Video: Maxine Waters, Ben Bernanke try to debate monetary policy

posted at 6:50 pm on February 26, 2010 by Allahpundit

So painful is this to watch that not only is she being openly mocked for it at CBS(!), they actually clipped and posted the video so that people could pass it around. Quote:

I actually pitied Bernanke as he attempted to remind Ms. Waters the difference between the discount rate and the fed funds rate. Doesn’t she have anyone on her staff who could have prepped on the material? It’s not as if these are difficult concepts.

The more Waters talked, the worse it got. These are the very people who think they are better equipped to want to be entrusted with auditing the Fed. Now that’s a scary concept.

No, what’s scary is that this isn’t even the most obtuse exchange she’s had with an economic titan at a House hearing. That prize goes to her discussion with Geithner last year about the pernicious influence of Goldman Sachs on the Treasury Department. Kudos to Bernanke for resisting the urge to grimace with incredulity. Geithner wasn’t so lucky.

Between this and his chats with the Paulnut-in-chief, how much do you think Bernanke looks forward to his trips up the Hill?


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“Dumb and Dumber”, the sequel to the sequel.

I suppose Narnutboy will call me a racist.

jbh45 on February 26, 2010 at 6:54 PM

…And tomorrow, Elmer Fudd visits the Dahli Lama and asks:
“What Mr. Wamma, is the purpose of Wife?”

Chewy the Lab on February 26, 2010 at 6:54 PM

AP, the biggest concern is the politicization of the Fed leading to a failure to tighten and thus…Carteresque hyperionflationary DOOM!!!

Stagflation IMo is unavoidable in this political environment.

What does everyone think the CongressCritters reaction will be when Ben and Co stop buying and eventually, start selling MBS?

How about in 2011 when they tighten? (thats my bet, 2011)

It will be, as Nugent would say, a freeforall

When I saw this testimony I wished I had any cashflow to make a bet on the FED tightening in 2q 2011 the earliest, the writing is on the wall.

ginaswo on February 26, 2010 at 6:55 PM

OT:Bomb Threats called into Senator Bunning’s Kentucky offices.

Must be those radical liberals racist teabaggers terrorists.

Enoxo on February 26, 2010 at 6:55 PM

She’s a moron…just about everything that comes out of her mouth is about as equally well informed and thought out. She’s a “jack of no trades and a master of none”.

AUINSC on February 26, 2010 at 6:57 PM

Maxine Waters is too dumb for words.

Back during the original TARP hearings (as the crisis was bearing down on us and before the bill passed) Waters spent her time trying to push Bernanke (or Paulson – I don’t recall) that women and minority-owned businesses would be affirmative actioned into managing some of the toxic assets that were supposed to be bought by the federal government (but never were). That was all this slug cared about. I almost threw up just watching her insane performance. She should have been thrown out of Congress, or just censured for her offensive stupidity and attempt to continue the same sorts of policies that brought the credit crisis on, in the first place.

neurosculptor on February 26, 2010 at 6:58 PM

She should have quite while she was ahead…

destroying our economy.

Seven Percent Solution on February 26, 2010 at 6:58 PM

Great example as to why we need to bring back voter tests.
(For you Dems, that means you have to take a test and pass it before you are permitted to vote.) Or run for National Office. Or both.

IlikedAUH2O on February 26, 2010 at 6:59 PM

Neither know what they are doing. Waters continues to be a national disgrace. And Helicopter Ben is wedded to a faulty ideology.

flyfisher on February 26, 2010 at 6:59 PM

Funny. I think this might be the first time in her life that Maxine Waters is concerned that an increase in cost to a business might be passed on to consumers.

RationalIcthus on February 26, 2010 at 6:59 PM

Worst. Political. Class. Ever.

rbj on February 26, 2010 at 6:59 PM

What a freakin’ idiot.

OmahaConservative on February 26, 2010 at 6:59 PM

OMG~this woman makes idiots look like mensa candidates.

HornetSting on February 26, 2010 at 6:59 PM

How the f*ck can she be in any position of responsibility?

jukin on February 26, 2010 at 7:00 PM

She’s a “jack of no trades and a master of none”.

AUINSC on February 26, 2010 at 6:57 PM

But South LA will continue to put her in office. Oh sorry AP/Nutaroboy I bet that is a racist comment….

jbh45 on February 26, 2010 at 7:00 PM

A pity Obama didn’t marry her.

