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Democrats Seek To Reconfirm Bernanke This Friday
And not a day too soon: The Chairman has about 12 days left in his tenure before things get really surreal.
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Dems love Ben and Ben loves them, until he doesn't.
There is no chance in hell that Ben won't be reconfirmed. The Mugabe-economics has to continue or Obama will have to explain himself to his Wall Street chumps
And without HeliBen, who will print the money to fund our deficits?
Surely there's someone else waiting in the wings who is as much a team player as Zimbabwe Ben.
The question is, why not go ahead and replace him? Send a fake message to the populist-rage chumps to provide a little diversion. Or would that also signal to the world a wavering of US stability?
Keeping up with appearances at all costs? Is that why Timmay is still allowed on the playground?
No, when you send a fake message to the populist chumps you have to replace somebody who is just a figurehead, Bernanke has actual power. Plus, any mention of the Fed in the media is bad for them - power prefers to operate in the shadows.
In this case the proper technique is to continue acting like Obama has the power, and continue hyping his little "levy" on the banks (does he have his finger stuck in a dike?).
How can we stop this?
only Minsky will stop it.
The real tug of war between Ben and the administration is likely to be over when to raise the rates.
fillerbuster or printerbuster?
If they don't after today's election,
facing the Fed Audit, it's Kohn,
who with Geithner and Paulson,
sold all those worthless preferreds to
taxpayers via the Treasury...
http://www.federalreserve.gov/newsevents/testimony/kohn20090305a.htm
hmmm, the beard appears to co-operate in a full audit of the fed's role of AIG (using bull shit boiler plate language as Tyler pointed out) but a couple hours after "seeking" said audit, news that the administration is going to try and jam through his confirmation BEFORE said audit (and especially before the testimony of Geithner&Co on January 27th).
Bernanke gives up something (AIG info) in exchange for confirmation votes from some holdout democrats?
Bingo.
they get him thru confirmation, then the only way to get rid of him is impeachment.
unreal that we are going to be raped by Wall Street thru the efforts of this guy for another four years. unreal.
Oh so we get a really good show where bernanke gets to explain in an obfuscated way why he did what he did with AIG and then we get forgiveness and reappointment. Good plan I'm sure it will work.
Forgiveness is a man covered in leaches too weak to yank them off.
tyler, please start a call your senator campaign. I have called mine too many times to count.
All you get is cliche's about healthcare...
+1
Great.
EPIC FAIL.
Kiss the dollar goodbye.Along with the rest of the economy.
no big deal, just put something heavy on your f12 key
Certainly confirm, his mandate as fed head is stable prices, full employment, and what's the other one? Oh well the first two are going so well, what's the difference?
Wow... if you're a Republican senator, you're sitting in the catbird's seat. Vote "no" and people will forget about you voting "yes" 5 years ago. Whatever Bernanke does past confirmation will hang around the Dems' necks like a stinking dead albatross.
You want to hang yourselves for the next decade? Go ahead, here's the rope Democrats... take it. This election in MA is much more than a referendum on healthcare. If the Dems don't understand that a good portion of our anger is also directed at Ben Bernanke, well, here's some more pre-notted rope you can use.
And somehow, I get the feeling that Republicans will find a way to totally mess this thing up... just wait and see.
I happen to agree with you. Right now, the Republicans have a common enemy in the Democrats but once they get back in control, they'll begin to eat their own.
I can't see the banksters tanking the equity market until the confirmation hearings are over and done with.
The water's nice, jump in.
+10
Never foresaw the day when I'd be rooting for the other team . . . but then, the superficial appearance of two teams used to be more convincing.
This election in MA is much more than a referendum on healthcare. If the Dems don't understand that a good portion of our anger is also directed at Ben Bernanke, well, here's some more pre-notted rope you can use.
Very well spoken Assetman.
The Repubs have turned into an embarrassment, with the exception of Romney in my view. He is still a bit more of a statesman and I think the guy has some principles.
anyways, the USA is completely phucked. the Fed and Keynesians will NOT turn back and will go full bore off the cliff unto the Minsky moment.
What kind of principles could the head of large hedge fund fund possibly have? Give Jamie and Lloyd whatever they want and make BS FED chairman for life??
Assetman...current front page headline on obama central, HuffPo
COAKLEY'S POLLSTER: WE WERE HURT BY WHITE HOUSE FAILURE TO CONFRONT WALL STREET
Thanks deadhead...
Now that the Dems are going to enjoin themselves at the hip with Ben Bernanke, whatever policies they might apply to appease the masses may well be more than offset by Uncle Ben pulling more bailout levers.
And the Dems want to push this nomination though by the end of the week. DOH!
I'd suggest they might want to take an extra few days to think about what that endless money printing actually means for their re-election chances.
