All You Need To Know: Greenspan Endorses Bernanke, Total No Votes Now 14

Tyler Durden's picture

Just in case you needed a good analogy to the Predator recommending an acid-dripping Alien as your next house pet, here comes the one and only Maestro saying Bernanke is doing a swell Job. In the meantime James Inhofe (R.OK) is the latest vote against Bernanke. Most recently updated table below. In the meantime, and much more importantly than what some discredited, incompetent fossil says, Tennessee's Lamar Alexander is a Yes.

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Hammer59's picture

Oh yeah, f***king GREENSPAN!  The laize-faire Ayn Rand deciple moron who caused this whole shitstorm in the first place.

faustian bargain's picture

He betrayed laissez-faire long ago. Hate on Ayn Rand all you like, but don't call Greenspan a laissez-faire capitalist or even a dedicated follower of Rand.

Miles Kendig's picture

Rand was a ticket punch for Greenspan and nothing more.  A way to get noticed and move on up like George Jefferson.

Miles Kendig's picture

Thanks, added to my reading list

faustian bargain's picture

I've listened to an audio version, maybe it was just a lecture summary of the book. Really interesting.

ghostfaceinvestah's picture

A must read, as is The Case Against The Fed by Rothbard, you can get the pdf of that one for free online.

Shameful's picture

If you are calling Greenspan laissez-faire then maybe you should do yourself a favor and pick up a dictionary.  His actions do not coincide with free market capitalism in any way shape or form.  Just because somone claims to beleive in somehting or do something does not make it so.  I'll say I can bench press a truck, that doesn't mean I can do it.

glenlloyd's picture

+1, he's so far away from free market it isn't even funny. We haven't had anything resembling free market for decades...it's all phony.

CB's picture

u need to go to the spellin rheum.

buzzsaw99's picture

I'm so proud of James lately. :beams:

Miles Kendig's picture

Of course Alexander said yes.  He does exactly what McConnell tells him to do.  Exactly.  As a Tennessee resident I can assure everyone here that Lamar would vote to put Marx in the job if McConnell told him to just as Corker before him on this issue.  The new republican campaign motto.  Big banks today.  Big banks tomorrow.  Only big banks forever.  Leave it to the republicans to find a way to be even dumber than Obama.  The next thing we'll hear is Palin on Fox saying that the TBTF institutions need all the money the government can give them since it all supports free enterprise.

ArkansasAngie's picture

Are any of the 14 yes votes up for election this year?

I'm working my two Senators and throw the guantlet down to anybody in Tennessee.  Come on ... make Alexander think again.

Careless Whisper's picture

I'm thinkin' if Harry Reid decides NO then you can put a fork in it.

Anonymous's picture

Bennet (CO) is up for election... he took the place of Ken Salazar. He may not even win his primary.

ghostfaceinvestah's picture

I need a cross list of Yes votes who are up for reelection this year.

Then a list of all their opponents, so I will know where to send my money.

BoeingSpaceliner797's picture

Yes votes thus far:

13 (Akaka, Alexander, Brown, Corker, Dodd, Durbin, Johanns, Johnson, Kohl, Menendez, Reed, Tester, Warner) to 5 (Bayh, Bennet (CO), Bennett (UT), Gregg, Schumer), not running for reelection in 2010 vs running.  I can't help you on the opponents as I don't believe that is decided yet. 

Gregg is from my state.  Looks like he won't be getting my vote.

 

edit:  DH posted below that Reid has confirmed a yes vote.  if so, that would be 13 to 6, not running vs running.

ghostfaceinvestah's picture

Luckily I am pretty sure Gregg is not running for reelection.

 

Good riddance, I hate that guy.

BoeingSpaceliner797's picture

You are correct twice.  14 to 5 and he is terrible.

