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?