Presidents should get the power to declare economic emergencies along the lines to declare war, said former Federal Reserve Chairman Ben Bernanke on Monday.
It might make sense to give “the president some ability to declare emergencies or take extraordinary actions and not put that all on the Fed,” Bernanke said at a conference. “The constitution gives the president significant flexibility to respond to military situations,” in part because they are chaotic, he noted.
“I am sure it is not politically possible, but it would be worth thinking about,” the former Fed chairman said.
– From the MarketWatch article: Presidents Should Be Able to Declare Economic Emergencies: Bernanke
For those of us who remain horrified and disgusted by the 2008-09 Federal Reserve and U.S. government bailout of the kleptocratic oligarchs who created the crisis, the above comments by the mastermind of this historic theft should be extremely concerning.
Although bankers and oligarchs got everything they wanted and more from the post crisis panic, what seems to bother Bernanke is that some of the response measures had to be pursued publicly. By calling for the U.S. President to declare economic emergencies in future crises, he is explicitly saying he doesn’t want Congress involved at all, even if just ceremonially. This man is a dyed in the wool fascist.
MarketWatch reports that:
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