading out of town now tim lynn aker who is stepping down as chief executive officer at panmure gordon and company one hundred thirty five year old brokerage said this isn't just a blip this is much worse it's a desert for activity which is why you are seeing some firms throw in the towel is partly due to the collapse in the i.p.o. market but also the fact that it appears that these smaller brokerages just can't compete with the large firms in terms of the high frequency trading you know that most like the likes of goldman sachs and j.p. morgan can trade at a speed faster than the speed of light so these firms can afford the mult. million dollar colocated computers to front run clients around the world that's right they can use high frequency trading to go back in time and still money from people from last year you know they're crying here that these brokerages are shrinking but it's better than their act

is bernanke fair game here? >> no.uld stop targeting the fed and ben bernanke. i'd even go so far as to say ben bernanke has been one of the most successful people in keeping this economy completely off the cliff and over into the abyss over the last couple years. let me say this about newt gingrich. i, again, have substantive critiques compared to other presidential candidates. his fundamental flaw, fundamental political characteristic he has that is a problem is a lack of humility. it is reflected in his economic plan. he wants to subsidize various energy companies, embraces tax credits. these things distinguish him from other candidates and it shows that he thinks he can tinker this economy to its optimal level which to me makes him marginally different than president obama. >> firing bernanke is what you were talking about. he needs that 9-9-9 message, that simple thing people can understand. do you know how awesome it sounds when someone like newt gingrich says, well fire ben bernanke, the fed chief? it just sound

is bernanke fair game here? >> no. wish republicans would stop targeting the fed and ben bernanke. i'd even go so far as to say ben bernanke has been one of the most successful people in keeping this economy completely off the cliff and over into the abyss over the last couple years. let me say this about newt gingrich. i, again, have substantive critiques compared to other presidential candidates. his fundamental flaw, fundamental political characteristic he has that is a problem is a lack of humility. it is reflected in his economic plan. he wants to subsidize various energy companies, embraces tax credits. these things distinguish him from other candidates and it shows that he thinks he can tinker this economy to its optimal level which to me makes him marginally different than president obama. >> firing bernanke is what you were talking about. he needs that 9-9-9 message, that simple thing people can understand. do you know how awesome it sounds when someone like newt gingrich says, well fire ben bernanke, the fed

the message from ben bernanke today was upbeat, or was it? for every positive comment there was also a negative. the fed's policy statement said there's "some improvement" in the job market but, also, the unemployment rate remains high. it noted that the economy has been "expanding moderately," but "strains in the global financial markets" continue to pose "significant downside risks." and policymakers said consumer spending is advancing, but business investment appeed to be pulling back. harris private bank's jack ablin says all that equals uncertainty for investors. >> we're still in this roller coaster market that, end to end, isn't going very far. so we want to add risk when we think the market's going to go up over the course of a year year and a half or two, and then promptly take risk off the table when we think things are heading lower. and for right now, unfortunately, we do believe things are still uncertain and we have a relatively defensive risk posture right now. >> susie: nine out of ten fed officials voted to take no action on

i had a meeting with ben bernanke and hank paulson today.'t tell you what the meeting was about, only we can run this. but when i came out i called my broker and bought 1,000 puts on the s&p 500. every night they should report that every night. i'm fine with it. >> paul: are you okay? >> it is outrageous, it's a double standard. there are lawyers the s.e.c. can go after members of congress if they trade on insider information. inside information has been basically defined by case law. >> paul: when ben bernanke and paulson went to capitol hill and says the sky is going to fall if you don't pass the bill. everybody knew about it? >> everybody knew after it leaked out. >> paul: they knew there was financial crisis brewing? of course, you did? >> i think we see it every day. whenever the fed makes a new policy move, markets react. that is understandable. markets move on information. >> paul: where are you going to draw the line? at congressional hearings? >> realtime information about what they are doing in their stock accounts. at the end of t

congressman mick mulvaney talking to federal reserve chairman ben bernanke when bernanke he was testifying on the hill at a hearing october fourth because it really adds to the conversation we're able to borrow so much money right now at a reduced rate there's a very strong introduce here to simply put off the tough decisions for another day if the interest rates today were at their historical average and the government was paying five or six percent on its money i can assure you we'd be having a lot more longer more serious conversations about what to do about this debt that we're having today but there ya have it politicians love that easy money this low interest rate environment now your at and why k l r writes they have a city called washington and russia russia today from washington well f. and y k l r no they do not not to my knowledge at least r t is an international network america is part of it with programming in the us and we broadcast from washington d.c. from where we are based and where we here at capital count report now where star eighty five said l.o.l. i thought she was g

