Ben S. Bernanke won Senate approval for a second term as Federal Reserve chairman, as supporters who credited his actions to stem the financial crisis and recession overcame opponents saying he failed to prevent them.
The Senate voted 70 to 30 to confirm the 56-year-old former Princeton University professor, the most opposition since the chamber started confirming Fed chiefs in 1978.
I am disappointed. I just don’t like the guy and would of loved to see him booted out.
I understand why he stays. To toss his ass out would be to admit that he failed to prevent and in fact by his misguided policies enabled the ‘crisis’. What was the government doing to protect society from Big Bad Bank Business during this same time frame? Nothing as well. They don’t want to face up to there own lies.
In November, we get one vote, one moment to express ourselves. I say, throw out all the bums.
Barry Ritholtz Says:
I thought of Bernanke as part of Hollywood Squares — I’ll takle Bernanke to block … Larry Summers from getting into that position . . .
A maiden needs to be thrown into the volcano. We now know it’s not Bernanke… Geithner is malleable… Someone behind the scenes– Rubin or Summers? We can basically see in the last two weeks a tidal shift in POTUS position on banks. Volcker who was in the background with a muzzle has now been dusted off and brought into the sun. R or S will go… Geithner will say/do whatever he’s told to do. He’s a career guy, not a politician. I question whether he has any thoughts of his own at all. When he testifies, he has the physicality of a beat child… only one with years of subservience has that look.
Bottom line, someone will be going soon…
Someone needs to upgrade E Warren to a position closer to POTUS too. But that is another topic.
Scott Pelley interviews Geithner on 60 Minutes. Worked for BB.
He speaks Mandarin, he tells us how he worked at Gusanoz Mexican Restaurant to help pay for Dartmouth, they walk along the tree lined streets of Larchmont and shows us the house he couldn’t sell, he shows us he can juggle, he wears suspenders sans tie with his sleeves rolled up, we see he’s a human with feelings and an insatiable desire to help the American people.
“I am 100% committed to getting the American taxpayer 100 cents on the dollar for their investment in our nation’s financial system” tick, tick, tick, tick, tick….