BoeingSpaceliner797's picture

If you meant the 14 no votes, it is 8 (Boxer, Feingold, Bunning, Crapo, DeMint, McCain, Shelby, Vitter) to 6 (Dorgan, Merkley, Hutchinson, Inhofe, Sessions, Sanders), running for reelection in 2010 vs not running.

Mr Lennon Hendrix's picture

Greenspan said on meet the press that stocks are the way to go and we know what BS bernanke has in mind (inflation for the uninformed).  Not that anybody can do anything about the wall of liquidity; rate hikes of 3% per wouldn't even quell the shitstorm set to commence in a few months.  

nhsadika's picture

Anyone who does the bidding of the banksters, unleashes a bubble never ever seen in the history of the world...allowing for widespread fraud and crime and ulimately theft NEVER SEEN BEFORE IN HISTORY...

and then claims that he made a tactical mistake is a complete FRAUD himself.  Nobody on the planet believes that a central banker (who prides himself on reading Ayn Rand and has written missives on Gold) would make a itsy bitsy mistake like that.  He WAS AN ENABLER AND THE MAESTRO AS YOU SAY.   

 

ALAN GREENSPAN IS A MENACE TO SOCIETY.  That the man has the nerve to show his face in public shows how little backlash there is against men like himself which have created a debt monster.

 

xamax's picture

The so called "Maestro" is  bored and looks for a new job:

Co-Pilot in the Helicopter, Ben staying of course Chief Pilot !

Anonymous's picture

Greenspan is such an idiot that he still believes someone still considers him a smart guy. His support to Benron is like a bear's hug.

Anonymous's picture

Yeah, let's boot Bernanke and have Obama and Emanuel pick our new Fed Chair.

Unscarred's picture

Given that a Greenspan endorsement for Bernanke is just a reaffirmation of Greenspan himself, how pissed off is Ben about that one?

deadhead's picture

Keep writing to your Senators this week.

I have written again to Schumer (he's a yes and would be the last Senator to change his mind) and Gillibrand (undecided).  I have no clue if Gillibrand even knows what is going on. 

YourAverageDebtSlave's picture

Just wondering, but has there ever been a Fed Chief that didn't get Congress's confirmation?  Turbo Tax Timmy got confirmation which makes me think this is all a bunch of posturing and the yeas and nays have met in private to make sure the votes go Ben's way.  Speaking of Turbo Tax Timmy and as stated earlier, I'm not sure if I really want to see who Obama would pick to replace Ben if he gets the opportunity. Let's not forget Ken Lewis is looking for employment.

Why doesn't Congress focus on auditing the Fed versus trying to replace one crook with what is sure to be another?  I like how the audit the Fed bill is still sitting in the House Financial Services Committee.  All a bunch of useless puppets.

Regardless of my rants, it looks like the Fed is reminding DC who is in charge with what the market has been doing the past 3 days.  For all I care let the thing crash and let's let the pain start so we can get to the restructuring.  How long are we going to delay the inevitable? 

MarketTruth's picture

Thomas Jefferson warned of the damage that would be caused if the people assigned control of the money supply to the banking sector, "I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. This issuing power should be taken from the banks and restored to the people to whom it properly belongs. If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered. I hope we shall crush in its birth the aristocracy of the moneyed corporations which already dare to challenge our Government to a trial of strength and bid defiance to the laws of our country"

--- Thomas Jefferson, 1791

JR's picture


My political viewpoint is that the images of Obamacare and Wall Street are getting worse every day and that the senators who are afraid for their jobs are getting more afraid every day. And if the vote for Bernanke approval had been today (instead of being delayed because Reid suddenly had a "procedural deadline") it would have failed. Otherwise the Senate leadership would have had the vote right away because they know support is eroding. So the undecideds at the moment are not approval votes, probably telling Reid if you have the vote today we’ll vote against Bernanke. Reason for the eroding votes and the delay: Massachusetts.

