Bunning to Bernanke: the A.I.G. bailout alone is reason enough to send you back to Princeton

Senator Bunning has written quite an accurate summary of what happened during the past 18 months and made a very strong statement against Ben Bernanke at the Banking Committee hearing today.

Here's a quote from the very last paragraph:

From monetary policy to regulation, consumer protection, transparency, and independence, your time as Fed Chairman has been a failure. You stated time and again during the housing bubble that there was no bubble. After the bubble burst, you repeatedly claimed the fallout would be small. And you clearly did not spot the systemic risks that you claim the Fed was supposed to be looking out for. Where I come from we punish failure, not reward it. [...] Judging by the current Treasury Secretary, some may think Washington does reward failure, but that should not be the case. I will do everything I can to stop your nomination and drag out the process as long as possible. We must put an end to your and the Fed’s failures, and there is no better time than now.

The fullstatement is available on YouTube below and on the Senate.Gov site (direct link to the statement).

Below is the video on YouTube: