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Police accuse bank robbery suspect of gobbling up note (with dashcam video)
Victim of beating in Kent last week is declared dead at Akron hospital
Akron man killed in crash on his street
Browns find another way to lose
Can DNA tests free ex-Akron captain?
Dad accused of forcing son into field, killing him
Man found dead in North Akron home is identified
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Cat-loving chihuahua suckles seven abandoned kittens
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Sunday Notebook
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Browns sick after sick loss in Detroit
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Zips advance to Sweet Sixteen
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Seven players added to Tribe’s 40-man roster
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Post-game defensive quotes
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Kent State defeats Rochester College, 63-44
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Gameblog: Cavs vs. Philadelphia 76ers
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OSU – Michigan college football rivals meet in Baghdad
Varsity Letters:
Four area football teams play tonight
All Da King's Men:
Blog of Mass Destruction:
Will Health Care Reform Pass?
Akron Law Café:
Health Care Financing Reform: (70) Savings in Medicare Advantage
See Jane Style:
Vintage Chic
Car Chase:
TIME TO GET YOUR COLLECTOR CARS WINTERIZED
Let's Talk Real Estate:
Faye Dunaway to be Evicted?
Ohio Travels with Betty:
Monique asks how to get tickets for the Polar Express.
Sound Check:
Steely Dan Plays "The Royal Scam" at E.J. Thomas Hall
HRLite House:
Personal Rant – You are All Wrong About Jobs, or the Lack of Jobs, Being the Reason People Do Not Live in NEO
Akron Gamer:
Nintendo's Mario endures even as games come and go
Some thanks for rescuing the economy
Published on Wednesday, Jul 01, 2009
Much of the concern focused on the Fed's role in bringing together Bank of America and the faltering Merrill Lynch at the start of the year. Republicans pounded the theme of a heavy-handed Bernanke, too eager to intervene in private markets, even threatening bank leadership. Democrats largely fixed on the lack of transparency, alarmed at the Fed making dramatic moves with scant accountability.
At the witness table, Bernanke appeared hesitant at times, seemingly uncertain whether to engage in a sustained argument or let lawmakers vent their frustration. He did insist that no such threats were issued and that the Fed acted with the ''highest integrity.''
No question, Bernanke erred in anticipating the debacle on Wall Street (along with many others). He argued for too long that the fundamentals of the economy were sound. When the crisis hit? Bernanke reacted forcefully. He mobilized the resources of the Federal Reserve to prevent an economic calamity, applying lessons learned from the Great Depression.
Consider the extraordinary steps initiated by Bernanke to blunt the credit meltdown. The Fed expanded its role in providing short-term liquidity to banks and other financial institutions. It moved to bolster directly borrowers and investors in key credit markets. The Fed took the further step of purchasing longer-term securities for its portfolio, including up to $1.25 trillion in mortgage-backed securities.
All of this ensured that the lifeblood of the economy continued to flow. Ben Bernanke deserves a pummeling? Not in the context of rescuing the economy.
Get the full article here.
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