Ben Bernanke had an obligation as Fed chair to expose and stop the rigging of inter-bank lending rates.This sub-headline is nonsense if one understands society from a class point of view--which this liberal author cannot. Instead, he serves to maintain fantasies about our government. Such as the "obligations" mandated by Congress, especially the one about maintaining full employment are only ruses to legitimate the function of the Federal Reserve--a self-interested consortium of private bankers.
In the US the sixteen trillion dollars used mostly to bail out domestic and foreign banks could have been a bonanza in the creation of full employment if it had been used in the reconstruction of the antiquated infrastructure in the US. But, in the real world the so-called Federal Reserve is really only obligated to their fellow bankers--the international bankers club that largely rules the world. Thus, Bernanke and his fellow bankers at the "Federal Reserve" fulfilled their true obligations!
Likewise, the government prosecutors fulfilled their obligation to their masters in the banking sector by not prosecuting Goldman Sachs that benefited from both the profits from selling financial products they knew were defective and the bailout of AIG that insured their bad bets.
