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The Tide Has Turned: Barbara Boxer Joins Feingold And Many Others Opposing Bernanke
The only question now is whether it is time for Bernanke to resign instead of suffer the indignity of the vote down. From HuffPo:
California Democrat Barbara Boxer has become the latest senator to
oppose the nomination of Ben Bernanke to a second term as Chairman of
the Federal Reserve.Boxer's opposition, which she announced in an exclusive statement to
the Huffington Post, is a blow to Bernanke. Boxer is no firebreather on
economic issues, but considered a more mainstream Democrat from a state
that was considered comfortably blue -- until Tuesday's special
election in Massachusetts, that is."I have a lot of respect for Federal Reserve Chairman Ben Bernanke.
When the financial crisis hit in late 2008, he took some important
steps to prevent what many economists believe could have been an even
greater economic catastrophe," said Boxer."However, it is time for a change -- it is time for Main Street to
have a champion at the Fed. 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."
And this came in earlier:
More sharks are circling around Ben Bernanke's nomination for a second term as chair of the Federal Reserve.
On Friday morning, yet another Senator -- Russ Feingold (D-Wisc.) -- announced that he will vote 'nay' on confirmation.
"A chief responsibility of the Chairman of the Federal Reserve is
to ensure a sound financial system," read a statement issued from the
Wisconsin Democrats office. "Under the watch of Ben Bernanke, the
Federal Reserve permitted grossly irresponsible financial activities
that led to the worst financial crisis since the Great Depression.
Under Chairman Bernanke's watch predatory mortgage lending flourished,
and 'too big to fail' financial giants were permitted to engage in
activities that put our nation's economy at risk. And as it responds to
the crisis it helped to usher in, the Federal Reserve under Chairman
Bernanke's leadership continues to resist appropriate efforts to review
that response, how taxpayers' money was being used, and whether it
acted appropriately. When the full Senate considers his nomination, I
will vote against another term for Chairman Bernanke."Bernanke's term as chairman expires on January 31, and as of now,
Senate Democratic leadership isn't sure if they have the votes to get
him back into that post. Opposition to his confirmation has been driven
by a strange-bedfellows coalition of progressives and movement
conservatives -- most of whom blame Bernanke for missing the looming
financial crisis or are highly skeptical of the Fed.
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I wish they bring in Volker for the job.
Indeed, but at least he has Bama's ear and perhaps he will suggest a replacement for Helicopter Ben.
Elizabeth Warren
+1
She is good but She is too emotional.
Stoic, arrogant and condescending (although funny when directed at Congress) has worked out how? I don't know Warren but breaking the mold surely can't be worse. Or can it?
Since we're on the topic: Gaspar Llamazares:
http://mashable.com/2010/01/17/fbi-bin-laden/
Yes! I agree on Volker!
The Great Incumbent Panic of 2010.
They have good reason to be panicked, a lot of them are gonna be looking for jobs come December. THEN they will care about the unemployment rate.
I got this email once, so they don't really need to worry:
For too long we have been too complacent about the workings of Congress. Many citizens had no idea that Congressmembers could retire with the same pay after only one term, that they didn't pay into Social Security, that they specifically exempted themselves from many of the laws they have passed (such as being exempt from any fear of prosecution for sexual harassment) while ordinary citizens must live under those laws. The latest is to exempt themselves from the Healthcare Reform that is being considered...in all of its forms. Somehow, that doesn't seem logical. We do not have an elite that is above the law. I truly don't care if they are Democrat, Republican, Independent or whatever. The self-serving must stop. This is a good way to do that. It is an idea whose time has come.
Have each person contact a minimum of Twenty people on their Address list, in turn ask each of those to do likewise.
In three days, most people in The United States of America will have the message. This is one proposal that really should be passed around.
Proposed 28th Amendment to the United States Constitution:
"Congress shall make no law that applies to the citizens of the United States that does not apply equally to the Senators and/or Representatives; and, Congress shall make no law that applies to the Senators and/or Representatives that does not apply equally to the citizens of the United States".
You forgot to include another perk. They have two physicians on staff 24/7 exclusively devoted to them.
So how is it that the Federal Reserve can operate completely outside the law, change it on the fly, and pick and choose favorites?
That to me is above the law.
I think it's reasonable to argue that the Fed is, in fact, the Fourth Branch of the US government, set up to serve the interests of its constituents. It certainly looks like it is, no? Yes, and while the People may appoint judges, and enjoy the fiction of appointing, through their duly elected representatives, the Chair of the FRB, let's face it, it is pretty remote from The People, not particularly responsive to their whims (heralded as a good thing by the opponents of things democratic), and incredibly responsive to the needs and whims of its own constituents, whose interests are its real charge.
The real news this week was the Supreme Court decisions sweeping away campaign finance restrictions on corporations, who now can hand money directly to fund a candidate's race. Think they will pick and choose where to throw that money? Democracy Inc. is unleashed. Be afraid, be very afraid, and don't believe the idiots like Gingrich who are making the talk radio show circuits trumpeting this as a victory for the middle class - lotta gall there, I'd say.
