Posted on 01/22/2010 12:45:14 PM PST by FromLori
Bernanke is one vote closer to retirement. Fox Business reports that Alabama Sentor Jeff Sessions has said that he will not vote to reconfirm Ben Bernanke.
A recent Senate poll of Bernanke support indicates the following (partial) results: of 34 senators polled, 5 (all democrats) are still undecided, 17 support Bernanke (13 Democrats, 4 Republicans), while 1213 support the Pink Slip (78 Republicans, 5 Democrats/Indeps). 41 are needed for Bernanke to take a hike.
(Excerpt) Read more at zerohedge.com ...
ping related
http://www.zerohedge.com/article/bernanke-senate-support-roll-call
Watch this video too
http://video.foxbusiness.com/v/3980787/ben-bernankes-nomination-in-trouble/?playlist_id=87185
see obamas welfare queen buffet he of course supports him
Very interesting, but the numbers don’t add up.
ping
Sessions is a good man but he’s making a mistake here. Bernanke has done a brilliant job and should be confirmed by the senate immediately. The Fed acted decisively and brilliantly during the depths of the financial crisis in 2008 and prevented another great depression. The culprits in this crisis are irresponsible mortgage borrowers, overconfident mortgage lenders, and people like Barney Frank and Chris Dodd who wrote legislation that pushed the banks and FNMA into so much sub-prime mortgage lending and prevented adequate regulation of Fannie Mae and Freddie Mac. Opposition to Bernanke in the senate is nothing more than vacuous political posturing by some of the same politicians who helped to create the crisis. If Bernanke is not confirmed, that will do more damage to the confidence of investors and would also be a great injustice to Mr. Bernanke.
I sure wish we could send a tank of oxygen to the Republican Senators.... Sure takes them a long, long time to wake up.... /sadness
I sure wish we could send a tank of oxygen to the Republican Senators.... Sure takes them a long, long time to wake up.... /sadness
I sure wish we could send a tank of oxygen to the Republican Senators.... Sure takes them a long, long time to wake up.... /sadness
Hmmm...the devil you know or the devil you don’t
No, they’re off target on this one. Bernanke is more of a hero than a villain in this financial crisis.
Dump him definitely! Too much cheap money fueled this bubble alongwith our own craziness. He killed the savers.
Amen to that!
The only thing wrong with dumping helicopter Ben is we might end up with somebody worse. Still, I’ll take my chances. I say dump the fool. He participated in blowing the bubble, didn’t see it as it was forming, and denied having anything to do with it after it burst. To call him incompetent is kind.
TY
I agree he is horrible helped bring us to this point and obama wants him reconfirmed to run those printing presses for his new spending. Market Ticker guy likes Volcker
http://market-ticker.denninger.net/archives/1891-Bernanke-Pound-Your-Senators-NOW!.html
Volcker would be a huge improvement.
However, I disagree with Sessions that the FED Chief should take the charge a speak out against wild spending. THAT IS THE CONGRESS'S JOB to live within the country's means and spend on items only mandated by the constitution.
Could you, maybe, correct the scoreboard?
The magic number is not necessarily 41.
There may be some who will vote against him, but wouldn’t vote to filibuster the re-nomination.
So you would need either 41 who are willing to filibuster, or 51 who are willing to vote no.
I’m not a big fan of Bernanke. But I wouldn’t want Volker. And I’m pretty sure whoever Obama picked in his place would be really bad — has Obama picked ANY competent people yet?
Bernanke ignored the signs directly in front of him as to the size and breadth of the bubble. He refused to use the Fed’s regulatory authority to bring any responsibility into lending practices. He famously predicted that it would be “contained” when it was obviously not.
I’m sure he’s a competent academic, but he’s way, way out of his depth in dealing with the financial markets.
And today, the secrecy with which the Fed treats the Maiden Lane issues... has pretty much been the last straw for many in DC.
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