Bernanke confirmation in doubt?

[Paulie]

washingtonpost.com

WASHINGTON (Reuters) - Senator Barbara Boxer on Friday became the third Democrat in two days to say they will vote against the confirmation of Ben Bernanke for a second term as Federal Reserve chairman.

"It is time for Main Street to have a champion at the Fed," Boxer said in a statement. "Dr. Bernanke played a lead role in crafting the Bush administration's economic policies, which led to the current economic crisis. Our next Federal Reserve Chairman must represent a clean break from the failed policies of the past."

Dodd and Gregg say they think he'll be confirmed, and I kind of doubt he won't be, but it's nice to at least see that he's not considered automatic.

Not that I would expect any replacement to be any better.

 

[Kevin_Kennedy]

There's really no reason to not reappoint him, other than punishment for his role in creating the recession. Anyone who takes his place will either be the same or worse.

 

[Paulie]

There's really no reason to not reappoint him, other than punishment for his role in creating the recession. Anyone who takes his place will either be the same or worse.

Well he was on the board during '03 and '04 when rates were left way too high, and his part in that should certainly be considered when making the decision to vote yes or no on confirmation.

But you're right, the replacement would be no better.

It's really a shame these guys can't man up and at least take SOME responsibility for this mess. It's LUDICROUS to try and claim the Fed had nothing to do with this. Even Toro admits they were the primary cause.

People with actual real knowledge of economics can see the Fed's role in the recession.

 

[Neubarth]

Bernanke has no blame in the three bubbles bursting and creating this horrible Depression. He has done everything that he can to help ease the crisis. He does not have magical power.

 

[eots]

BERNANKE...Is a treasonous criminal

 

[Kevin_Kennedy]

Bernanke has no blame in the three bubbles bursting and creating this horrible Depression. He has done everything that he can to help ease the crisis. He does not have magical power.

He could have argued against the foolish monetary policy the Fed was pursuing from the very start. Of course, had he done that he never would have become Fed Chairman.

 

[xsited1]

washingtonpost.com

WASHINGTON (Reuters) - Senator Barbara Boxer on Friday became the third Democrat in two days to say they will vote against the confirmation of Ben Bernanke for a second term as Federal Reserve chairman.

"It is time for Main Street to have a champion at the Fed," Boxer said in a statement. "Dr. Bernanke played a lead role in crafting the Bush administration's economic policies, which led to the current economic crisis. Our next Federal Reserve Chairman must represent a clean break from the failed policies of the past."

Dodd and Gregg say they think he'll be confirmed, and I kind of doubt he won't be, but it's nice to at least see that he's not considered automatic.

Not that I would expect any replacement to be any better.

Boxer actually said something that made a little bit of sense. I'm gonna write this down.

(BTW, he'll be confirmed.)

 

[Paulie]

Bernanke has no blame in the three bubbles bursting and creating this horrible Depression. He has done everything that he can to help ease the crisis. He does not have magical power.

Bernanke most certainly does hold some blame. It isn't just the chairman of the Fed who makes decisions. Bernanke sat on the board before he was chairman, and holds as much responsibility as any other board member who voted to keep rates so low in '03 and '04 when the housing market was already starting to heat up.

There's no excuse for that kind of mishap.