Newt's biggest political triumph was passing the balanced budget amendment he and his associates promised in the Contract With America. Who knows what kind of trouble we would be in if the republicans had failed in this all important effort....
In addition, new laws should go through a 6 month trial period firstly applied ONLY to the Senators/Representatives, before rolling them out to citizens.
I'll summarize for you: "Corruption among elected representatives shall heretofore be banned."
We need to start repealing laws long before we need to create new ones that just unleash more gargoyles. New laws are incrementally removing our freedoms: see Fabian Society:
http://en.wikipedia.org/wiki/Fabian_Society
In my view, the 14th, 16th, and 17th are inherently dangerous to a free people and should be abolished - look closely at them. Down with Big Brother!
We do not have an elite that is above the law. ROFLMAO
In case you missed it there is a policy in America over at least two administrations that specifically excludes numerous persons from the rule of law that is commonly referred to as judicial exclusion. This policy has best been defined by Obama advisor Cas Sustein. Just so ya know this policy has been effectively expanded to cover the executives at the institutions covered by the National Security Executive Orders signed by both president's Bush & Obama.
Prosecuting government officials risks a “cycle” of criminalizing public service, [Sunstein] argued, and Democrats should avoid replicating retributive efforts like the impeachment of President Clinton — or even the “slight appearance” of it.
http://jonathanturley.org/2008/07/21/obama-adviser-cass-sunstein-rejects...
Cheers!
+1
Yes, you hit the nail on the head ghost. Let me ask you, if Ben goes, will you sell your gold (or perhaps a portion of it) and buy back at a later time?
throw every more than 2-term senator irrespective of the party affiliation out of the office
This is funny though. Democrats are now opposing Bernanke...and declaring that The Mighty Helicoptor is W incarnate. Will the populace forget that Ben was renominated a few months ago by the savior of the Democrats BHO???
This is not funny---its 100% calculated.
The dems will try and blame the slow economic recovery on Bernanke and by default GW Bush.
It's all calculated to allow them to run television ads in the fall saying look what we did to help the economy recover from the last 8 (albeit 9) years. We opposed Bernanke and we passed stimulus bill #4.
And you are correct---the average dumbass American will not remember that Helicopter Ben was renominated by President Soetoro a couple of months ago.
Baucus said he will vote for Bernanke. Guess he thinks he is safe for another 5 years. Can Senators be recalled? He needs to go. I can't believe a state like Montana would vote a crook like that in office.
I called Ohio Senator Voinovich, who is retiring from office after the completion of this term, and his staff indicated that he would indeed vote for Helicopter Ben's reconfirmation. Apparently when you are stepping out the door of politics you can also step on the face of the constituents. Voinobitch voted for the bailouts and will not cosponsor the audit the Fed legislation in the Senate.
I asked the staffer how could the Senator reconfirm someone without knowing the details of $23.7 Trillion on outlays to the TBTF banks? Complete silence is all that followed until I said I was glad George was retiring and good riddance to the NWO piece of trash. FUCK THESE CLOWNS IN THE CORN HOLE.
I asked Sherod Brown to vote against him, He was noncommital, said Ben had flaws but did what he had to.
I think Ben looks alot like Jim Layhe on the Trailer Park Boys.
If Bernanke is not reconfirmed, which seems likely now, who will President Soetoro nominate?
God Help us if Paul Krugman or a descendent of his or Paul Samuelson's is made.
Unfortunately, I doubt President Soetoro will nominate anyone else unless they studied under these jokers at Princeton, Harvard, or MIT.
Is Gideon Gono available?
+1
One hundred trillion dollars of full faith and credit.
Krugman wouldn't take the job, I'd bet on that.
How many votes does Bernanke need?
I nominate Ron Paul as the next Fed Chairman so he can fire everybody and light a match on his way out the door.
Amen!
+100
+1000
The Gartman Letter: THE US$ HAS TURNED RATHER SHARPLY FOR THE WORSE, and we shall mince no words here this morning for few words were minced yesterday by our young, and we fear misguided, President when he stood before the cameras of the world and threw down the gauntlet to the banking system, challenging it directly. In a show of anti-capitalist audacity we cannot recall having heard from an American president in our lifetime, and which we hope never to hear from an American President ever again, President Obama said that it was his intent to reform the nation’s banks, to outlaw the notion of proprietary trading within any of the nation’s banks, to fundamentally shift the notion of what a bank is and what it can do… and he finished by say that if the banks wished to “fight him on this, [he] will fight.”
Upon listening to his comments we were completely taken aback. We were stunned by the vehemence of the comments he made. We were astonished at the virulence of the anti-capitalist “line” he was taking. We were shocked by the vitriol. We were amazed at the fact that he seemed not only not to have been chastised by the election loss suffered by the Democrats in Massachusetts earlier this week, but he instead seems to have chosen an aggressive counter- attack. To say we were shocked is an understatement of the first order, but shocked we were and dismayed the market shall be.
Gartman is a dirtball. Note his love affair with CNBC the past few years.
So Glass-Steagall was wrong-headed policy from 1932 until 1999? The problems have all resulted "since" that time and when banks were exempted from anti-trust laws and leverage limits were increased dramatically. Obama's announced plans are only a partial rollback to Glass-Steagall.
