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Bernanke's relationship with GOP deteriorating over Fed decisions
The Hill ^ | November 12, 2010 | Ian Swanson

Posted on 11/12/2010 5:10:16 AM PST by maggief

The Federal Reserve’s decision to pump $600 billion into the economy has further politicized the central bank and brought it into conflict with resurgent House Republicans.

The attacks and counter-attacks have further complicated life for Ben Bernanke, the Federal Reserve’s chairman who narrowly won a second term earlier this year after a tough Senate debate.

Bernanke was appointed by Republican President George W. Bush, but he appears to have few friends in a House Republican conference that views him with suspicion.

(Excerpt) Read more at thehill.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS:
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1 posted on 11/12/2010 5:10:19 AM PST by maggief
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To: maggief

Bush should never have appointed him.


2 posted on 11/12/2010 5:12:10 AM PST by Clintonfatigued (Illegal aliens commit crimes that Americans won't commit.)
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To: maggief

About damn time. After a little more love is gone, maybe they could think about bringing criminal charges, like perjury before Congress (a felony). “The Fed will NOT monetize the debt.”


3 posted on 11/12/2010 5:12:54 AM PST by coloradan (The US has become a banana republic, except without the bananas - or the republic.)
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To: maggief
So are they saying that Benanke's decisions are only controversial with the GOP?

Does this mean that the Donkeys actually approve of his stupidity? Or do even they know the truth and won't admit it?

4 posted on 11/12/2010 5:13:58 AM PST by Lysandru
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To: coloradan

That seems more like a broken promise than an absolute lie. But we may get the best of Ron Paul if he is sicked on the Fed but not a player in foreign policy, etc..


5 posted on 11/12/2010 5:17:57 AM PST by 9YearLurker
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To: Lysandru

Bernake needs to be arrested and tried for treason.


6 posted on 11/12/2010 5:18:23 AM PST by thethirddegree
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To: maggief; ding_dong_daddy_from_dumas; stephenjohnbanker; DoughtyOne; dools0007world; Gilbo_3; ...
RE :”Rep. Paul Ryan, the incoming Budget Committee Chairman, called the Fed’s recent decision to buy $600 billion in long-term Treasuries to boost employment a “mistake” that will lead to higher inflation. Rep. Cathy McMorris Rodgers (R-Wash.), a member of the GOP leadership, has compared the Fed’s action to the 2009 economic stimulus package that was unanimously opposed by the House GOP conference. Sarah Palin, a possible GOP presidential candidate in 2012, has also blasted the move.
President Obama and key congressional Democrats have offered defenses for the Fed’s decision.
“We applaud the Fed’s action and are especially encouraged by its clear signal that it stands ready to do more,” House Financial Services Chairman Barney Frank (D-Mass.) and Ways and Means Chairman Sander Levin (D-Mich.) said in a joint statement this week.

$$$$ raining on Obama ping!

7 posted on 11/12/2010 5:19:28 AM PST by sickoflibs ("It's not the taxes, the redistribution is the federal spending=tax delayed")
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To: 9YearLurker

Would you switch your vote from broken promise to outright lie, if the Fed was monetizing the debt, and he knew it at the time he said it?


8 posted on 11/12/2010 5:22:52 AM PST by coloradan (The US has become a banana republic, except without the bananas - or the republic.)
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To: coloradan

I’d guess it wouldn’t be a prosecutable lie unless he had at that point taken action or known of action that would have secured that outcome. In a common sense, however, sure, it could have been an intended lie.


9 posted on 11/12/2010 5:26:41 AM PST by 9YearLurker
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To: maggief

Chairman Barney Frank,,,,,well, Barney brought down Fannie and Freddie, why not stand up and be counted when these actions could bring down the whole USA......


10 posted on 11/12/2010 5:28:51 AM PST by radioone (Proud to be an enemy of Obama)
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To: maggief

The focus on Germany Brazil Japan and China may well
be out of place.

Why?

Because the US is getting support for it from Singapore UK Canadians and Australia support QE2.

Its understandable that the Canadians and Australia would support QE2 because the inflation it causes first hits raw materials of which both are major exporters. So QE2 will jack up their income considerably.

Its not so clear why the UK and Singapore are supporters
of QE2.

Finally it should also be noted in the two way trade between
China and the US much of what the US exports to china is
natural resources. So QE2 will result in these products
all being jacked up in price.


11 posted on 11/12/2010 5:41:59 AM PST by ckilmer (Phi)
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To: Clintonfatigued

Bernanke is actively crashing the American dollar and our economy. Who the hell is pulling this guy’s strings?


12 posted on 11/12/2010 5:52:02 AM PST by Buckeye Battle Cry (Conservatives want a CHOICE not an echo - No more RINOs!)
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To: maggief

The mid-term election victory for the conservatives is what prompts this exceleration in attempts to deliberately bankrupt America and destroy the private sector economy by the socialist, marxist Obama Administration.

Geraldo Rivera tax cut compromise this morning; Raise taxes on those earning $1 million annually from 36% to 39.5%. This will bring in $200 billion, on paper.

Can he be this stupid?

Doing this will disincentivize economic growth. Actually lowering taxes which spurs economic growth cause tax revenues to increase. (my face is blue)

The government does not have a revenue problem, the government has a spending problem. Increasing revenue will not help anyway! THEY WILL JUST SPEND THE INCREASE! (head banging on wall now)

Of course the FOX and friends said none of this.


13 posted on 11/12/2010 5:55:01 AM PST by reaganator
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To: Buckeye Battle Cry

Goldmaan Sach, Commodity brokers


14 posted on 11/12/2010 5:57:02 AM PST by Tempest (I give up)
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To: Buckeye Battle Cry

Kucinich to Neel Kashkari...Who are you working for?

http://www.youtube.com/watch?v=evpFtFfPWP8


15 posted on 11/12/2010 6:30:47 AM PST by Hotlanta Mike (TeaNami)
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To: maggief

Investigate, indict, incarcerate! Rule of Law, US Constitution, things like that...


16 posted on 11/12/2010 6:59:34 AM PST by brushcop (CW4 Matthew Lourey CW2 Joshua Scott/ Kiowa pilots KIA Iraq '05. Thank you for our son's life.)
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To: sickoflibs; Grampa Dave; Justice Seeker; Condor51; maggief; hoosiermama; STARWISE; ...
HARK THE BITTER CLINGERS

Key Dems-no-more offered defenses for loser Obama and the failed Fed. “We applaud the Fed’s action and are especially encouraged by its clear signal that it stands ready to do more,” House Financial Services Chairman-on-the-skids Barney Frank (D-Mass.) and defanged Ways and Means Chairman Sander Levin (D-Mich) said in a joint statement.

Yawn----still bitterly clinging to their failed financial finagling.

Won't the miserable Dem suckers ever learn? They had it all, and blew it.....thanks to loser Obama, and stupid policies like these.

17 posted on 11/12/2010 7:08:01 AM PST by Liz (Marxist O/Care provides two brands of toothpaste---mint and plain.)
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Comment #18 Removed by Moderator

To: coloradan

Banana Ben is working with obama/soros to finish off the dollar so they can create a global currency. We need to bring back public hangings!


19 posted on 11/12/2010 7:17:05 AM PST by FromLori (FromLori)
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To: Clintonfatigued; maggief

“Bush should never have appointed him.”

Or Hank Paulson. Both are progressive tools and fools.


20 posted on 11/12/2010 7:26:37 AM PST by penelopesire (Let The Congressional Hearings Begin!)
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