The intellectual frisson could have lit up a penlight.

profitsbeard on February 26, 2010 at 7:01 PM

I’ll admit that I have NO idea what a fed funds rate but……I’m not a Congresswoman.

terryannonline on February 26, 2010 at 7:02 PM

One could imagine that Maxine and Joe Biden, in a night of unholy congress, created an even stupider human being but it’s hard to believe.

Joan of Argghh on February 26, 2010 at 7:03 PM

Maxine Waters, Ben Bernanke try to debate monetary policy

What could possibly go wrong?

highhopes on February 26, 2010 at 7:03 PM

It’s like trying to teach a chimp calculus.

Meric1837 on February 26, 2010 at 7:03 PM

I feel pity for any person who has to face down this woman’s questions. She always rushes head long into embarassment.

myrenovations on February 26, 2010 at 7:04 PM

IIRC, Maxine thought that Franklin Rains (I don’t care what his name is spelled like) was doing an impeccable job with the government sponsored enterprises of freddie and fannie.

Way to get a pass from this dim bulb is to have her skin color.

jukin on February 26, 2010 at 7:04 PM

I’ve never seen Maxine say anything that doesn’t add to the evidence she is a complete moron.

Scrappy on February 26, 2010 at 7:05 PM

Yes Maxine, keep subsidizing bad mortgages. What could go wrong?

forest on February 26, 2010 at 7:05 PM

I forgot to mention that you could make a full length feature film on this lady if you hang out in the right places. It was deja vu for me. Like being back in school with the idiots. While having pity for them and resenting the programs that put them there.

But…you missed the Congresswoman threatening to nationalize the oil industry? Classic comedy!

IlikedAUH2O on February 26, 2010 at 7:05 PM

Isn’t she the one who wanted to “national…” the oil companies awhile back?

Her in charge of our oil and gas.

Think about it people.

These people are frightening.

UnderstandingisPower on February 26, 2010 at 7:05 PM

My brain hurts.

peski on February 26, 2010 at 7:06 PM

She should leave the pounding of Helicopter Ben to Ron Paul. Paul is like Daniel Hannan, in that he is the only person making sense and not lying in the country’s legislative bodies.

The Dean on February 26, 2010 at 7:06 PM

a bomb threat was called in Friday afternoon against the Hazard office of Republican Sen. Jim Bunning

Those Dukes boys.

davidk on February 26, 2010 at 7:06 PM

Bernanke is a remarkably unflappable guy.

Slublog on February 26, 2010 at 7:06 PM

It’s like trying to teach a chimp calculus.

Meric1837 on February 26, 2010 at 7:03 PM

Racist!

Scrappy on February 26, 2010 at 7:07 PM

Wait for it… waaaiiitttt…..

“Maxine Waters has suddenly become an advocate for all things gay…”

Seven Percent Solution on February 26, 2010 at 7:07 PM

a bomb threat was called in Friday afternoon against the Hazard office of Republican Sen. Jim Bunning
Those Dukes boys.

davidk on February 26, 2010 at 7:06 PM

Heh.

O/T….Juan Williams is a douchebag.

HornetSting on February 26, 2010 at 7:08 PM

You know who is more stupid?

The people who for for this . . . thing.

davidk on February 26, 2010 at 7:08 PM

Meh. A lot of these morons in Congress don’t know a damn thing about economics, or anything else….Not suprising.

therightwinger on February 26, 2010 at 7:08 PM

Maxine could not count change at a lemonade stand.

mobydutch on February 26, 2010 at 7:09 PM

Wait for it… waaaiiitttt…..

“Maxine Waters has suddenly become an advocate for all things gay…”
Seven Percent Solution on February 26, 2010 at 7:07 PM

Now thats a post AP can get behind.

jbh45 on February 26, 2010 at 7:09 PM

Remember folks, this is the same creature that let the world in on what was coming back during the Exxon congressional hearings. If I recall correctly, she told the exec that the Liberals were going to nationalize the oil-energy industry.

The people who elected this moron into office should be as ashamed of themselves as the people of Minn. who put Frankin in the Senate. Stupid is as Stupid does.

Keemo on February 26, 2010 at 7:09 PM

We need Maxine Waters in the next Healthcare Summit.

Everyone get to it.

Khorum on February 26, 2010 at 7:10 PM

HornetSting on February 26, 2010 at 7:08 PM

Exactly right; I think we deserve a separte post on that POS on this, a slow Friday night…..

Keemo on February 26, 2010 at 7:11 PM

And remember Maxine Waters actually being honest for once and describing herself as a Socialist? Here are some videos of that plus a bunch of Democrats, including Waters, praising Fannie and Freddie.