Given the ongoing and increasingly bitter opposition of HuffPo to Obama, his policies and his obstensible underlings, isn't it time to drop the "Obama Central" moniker? I mean, really. Show me a more consistently critical large audience outlet anywhere else this side of the Rush-Fox complex.
seems there's lots of hand-wringing and hair-pulling over at daily kos.
So despite the attempt of the mass media to portary this race as a referendum on "healthcare reform," it turns out the real problem is Obama, billed as an "agent of change ha ha ha sucker" continuing the Bush/Clinton/[add your favorite adminstration] policy of infinite succor of the Wall Street kleptocrats. Gee, who could've have seen that coming?
Sorry thing is, voting for the GOP to cure this would have been like voting for Goebbels in a Hitler/Goebbels race in 1942 because you wanted to end tyranny and genocide. Republicans/Democrats same coin, heads or tails the difference.
+11
I sent an email to Blanche Lincoln saying I would not vote for her if she voted for Ben Bernanke.
I think it's time to start talking recall election for folks like Mark Pryor who aren't up for election in 2010.
I can't imagine it would be too hard to get a petition signed.
+1
Ben could not be bothered for comment; he is busy ordering liquid-cooled printing presses.
I hope he gets a toomah.
Huge flip coming in November from the Democrooks to the Republicrooks. Big deal. These shitbags are in control of nothing. Puppets on strings. 6 networks cover the puppet show daily.
Every day the debate over the Fed audit continues, more damning proof that an audid would uncover is destroyed. Complete bull shit story.
And these filth actually will try to pass themselves off as the party of the people!
Today the Democrats are quite likely to be handed a body blow by the people of Massachusetts, one that sadly will be cast by an embedded media and seen by an insouciant citizenry as a victory for the Republicans. All that it will really mean is a triumph for a more self-evident Nazism over one perhaps a tad better concealed but just as thoroughbred, nevertheless.
The re-appointment by the Democrats of Bernancke is the ontological equivalent of their having selected Hjalmar Schacht, no more and no less. And there is literally no way apart from strikes and demonstrations of our doing anything about it.
+10
Very well said
I think they should audit his beard!!
His chin is GS getting 100 cents on the dollar, his head is the bare coffers of the taxpayer!!!
So if he wasn't reconfirmed, what would that imply to markets?
a short term downdraft of 3 or 4 handles on the spx, then Don Kohn would print several kazillion greenbacks, give them to the banks and the hedge fund known as Goldman Sachs, who would then gobble up tons of eminis like they were chocolate at a fat girl's convention.
The poop is about to hit ye ol fan. They gotta raise the debt ceiling and stop buying mortgages while paying off fannie and freddie losses with declining tax revenues. Oh, and borrow a couple more trillion while rolling existing debt. Rock meet hard place.
Go, Ben, Go........and no, I don't mean that as a cheer.
So they are basically going to slap us in the face.
And they aren't even doing it with their palm, or the back of their hand (if you get my drift), to add insult to injury!
First and most importantly, write your Senators!
2nd my opinion....so when TD brought up a few weeks ago that he had to be reconfirmed by Feb 1st, I thought, "BS Bernanke doesn't want to be reconfirmed." Then I thought, "Well how bout that, he is getting outta dodge." Too me, that would mean he is a man of actual power, because when it all falls down, we won't find him. So if he gets reconfirmed he is either a) a masochist or b) he actually thinks his plans will work.
Then again, he is probably pathologically nuts, a sadist and masochist, and likes it when, after Bush says "Ben, your beard looks like the lower mandible of a skull. You are our mouthpiece" he gets "slapped" in the face!
more chains you can believe in and the continuation of the obushma administration....
Neither party wants to admit what these events are about:
Consequences of the Mass. Election
Posted by: Bruce Krasting
Post date: 01/19/2010 - 23:43
What a beating the Administration took tonight! I think this is a real life example of a Greek Tragedy. What does it mean? I think it could mean a lot.
since Obama is owned by white wall street he is going to keep his party heading down the tubes to give his master all he can. sorry to use the racial analogy, but I'm afraid it fits. The good negro in the white house doing all he can to please his white masters leading his party into ruin by supporting crooks such as bernanake, geitner, Blankfien, et al.
The idiots don't want to believe these upsets are about the finance industry. Because if they did they would have to do something and that would mess up the lobby money. So they keep doing everything they can to get you to think the election results are about something else. Are they so stupid that they think they can tell us why we didn't vote for them. They do everything they can to tell us what it's about, instead of admitting what it's about. It's about a government that screws the people for the benefit of the connected. It's not aout jobs. we were prepared for a depression if that got us on the right path once again. We wanted change and we got more of the same crooked behaviors
The Janitorial Presidency.
"Cleanup on aisle 4."
It's too late for them to prevent the awakening of mass consciousness. They've brought it on themselves to boot by destroying the country in their zeal to remove jobs.
Underfed people complain a lot more than the well fed ones zombied out on American Idol.
http://funy1.blogspot.com/2010/01/fraud-in-monetary-system-who-stands-to...