it began with the top economic man, ben bernanke teaming up with other central banks.n't all europe. good news at home too. more than 200,000 jobs added in america, home sales jumping by the most in over a year. and business confidence in our manufacturing heartland rising. former floor trader peter ken nr came "outfront" and says he thinks we can bill on this because people have been spending money this holiday season. >>> number two, evangelist billy graham admitted to a north carolina hospital today. he's under evaluation and treatment of his lungs. the hospital added graham was treated in may for pneumonia. they issued a statement saying, while no date is set for discharge, mr. graham is looking forward to returning home to spend the upcoming chris plas holidays with his family. >> number three, something that matters to a lot of americans, lipitor lost its patent today. that means generic versions can be sold. 17 million people are prescribed lipitor. the drug brought in $5 billion in u.s. revenue alone last year. fizer analysts told "outfront" sales will decline

it began with the top economic man, ben bernanke teaming up with other central banks.. more than 200,000 jobs added in america, home sales jumping by the most in over a year. and business confidence in our manufacturing heartland rising. former floor trader peter ken nr came "outfront" and says he thinks we can bill on this because people have been spending money this holiday season. >>> number two, evangelist billy graham admitted to a north carolina hospital today. he's under evaluation and treatment of his lungs. the hospital added graham was treated in may for pneumonia. they issued a statement saying, while no date is set for discharge, mr. graham is looking forward to returning home to spend the upcoming chris plas holidays with his family. >> number three, something that matters to a lot of americans, lipitor lost its patent today. that means generic versions can be sold. 17 million people are prescribed lipitor. the drug brought in $5 billion in u.s. revenue alone last year. fizer analysts told "outfront" sales will decline by 50% at the end of the year. as muc

. >> susie: some sharp words from ben bernanke today. the federal reserve chairman responded to recent reports claiming the fed directed over $7 trillion in secret loans to big banks during the financial crisis. in a letter to lawmakers, bernanke said those reports contained "a variety of egregious errors and mistakes." last month, "bloomberg markets" magazine reported that banks reaped an estimated $13 billion in income by taking emergency loans from the central bank. meanwhile, progress for creditors of lehman brothers, the investment bank whose collapse accelerated the financial crisis. a federal judge today signed off on lehman's $65 billion plan to exit bankruptcy early next year and pay off its creditors. but it won't be the same lehman- - after the biggest bankruptcy in history, all that's left is a collection of assets like real estate, private equity, and banking investments. unsecured creditors will get between 21 and 28 cents on the dollar for their investments, but shareholders will get nothing. >> tom: a cornerstone of the d

so ben bernanke and head of the new york fed will have more company. so they'll be able to carry to qe-3. second, if europe listens like i anticipate, that's going to be the ammunition for the fed chairman to see we see a bigger risk for the u.s. economy, therefore, i have to ease further. >> with all of this, how do you want to be divested? give me an example of a diversified portfolio. >> you want to be part of the barbell. one part of the barbell is very safe. despite the fact on friday we were less than 190 on the friday ten-year yield, we are probably going to 150. your investors will make some money there in the next six weeks or so. similarly, with the germans, more money is going in, bank deposits are being emptied in greece, for example, and they're going to put the money into german bonds. at the other end, i talked about eye risk, betting on the euro weakening, betting on equities going down further which can allow your investors to benefit from that. so rather than be balanced, you're going to be at two extremes, very safe and some very ris

next month, chairman ben bernanke and his colleagues will craft a plan to help markets understand where the fed is heading. darren gersh takes a look at the federal reserve's plans for 2012. >> reporter: one way the fed might change its communications strategy is by releasing its forecast for short-term interest rates. fed watcher roberto perli says markets now expect the fed to begin raising interest rates around the end of 2013, but he believes the fed's forecast has rates rising a year later-- at the end of 2014. releasing that forecast would be an easy way to convince markets it's okay to keep rates low, and maybe even lower, for longer. >> it is cheap because it does not require purchasing securities. it is not as controversial as doing that, but it's not cost- free. >> reporter: not cost-free because perli says clearer communications means investors will expect the fed to stand by its word. >> they don't want to be seen as committing to raise rates, say, in 2014 when economic conditions could change, so that's why they want to cast this in terms of a forecast, not a commitment, bu

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this goes against the prevailing theory of people like ben bernanke or part krugman of the new york times who believe that the depression was not caused by a credit boom of the one nine hundred twenty s. but caused by policies that came in after after the crash so your thoughts i would say the following you know if you look at such a crisis and such a recession it is very clear that at the starting point of such a recession or depression the economy must have accumulated mess of mis locations or imbalances and the question for us economists is how can an economy. to get itself into such a position that it has these mess of dislocations that obviously for an extended period of time so many people made you know wrong decisions and allocated capital in correctly overextended bank balance sheets how could all of this happen and i think one of the criticism i have of the interpretations of other mainstream economists is that the always focus on this thing of lack of a good demand the focus on a symptom of the crisis but the kenneled really explain how this imbalance came about and i would argu