Blue Collar Todd on February 26, 2010 at 7:13 PM

Good old Maxine. An intellectual powerhouse! The same dumb ass who was saying how financially solvent Fannie Mae and Freddie Mac where. Keep it up Maxine! Maybe someday those idiots in LA will realize how stupid you actually are and stop sending you back to Washington.

GarandFan on February 26, 2010 at 7:13 PM

Bernanke refused to confirm or deny that raising the discount rate is the cause of global warming.

munseym on February 26, 2010 at 7:14 PM

Meh. A lot of these morons in Congress don’t know a damn thing about economics, or anything else….Not suprising.

therightwinger on February 26, 2010 at 7:08 PM

That’s right. But then you don’t see them acting like Maxine and trying to debate it with economic experts.

As the saying goes… it’s better to keep your mouth closed and appear a fool than to open it and remove all doubt. Maxine is repeatedly removing that doubt.

Scrappy on February 26, 2010 at 7:14 PM

Ms. Waters…open your packet and do your homework before you go to another hearing. This woman doesn’t know what the heck she is talking about.

yoda on February 26, 2010 at 7:15 PM

The only obvious explanation for her continued reelection to Congress is that her constituents are actually dumber than she is. Can that be possible?

Cicero43 on February 26, 2010 at 7:16 PM

What’s funny is that she is both ignorant, and correct. As for the ignorant part, just listen to the tape. It speaks for itself.

As for the correct part, her final sentence is “you don’t expect them to pass on that cost [increase in the discount rate] to the consumer?” is of course, correct. Or at least plausible.

Is Ben “Bonecrusher”* Benanke correct that there is no direct link between the discount rate and ARM’s? Yes, I think so.

*Little known fact: Prior to Ben Bernanke entering the finance world, he trained for three years in Thailand as a Muay Thai kickboxer. After he killed a man with his bare hands in the ring, he gave up fighting forever, and entered the world of finance as a way of making amends.

EFG on February 26, 2010 at 7:17 PM

Lol… Well, the good news is that she is right on the money when it comes to the views of her demographic; left-wing loonies…

Great Sage on February 26, 2010 at 7:19 PM

Actually, after seeing this I think I want to hang out with Maxie. She would make me look like Albert freakin’ Einstein!

JusDreamin on February 26, 2010 at 7:19 PM

I sincerely doubt that Maxine can read.

Dire Straits on February 26, 2010 at 7:20 PM

Ms. Waters’ mind isn’t making the connection between the microphone and that nasty pop she hears every time she says a “P” sound. So what’s the chances it’ll connect monetary policy with its practical effects?

California, are you watching this? I know you’re not going to elect a R but at least elect a D that isn’t so embarrassing.

Sorax on February 26, 2010 at 7:20 PM

How embarrassed must her competitors be who lose to her time and time again each two years?

Pablo Snooze on February 26, 2010 at 7:21 PM

Of course he’s going to have to eventually raise the interest rates if he keep spending so much. EVENTUALLY that is.

duh.

Spathi on February 26, 2010 at 7:23 PM

There is nothing more ridicule-worthy than a person who believes they are intelligent, who like to sound intelligent, yet are basically as dumb as a fence post. Bernanke told her several times that the discount rate and ARMs aren’t connected, that it’s the Fed Fund rate, but she just wouldn’t let it go. And managed to sound like an idiot in the process.

Intrepid on February 26, 2010 at 7:23 PM

In response to Bernanke’s testimony this week, Denninger says we’re not headed for hyperinflation (as he’s been saying forever). Bernanke Repudiates Famous 2002 Speech

I agree with Denninger, I don’t think we are headed for hyperinflation. I also believe many conservatives have been sold a bill of goods by well-meaning conservative leaders (who are generally former disc jockeys and lawyers NOT trained in finance or economics) pimping gold. Retire all debt and buy lead!

flyfisher on February 26, 2010 at 7:23 PM

I guarantee that she will never see herself as anything but a beautiful, intelligent, elitist genius, and only other geniuses (Dems) can graps her vast knowledge, and skills. They all seem to like living in denial.

capejasmine on February 26, 2010 at 7:24 PM

Maxine is MoRon!

Ricohoc on February 26, 2010 at 7:25 PM

But you see….It’s PALIN who is STOOOOOPID….and those “tea-baggers”.

Not this genius who KEEPS GETTING VOTED BACK INTO OFFICE BY HER REALLY, REALLY SMART CONSTITUENTS!

Opposite Day on February 26, 2010 at 7:26 PM

I might support a ticket with Obama and Waters. Imagine the humor.

IlikedAUH2O on February 26, 2010 at 7:27 PM

I tried to explain superconductivity to my dog once. It went like this.