The healthcare bill is more than 1900 pages and practically no one knows what’s in it. Usually in such a case, most people take the lead of their leaders: if you like Pelosi and Reid, you’re for it. If Rush says it’s bad and you like Limbaugh, you’re against it. So, then, what happened in Massachusetts where nearly all voters are Democrats or leaning that way? They didn’t follow their leaders, what the Democrats wanted them to do—because the Obamacare story became a little unbelievable--that the government’s going to increase coverage for all these people, and not only will it not cost anyone more, we might all actually save money!

It’s like Hitler Finds Out There Is No Santa: he finally had to come to terms with himself, admitting he always knew there was something wrong. "It would be hard for one guy to fly around the world in one night."

Rasmussen today: Obama, Strongly Approve—25%; Obama, Strongly Disapprove—43%--one year after election.

deadhead's picture

Harry Reid just said he is a yes.

 

SV's picture

If so, a complete SHOCKKKAAA I tell you.

I put my two cents into Kyl the other day.  We'll see if he can smell that breeze from MA that is called discontent.

deadhead's picture

obviously, Harry can't smell it.  he's such a little pussy that he doesnt even take a leak without checking in with Rahm and Obama.

This clearly indicates that Obama is still sticking with Bernanke.

I may have to come up with one of my ding-a-lings on this but I'm pissed off now.

 

 

Miles Kendig's picture

Reid is another fine example of a senator that is there to do exactly what he is told to do.  Just like my two, Alexander & Corker.  That's how Reid got the job to begin with.  The democratic caucus knows that they have little to fear from not toeing the line.  I am just wondering what makes McConnell so intimidating to his caucus? After all, he seems to have more in common with the nemesis of my avatar, Myerson or with Tom DeLay than with Dick Armey or Lyndon Johnson.

DH - Ya.  If Reid has gone on record tonight then we know the deal....  Now if the republicans can get their act straight they might be able to really destroy the democrats.  All they need to do is put forward a real plan on how to balance the budget, reduce the deficit and restore the concept of free markets to our national life.  Do they have the stones?  Time to watch the leaders of the republican party, Sarah Palen, Rush & Fox to find out.   However, if she didn't know that there are two Korea's or that there was a WWI & WWII then I suspect that she will just use her education in journalism and read whatever is up on the teleprompter in front of her, just like Obama does.

deadhead's picture

there is still room for gamesmanship and movement because of the holds....a 60 vote yes count is needed to move ahead with the vote....

if they don't get the 60, there is no vote and essentially obama would have to yank the nomination or bernanke would have to withdraw.

there is a chance to fry bernanke on this move but i am a bit astounded that Obama is still supporting bernanke (white house confirmed this late today) which is amazing in light of the events of the last few days.   if the pressure keeps up over the weekend, obama could be forced to back out....obama loses politically with his base BIG, BIG time by sticking with Bernanke...from a political point of view, I am actually shocked that he is sticking with Bernanke....all i can say is that the deal is (as it has been since he reappointed bernanke back in the dog days of summer) that bernanke has agreed to buy up to one kajillion dollars worth of treasures and another quadtriplebazillion in mortgage paper.

fwiw, i've been a registered Repub for almost 40 yrs, Repub in the old fashion of less gov't, fiscal conservatism etc, but probably i'm more of a libertarian.  that said, the crop of repubs starting with that disgusting fuck tom delay through the current crew is some of the sorriest and stupidest fucks i've ever seen in my life.  the only repub that i would vote for now is romney.

and as far as Palin goes, i cannot think of one other repub who embarasses me more than she does.  she is absolutely, unequivocally, one of the stupidest people that i've seen in public office.

rawsienna's picture

I think Nancy Pelosi is dumber than Sarah.  Harry Reid is not far behind. 

Miles Kendig's picture

DH - Where I come from the the old "Rockefeller Republicans" got merged with what I call the libertarianism of the west.  This merging is being called social libertarianism.  I have been a republican all my life who has been effectively turned into an independent ever since THE convention.

