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Fox
Joined: 04 Mar 2009
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 Posted: Sun Jan 24, 2010 6:45 pm Post subject: White House Warns Against "Playing Politics" RE: B |
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Article here.
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WASHINGTON � White House officials and Senate leaders predicted on Sunday that Federal Reserve Chairman Ben Bernanke will be confirmed for a second term.
White House spokesman Robert Gibbs said a new four-year term for the central bank head is needed to ensure stability in the financial system. Lawmakers would send a bad message to financial markets by "playing politics in any way" with Bernanke's nomination, Gibbs said.
White House senior adviser Valerie Jarrett said Senate Majority Leader Harry Reid, D-Nev., had assured President Barack Obama that Bernanke had strong support among Democrats.
Senate Republican leader Mitch McConnell of Kentucky said he anticipated that Bernanke would be confirmed and would receive bipartisan support. McConnell would not say how he would vote and how many Republicans would vote against a second term.
The No. 2 Senate Democrat, Dick Durbin of Illinois, added, "I think that we're going to have the votes to make sure he is reconfirmed."
Bernanke, appointed by Republican President George W. Bush, is widely credited with helping to prevent the recession from turning into a depression. But his support of Wall Street bailouts has angered the public as the country struggles with double-digit unemployment and soaring home foreclosures.
Obama called Senate allies on Saturday to make his case for Bernanke, whose term ends Jan. 31. The Senate is scheduled to vote on Bernanke by week's end.
Gibbs spoke on "Fox News Sunday" while Jarrett and McConnell appeared on NBC's "Meet the Press." Durbin was on CBS' "Face the Nation." |
I find any attempt to classify completely legitimate opposition to Bernanke's reconfirmation as "playing politics" pretty unsettling. When both Senate party leaders are saying they expect Bernanke to be reconfirmed with a bipartisan majority, it's pretty clear anyone opposing him isn't just playing partisan politics, but rather has actual concerns that need to be addressed. |
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mises
Joined: 05 Nov 2007
Location: retired
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Fox
Joined: 04 Mar 2009
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| Posted: Mon Jan 25, 2010 6:55 pm Post subject: |
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| Tim Geither: rejecting Bernanke would trouble Wall Street. No kidding? It's time to stop making political decisions based on what troubles Wall Street investors. I'm sure they are troubled at the prospect of anything which might obstruct their endless handouts. |
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Fox
Joined: 04 Mar 2009
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| Posted: Mon Jan 25, 2010 7:02 pm Post subject: |
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McCain queues up as a vote against Bernanke.
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�Our country is still facing an economic crisis and while I appreciate the service that Chairman Bernanke has performed as Federal Reserve Chairman, I believe that he must be held accountable for many of the decisions that contributed to our financial meltdown," McCain said in a statement. �Therefore, I plan to oppose Chairman Ben Bernanke�s confirmation for a new term as Federal Reserve chairman.�
Seventeen senators have publicly declared their opposition to reappoint the embattled Federal Reserve chairman, including four Democrats, 12 Republicans and one independent. But Bernanke seemed to have picked more momentum on Monday, and 35 senators officially have committed their "yes" votes � with the most recent support coming from Senate Finance Committee Chairman Max Baucus and Sen. Dianne Feinstein (D-Calif.). |
The stance individual Senators take on this issue is worthy of attention from their constituents. Senator Feingold from my own state of Wisconsin also opposes Bernanke, while Senator Kohl unfortunately supports him. Not sure whether he's corrupt or clueless on this particular issue, but my inclination is to think corrupt. Either way, I never had much liking for Kohl, and frankly I think he needs to be ousted from office. |
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bacasper
Joined: 26 Mar 2007
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| Posted: Mon Jan 25, 2010 7:29 pm Post subject: |
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Still thinking, "If only people would vote the right way...," eh?
All the bastards who voted for the first bailout should have been booted from office as most voters were against the bailout, but what happened? Practically ALL of them were returned to office.
Sorry I'm so cynical, but I have seen nothing to give any hope in the system as it stands. |
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mises
Joined: 05 Nov 2007
Location: retired
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Mon Jan 25, 2010 10:46 pm Post subject: |
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Speaking of playing politics.. How about playing propaganda.
Did any of you know that Andrea Mitchell is married to Alan Goddamed Greenspan?
Here she is shilling for Benny.
http://www.youtube.com/watch?v=__riFXGbkME
The MSNBC business reporter, reporting on Bernanke, is married to Alan Greenspan. I've seen it all. She calls Benny "the innovator". Disgusting. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Tue Jan 26, 2010 8:53 pm Post subject: |
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http://www.huffingtonpost.com/2010/01/26/is-bernanke-hiding-a-smok_n_437509.html?utm_source=twitterfeed&utm_medium=twitter
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A Republican senator said Tuesday that documents showing Federal Reserve Board Chairman Ben Bernake covered up the fact that his staff recommended he not bailout AIG are being kept from the public. And a House Republican charged that a whistleblower had alerted Congress to specific documents provide "troubling details" of Bernanke's role in the AIG bailout.
Sen. Jim Bunning (R-Ky.), a Bernanke critic, said on CNBC that he has seen documents showing that Bernanke overruled such a recommendation. If that's the case, it raises questions about whether bailing out AIG was actually necessary, and what Bernanke's motives were. |
TG and BB are dirty. Obama is a fool for pushing Benny's nomination. The Fed now has a whistle-blower.
http://www.zerohedge.com/article/what-does-senator-bunning-know |
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mises
Joined: 05 Nov 2007
Location: retired
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Fox
Joined: 04 Mar 2009
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| Posted: Thu Jan 28, 2010 3:24 pm Post subject: |
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Very disappointing, but the fact that 30 people voted against him is at least something. Not enough to win the day, but a message that at least some of the Senators involved understood to some degree. It would be nice if they could then go on to make opposition to Bernanke -- and the Fed as a whole -- part of their political platform to drag this issue more heavily into the public eye, but honestly I'm not sure most voters would even know what they were talking about. The biggest issue here was the Obama Administration pushing for his reconfirmation. This is a strong sign that Obama either still doesn't get it, or that he gets it and all his talk about Wall Street is just a magician waving his hand to distract you from what he's really doing.
| mises wrote: |
| Sen. Chris Dodd (D-Conn.), chairman of the Banking Committee, cast the first vote to end the filibuster after spending the last two weeks warning his colleagues about what rebuffing Bernanke would do the stock market. "Warren Buffett was asked on CNBC on this nomination. All he said, 'If you turn him down, let me know in a day or two of advance because I would like to sell off stocks.' Why? 'Because the message to the stock market would be a devastating one,'" Dodd told the chamber. |
It would be nice if we stopped basing our political decisions on the whims of investors. At this point our stock market resembles a small spoiled child. Of course it's going to freak out when you finally start treating it fairly and enforcing reasonable rules upon it, but that doesn't make it wrong. Using the stock market as a basis for political decisions is just letting Wall Street hold our political process hostage. |
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