29Victor on February 26, 2010 at 7:28 PM

She is the poster child product of affirmative action, democratic plantationism, and the cultural repression by blacks of their own people in the educational system. Alien offspring? No, natural by-product of what the liberal left foisted upon Americans over the last 60 years. She would actually excel as a banana republic legislator. Perhaps she could get a job in Haiti, she’d fit right in the politics there.

wepeople on February 26, 2010 at 7:29 PM

And while Maxine Waters may not be able to read, I wonder if Corrine Brown can even speak English:

http://iowahawk.typepad.com/iowahawk/2009/03/the-gradulation-proclamation.html

Pablo Snooze on February 26, 2010 at 7:30 PM

The reason “Wacky Maxie” keeps on getting re-elected is because the people in her district are actually stupider than she is! Have you ever driven through South Central/Watts? It’s like driving through the bombed out hell of Harlem in the 70′s… and good luck surviving if you’re white!

Oh, and doesn’t “Wacky Maxie” and her hubby have interests in a few banks in her district? If I remember there was quite a rumble a few months back during TARP talks that she and hubby were going to benefit from the bailouts for some banks they owned a piece of.

angrywonk on February 26, 2010 at 7:30 PM

The worst part is she is re-elected by over 80 percent of the vote each term. The r’s don’t even run a candidate against her. The other 20 per cent vote third party to avoid voting for her. I lived in her district a few years.

karenhasfreedom on February 26, 2010 at 7:30 PM

I have heard that our government is full of these guys at supergrade level. While PhDs are out driving trucks and working in construction.

IlikedAUH2O on February 26, 2010 at 7:31 PM

Affirmative action on display..

fivefeetoffury on February 26, 2010 at 7:32 PM

Reason number 35 why California is going down the financial toilet

Kini on February 26, 2010 at 7:32 PM

These are the very people who think they are better equipped to want to be entrusted with auditing the Fed takeover our healthcare system.

FIFY

BacaDog on February 26, 2010 at 7:34 PM

In a nutshell, this is why you don’t want congress setting Monetary Policy, one of the main reasoning’s behind a central bank.

jp on February 26, 2010 at 7:34 PM

Wow.

Anyone who can stick up for Bernake on ANY matter regarding the FED and in the same breath say anything about the importance of fiscal conservatism, has no idea what they are talking about.

I think you just outed yourself as a giant political hack.

bingsha on February 26, 2010 at 7:34 PM

This liberal will be all about socializing……. ops thats her line

historian on February 26, 2010 at 7:36 PM

Another affirmative action Marxist imbecile. just like the one in the White House.

elduende on February 26, 2010 at 7:36 PM

Her district is trending Hispanic but I doubt many are eligible to legally vote thus she holds her seat.

karenhasfreedom on February 26, 2010 at 7:37 PM

How the f*ck can she be in any position of responsibility?

jukin on February 26, 2010 at 7:00 PM

Consider her district…

I’ll admit that I have NO idea what a fed funds rate but……I’m not a Congresswoman.

terryannonline on February 26, 2010 at 7:02 PM

I don’t know you, but I flat-out guarantee that if you were sitting in that position, you would make sure you knew what you were talking about. (Me too). I’d either be well-versed or send in a sub!

Oink on February 26, 2010 at 7:38 PM

Painful to watch.

That’s not Maxine’s own hair, its not even a wig, its an alien, a dumb one.

Speakup on February 26, 2010 at 7:39 PM

The best was when they had the leaders of some major banks discussing the credit card mess. One bank President after being asked one of her rambling nonsensical questions point blank told her, I have no idea what you’re talking about.

lowandslow on February 26, 2010 at 7:40 PM

The biggest fools are those who vote for her.

The theatre she provides is priceless.

Schadenfreude on February 26, 2010 at 7:42 PM

I knew she was dumb. But I had no idea she was this dumb.

Splunge on February 26, 2010 at 7:43 PM

I saw this exchange this morning. The scary thing is I think Waters is brighter than Obama.

JammieWearingFool on February 26, 2010 at 7:43 PM

How the f*ck can she be in any position of responsibility?

jukin on February 26, 2010 at 7:00 PM

.
She’s not, she is in Congress, where most are irresponsible. No responsibility allowed.

Dasher on February 26, 2010 at 7:47 PM

The best was when they had the leaders of some major banks discussing the credit card mess. One bank President after being asked one of her rambling nonsensical questions point blank told her, I have no idea what you’re talking about.

lowandslow on February 26, 2010 at 7:40 PM

Dude, if you have a link for that, that would be so awesome.

