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Bernanke Cloture Vote To Take Place At 3:20 PM, Reconfirmation Vote To Follow Shortly
More change you can believe in. Hopefully the NYSE can get their house in order in advance.
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Seems mighty optimistic of Mr. Reid - just get past
that annoying cloture vote and then we'll skate
through the reconfirmation.
Am curious to see the markets reaction to the chief printer's confirmation
Call me crazy (especially after a day like today), but they've gone up this far on pure quantitative easing. I can't imagine the reconfirmation of the king of QE would send them anywhere but up.
NO shame is manipulating the closing price. They could at least do it after the close...
Dont they need 30 hours of debate even with the Cloture vote
yes, that is correct. after that, the vote can be taken and simple majority rules.
The 30 hours of debate can be leapfrogged by a unanimous decision to proceed to the final vote.
If the cloture vote passes, BB is in for another four.
The only silver lining I can see is that when this high rise condo of cards comes falling down, he'll be holding the bag. But then again, so will all of us taxpayers.
thank you for info on the leapfrog.
it would seem unlikely that a unanimous vote could be achieved to leapfrog.
The bernankenstein bounce is imminent.
Well, it was either today or tomorrow before his term expires, right?
Market collapse is starting to look likea direct threat to Senators from Wall Street. Now they can say "Look and see how disturbed and scared the markets are about the prospect of Ben not being appointed"
Either that or he does not have the votes
+1
Market knows its not a sure fire deal on Ben. The votes may still be to close to call.
This is one way to make sure the "print master" gets his best shot is by closing the Gap
on the ES around 1067 & below 10K on the INDU, to get the powers nervous enough to make use of their Ipads.
As ironic as this statement will sounds why do I always feel like "justice is being done" when the markets collapse?
Perhaps I just have to much faith in the sacrifice of Americans from the revolutionary war, world wars to believe we are this common sense retarded as a collective intelligence.
[The people are about to shoot Bart at his opening speech—until he takes himself hostage]
Bart: [in a gruff voice, hauling himself by the collar] Hold it! The next man that makes a move, the nigger gets it.
Dr. Johnson: Hold it men—he's not bluffing! [all but Howard Johnson drop their guns]
Dr. Samuel Johnson: Listen to him, men; he's just crazy enough to do it!
Bart: [still gruffly, to Howard] Drop it, or I swear I'll blow this nigger's head ALL OVER THIS TOWN!
Bart: [pickaninny voice] Oh, Lawdy-Lawd, he's desp'at! Do what he say, do what he saaaayyyy... do what he saaaayyyy... [Howard slowly drops the gun]
[Bart slowly moving towards the sheriff's office, still holding himself hostage]
Harriet Johnson: Isn't anyone going to help that poor man?
Dr. Samuel Johnson: Hush, Harriet! That's a sure way to get him killed!
Bart: [pickaninny voice] Oh, Oh he'p me! He'p me! He'p me! Somebody He'p me! He'p me! He'p me! He'p me! [gruffly] Shut up! [covers his mouth, pushes into the office] Oh, baby, you are so talented. And they are so dumb!
Replace "Bart" with "Ben" and you got it.
...unexpectedly...
Great analogy. Love that movie.
His kid's zombie book is pretty good too.
Wouldn't a September 29, 2008 redux be an "interesting" surprise?
Yes it would. Too bad we don't have an accurate tell like The Slosh Report at that time right now.
Mr. Bernanke needs 60 votes to overcome a potential filibuster in the procedural vote. The final vote would require only a majority for the Fed chairman to be confirmed again.
The Fed chairman is now only seven votes shy of the 60 needed to overcome the procedural vote. According to a poll of senators conducted by Dow Jones Newswires, 53 lawmakers will vote for Mr. Bernanke, 20 will vote no and a further 27 are either undecided or haven't responded to the poll.
http://online.wsj.com/article/SB1000142405274870487890457503102010505560...
Well... quite frankly, I think the Reid knows he has the votes.
I can pretty much guarantee you that both Obama and Bernanke had to concede quite a bit politically to sway some of those undecided votes.
That not a serious issue for Ombama, as political horsetrading is the nature of the office.
However, it is a big issue for Bernanke, as any pandering the to Congressional elite makes the institution that much more politicized. It's bad for the rest of us long term, but I would assume that Bernanke will continue not seeing the asset bubbles of his own making.
But of course Bernanke sees the asset bubbles...he is The Bubble Maker. Indeed, he is the destroyer of worlds.
Bernanke's lobbying of Senators has put the final nail in the coffin of so called "fed independence".
my new oxymoron is Fed Independence.
You are correct, sir!
What I find funny is that the Fed and their friends have based their fear-mongering campaign based on the notion Central Bank "Independence".
What they have been aiming for all along for is Central Bank "Autonomy". Wouldn't you love to work at at place where you didn't have take any responsiblity for your own actions... and get paid for it????
What I find funny is that the Fed and their friends have based their fear-mongering campaign based on the notion Central Bank "Independence".
The irony is truly and genuinely overwhelming to my tiny brain. All I can do at this juncture is to laugh, shake my head, a couple of face palms......
WASHINGTON (MarketWatch) -- Senate Majority Leader Harry Reid said Thursday that he is seeking agreement to allow for the final vote on Federal Reserve chairman Ben Bernanke's nomination to a second term to take place later in the day. On the Senate floor, Reid said he is asking opponents of Bernanke's nomination to waive the requirement for 30 hours of debate between a procedural vote and a final up-or-down vote. A few hours later, a spokesman for Reid said no agreement has been reached yet. The test vote on Bernanke is expected this afternoon. Bernanke will need 60 votes to clear this hurdle. The second vote requires a simple majority of 50 Senators. Analysts now think Bernanke has the votes he needs to be confirmed
Bernanke is in.
This deal was sealed irrespective of any Congressional decision-making.
The Corporate Reserve Bank is now the only vote that is counted, just like Stalin said.
Main Street can burn in hell.
The chairman's overconfidence knows no bounds. Unfortunately, there seems to be nobody in power to seriously challenge this guy. He has devastated the American middle class since the beginning of the Bear Stearns debacle. Should his reconfirmation be a done deal, I am afraid that the light at the end of the tunnel will be in full view for all to see.
All averages in the green by 3:45 when Bubbles gets his 60 for cloture.
Mundus Vult Decipi De Bene Esse
bereave
Thankse!
Just bought some near month Citi calls. That POS is gonna explode up once the puppet is reconfirmed in a spectacular fireworks show of support from the Cartel, "I told you Bernanke is good for the economy!"
Dollar down, everything else up in... T minus (a few hours).
This news is, of course, the reason for the S&P500 being exactly at the critical 1080 level as of now (12:30pm EST).
Boxer is currently explaining why she won't vote for Benanke.
http://www.c-span.org/Watch/C-SPAN2.aspx
Jim Demitt R-SC is the Man!
"Don't confirm Bernanke until we Audit the FED."
Mundus Vult Decipi De Bene Esse -
Mundus Vult Decipi ergo decipiatur
Graviora manent