I am now certain that Obama is a pure nominee and will not care if he gets reelected or what his place in history will be.  Obama, like Bush before him is gonna do exactly what the banks want, no matter the consequences.  In fact I see little real difference between them.  Patriot Act.  Check.  Trillions in bank welfare.  Check.  Unbridled foreign entanglements.  Check.  Major move to a big government mama policy on healthy care, Bush with MEDICARE Part D, Obama with whatever that mess is called.  Check.  "Deficits don't matter".  Check.  Unlimited unlawful search & seizure.  Check.  I could go on and so could you DH.  Fact remains that I will never again vote republican unless and until they pass and implement a balanced budget amendment as promised in '94.  (Good work Newt & Co.)

Rather than return to it roots the republican party has embraced lunacy in its purest form through their total commitment to a big bank policy and doing whatever it takes to kiss their masters ass conflating loyalty to the institution that is the party and our founding documents with loyalty to those whose ass they feel the need to kiss.  The republicans are attempting to say that demanding respect rather than commanding it is OK since we are all too stupid to know the difference.  Following this party policy the party is going to tell us that they had to support the banks and major socialized medicine, back to MEDICARE pt D, but that it is the democrats that are the socializer of medicine and the proponent of big banks bail-outs evil doers and so we MUST support them.  To which I say PASS THE BALANCED BUDGET AMENDMENT and produce 2% surpluses to pay down the debt.  I am also grown enough to know that aint gonna happen.  So, in essence this Bernanke confirmation is THE litmus test to see if republicans are going to rediscover what it means to be a republican or if the party will continue to act like democrats....

One thing is certain DH.  The republican party could give a shit about what I know as western conservatism and would rather concentrate on what is on the teleprompter in front of them... While using the NSA to read my e-mail and the FBI to search my home & records, the TSA to seize my IPod & my mail getting routed out if the country so it can be opened and searched upon reentry into the country because I dare to say what I have said here. The very definition of abuse of power.

BTW, from my spot I would rather cast a ballot for Blankfein than Romney because Blankfein would provide continuity and Romney would just sell the nation to private equity completing the deal.

deadhead's picture

I will be hard pressed to vote Repub again as well and may just hit the levers for third parties, which i have done many times.

I gotta disagree with you on the blankfein v romney matter.  I could be wrong, but I think Romney is a bit better than that.  We will likely have a chance to see as at this stage of the game, Mitt is the only adult in the Repub camp.

Hephasteus's picture

I saw a humerous speach by a Republican that sorta misanalyzed MA.

Boy I guess when you've been a politician too long you really get that believing what you want to believe thing ingrained in you pretty deeply.

ghostfaceinvestah's picture

Reid must know he is a goner anyway this Nov.

Have they picked his opponent yet?  Hopefully someone worthy of my donation.

Miles Kendig's picture

Ghost - We don't have to concern ourselves with political donations any more, corporate America will handle it in spades.

Anonymous's picture

Better corporate America and free enterprise in the open arena of ideas than the covert collectivist spawn of evil and their progressive superstitions of superiority.

Miles Kendig's picture

You have been consuming too much of the Gerber anon.  Try moving to solid foods when you are able.  I suggest you familiarize yourself with the Constitution of the United States.  No where in that document does it say that corporations are people or that corporations have the same standing as individuals before the bar of justice.

Anonymous's picture

danny tarkanian

Miles Kendig's picture

The basketball coach's son?

Chartist's picture

Intrade has Bernanke at a 72% favorite to be reappointed.

MarketTruth's picture

Bernanke LITERALLY belongs in jail due to treason. The Founding Fathers wrote into the USA's most precious documents upon founding the USA that anyone who devalued the country's currency would be guilty of TREASON and as such face the DEATH penalty. Now have a look at the value of the USD during Bernanke's position at the Federal Reserve. Case closed, Bernanke literally deserves the death penalty for devaluating the dollar.

This is real and a very serious crime against the United States of America.