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  • June 25, 2009 12:10 PM EDT by Cheryl Casone

    Best Guess: Bernanke Edition II

    Once again, our esteemed Fed Chairman Ben Bernanke was on Capitol Hill, this time defending himself against allegations that he threatened Ken Lewis' job and that of the Board at Bank of America.  He stayed true to his defense, but do we believe him? Or, was it really Henry Paulson, Treasury Secretary at the time that made these veiled or not-s0-veiled threats? I'm sure Paulson's testimony will be on live television during the 12 ET time hour of FBN.  But, for now, here's the Best Guess segment web version!

    CC

    CHERYL: The news out of Yahoo's shareholder meeting will be their plans to change the branding and marketing of the site. They need to differentiate themselves from Google. Also, expect Carol Bartz to say they are open to a Microsoft deal. Steve Ballmer has already spoken.

    ERIC BOLLING: Stock market is in a good mood lately...it is looking at the glass half full after 18 months of glass half empty....s&p with a few bumps in the road is on it way higher

    STUART VARNEY: today's hearings are all about Bernanke being confirmed for another term. The alternative is Larry Summers, waiting in the wings....

    LIZ MACDONALD: The Paulson hearing will reveal that the then treas sec'y was the shotgun behind lewis's chair, not Bernanke.

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Jack Frayer

Even if they were acting with the best of intentions and integrity, they did not improve the outlook for job creation in the US. This is, by the way, an important part of their charter. This current focus on keeping financial companies strong(e.g. so that they can continue to loan money for school loans or car loans...) without strengthening their customers plight leads to an unbalanced relationship. The result of all this will be a collapse of the financial market. Just like swap derivatives were to reduce risk, the actual result was to increase risk. They don't have a clue what they are doing. Forcing the banks was a bad idea. Backstopping the banks was a bad idea. Reality is that job creation grows fastest when at the bottom. A fake bottom will only create fake jobs. To have a sustained growth in the economy, let's restructure our companies for success and not keep the current failing business model.

June 25, 2009 at 5:01 pm

about this blog

  • Cheryl Casone joined FOX Business Network (FBN) in September 2007 as an anchor. Prior to FBN, Casone served as a correspondent for FOX News Channel’s (FNC) business unit and was a regular guest on FNC’s Your World with Neil Cavuto. Casone brings years of experience covering finance, business, and consumer news to FBN.

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