EFG on February 26, 2010 at 7:48 PM

You watch this video of her making a complete and total fool of herself, you read all the postings here confirming the fact that she is indeed an idiot in serious need of a village, and then you are left scratching your head wondering exactly what is it about her that has the people in the district she is suppose to be representing re-electing her back into office again and again and again.

pilamaye on February 26, 2010 at 7:49 PM

“The Stupidity Inflection Point”

“The point where one person’s stupidity overwhelms another person’s capacity to manage it.”

Maxine Waters is such a mushroom. Her constituents deserve everything they vote for.

grumpy_old_soldier on February 26, 2010 at 7:59 PM

This was always a potential problem exacerbated by the focus that MSM folks placed/still place on race.

Politicians are, largely, stupid people. They have some innate cunning, but tend to get by on identification with a certain subset. When it is assumed that a Sotomayor is more in tune due to her abuela-ish qualities or an Obama has specific insight, then the other members of their (shocking that it is named such) caucus come under scrutiny and sadly come up short of the idyllic stereotype that the Couric-types push.

Eric Holder is a stupid man. This is not up for argument. Eric Holder is also a black man. Once again, not an arguable statement. Eric Holder has been touted as some sort of wunderkind of the magical power of diversity, even though he is dumber than corn. Assertions such as this set back race relations a goodly bit. Young Rangel and the esteemed Waters are not indicative of corruption and incompetence among black politicians any more than they are among all politicians.

But the emphasis on race makes it seem that way.

This is one reason that I cautioned against voting to assuage the white guilt that one might have felt from fifth-grade history. It puts an unreasonable burden on all blacks, advances discourse not at all and poisons the debate for the next couple of years. Had the toady-types in every news broadcast not stressed the transformative nature of an Obama presidency there would be no special pressure, but now that race informs every… single… damn… thing, it can come up for debate. And everybody looks stupid and venal.

Uncle Pinky on February 26, 2010 at 7:59 PM

Other than the glasses, is there really any difference in substance between Waters and Obama?

jbtripp on February 26, 2010 at 8:01 PM

I sure feel better knowing dolts like this are in charge.

Metro on February 26, 2010 at 8:01 PM

Neither know what they are doing. Waters continues to be a national disgrace. And Helicopter Ben is wedded to a faulty ideologiocy.

flyfisher on February 26, 2010 at 6:59 PM

fixed

cableguy615 on February 26, 2010 at 8:01 PM

Let’s remember here that … THE INTELLECTUAL … “Mad Maxine” Waters considers Sarah Palin unworthy of her attention.

HondaV65 on February 26, 2010 at 8:04 PM

I wouldn’t trust her to bake me cookies let along help run my country.

Mojave Mark on February 26, 2010 at 8:04 PM

… so …

Maxine agrees that a number of these dicey mortgage loans were (are!) “exotic loans”, hmmmm ….

yeah, the country’s in the very best of hands. I think Maxine should just donate her salary to the Fed in case the cost of money actually does go up. Holding my breath in 3, 2, 1 ……

dissent555 on February 26, 2010 at 8:08 PM

Yeah, those liberals and atheists have such darned high IQs:

http://hotair.com/headlines/?p=73231

They should include Maxine as a case study to prove their point.

AUINSC on February 26, 2010 at 8:14 PM

Valerie Jarrett needs to write one of those books for Maxine – Banking for Dummies.

Cody1991 on February 26, 2010 at 8:14 PM

How incredibly ignorant. And I’m sure she is far from alone. We have people making policy who don’t even have a basic understanding of economics. We are literally doomed.

voiceofreason on February 26, 2010 at 8:16 PM

She has a degree in Sociology from a college in L.A.This might qualify her,if given an agenda that she actually read ,to chair a grocery coupon clipping get together.Maybe.
She has the I.D.Ten T.syndrome.

docflash on February 26, 2010 at 8:18 PM

Mississippi : Arkansas :: Boxer : Waters

sulla on February 26, 2010 at 8:25 PM

“What a Maroon!”

Dread Pirate Roberts VI on February 26, 2010 at 8:31 PM

She’ll never top this classic:

http://www.youtube.com/watch?v=pW_FXjbt6wY

RightWinged on February 26, 2010 at 8:32 PM

Maxine Waters quotes

OmahaConservative on February 26, 2010 at 8:35 PM

I lost 100 points of IQ just watching that. Now excuse me while I go pull a molar with a pair of pliers, that will be much less painful.

Mini-14 on February 26, 2010 at 8:41 PM

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