Gartmore is an idiot.
"The President stood before the cameras of the world and threw down the gauntlet to the banking system, challenging it directly. In a show of anti-capitalist audacity we cannot recall having heard from an American president in our lifetime, and which we hope never to hear from an American President ever again."
Three others tried it.
Jackson missed being assasinated because the idiot used a cheap gun or didn't know shit about using one.
Lincoln - Assasinated
Kennedy - Assasinated
Whoever writes the Gartman letter should be rounded up and charged with treason.
"Whoever writes the Gartman letter should be rounded up and charged with treason."
Amen, however that entity is probably incorporated and thus, immune to absolutely everything. Corporations and money before people says the US Constitution affirms the Supreme Court of Bush.
+1
Turn on the lights and a bunch of lawyers will scatter back to their dark corners. If this kind of language had come out of O's mouth before he nominated Geithner I would have considered it dangerous to take on the banks.
Now I'm sure he's just trying to temper the restive crowds, ready to utilize rotten vegetables like in ye olde times. Get off ye olde stage, you puppet!
What utter nonsense from the Gartman Letter , anti - capitalist my arse
Screw Gartman.
We need banks that are banks. And investment houses have no damned business being allowed to borrow from the discount window at 0% and making free money. Gartman sounds like a spokesman for the squid. I've got no problem with Goldman making money if they do it in a real free market and where, if they fall on their ass, they get eaten alive by the competition. But what we have now is no damned free market. It's a free lunch for pathetic fascists like Gartman who want it to never end.
Ya quick. Someone throw a slimeball manipulating, lying, piece of shit guide on that guy, cause he's being misquided and taking this country off the track of creating Calligula the Legion verisions throne.
She seems more credible than Dennis "I've got a newsletter to sell" Gartman:
Show Bernanke and Geithner the Door
What has the financial crisis taught us? Among other things, we should show Bernanke and Geithner, enablers from the previous administration, the door. Paul Volcker is right to ask for a return to Glass-Steagall. It worked until it was eroded over several decades by bank lobbying. Banking and speculative trading activities--even when done for "customers"--don't mix.
"Financial innovation" must be limited, since much of it in recent years was the financial equivalent of card cheating. Banks should not be allowed to sponsor hedge funds and private equity funds, and furthermore, they should not be allowed to lend to them through prime brokerage units or other means. Financial institutions must be allowed to fail. Hedge funds require regulation. Malfeasance should be investigated and prosecuted. Credit derivatives should be traded and cleared through exchanges and made transparent. Compensation and financial incentives at banks must change. Bank employees cannot continue to reap huge rewards at no personal risk while shoving risk into the global financial system.
President Obama promised us change, and he should seize this opportunity to demand sweeping financial reform.
http://www.huffingtonpost.com/janet-tavakoli/show-bernanke-and-geithne_b...
no, just fairness. If you are a bank, you take deposits and make loans, and if you want FDIC to stand by you, you should have only a modest amount of leverage and no OBS or hedge fund like entities. You also should not be an investment bank.
If you can't live with that, then forget about FDIC and if you are TBTF then you need to be busted up.
What's to be shocked about?
There are still people who don't understand the difference between what we might agree to call "Capitalism" which we don't have now and haven't for a long time, if ever; and what we might agree to call "Finance Games And Screwing Around," which is a construct that seem to run the entire country, if not the entire developed world.
Unfortunately I'm told the best description of "Finance Games And Screwing Around" was written by Marx, who has enough of his own baggage and ridiculousness that many people don't read the parts that do make lots of sense. I myself haven't made it through much of it; it's dreadful going.
But making the banks follow some rules is not exactly hoisting the Red Flag and seizing control of the means of production, and people who say it is are being silly.
We're not quite there yet. Boxer and Feingold are co-sponsors on the Senate's audit the Fed bill. I called several of the co-sponsoring Senators offices this morning to gauge support for Bernanke amongst that set. It is reasonable to assume that every co-sponsor of S604 is a vote against Bernanke.
A Politico report yesterday night noted about a dozen Dems in a closed door meeting said they would vote against Bernanke. There are 9 Dem cosponsors out of the 31 for S604.
Back out those 9 Dems from the dozen in the Politico report to find how many non co-sponsors of S604 could go against Bernanke. The total from this rough exercise is 34 reasonably reliable votes in the Senate against Bernanke. 41 is what is needed to block the confirmation, so hit the phones people :-)
http://thomas.loc.gov/cgi-bin/bdquery/D?d111:1:./temp/~bd9orU:@@@P|/bss/111search.html|
http://www.politico.com/news/stories/0110/31844.html
We need a list of all Senators who are up for reelection this year, where can we find such a list. They are the ones who should be the most nervous. Any of them who vote for Bernanke will see their opponents receiving funds from me.
Ask and ye shall receive. Ignore the numbers; that's just one of my record-keeping picadillos.
# 2.3 Democratic incumbents (14 seats)
* 2.3.1 Blanche Lincoln of Arkansas
* 2.3.2 Barbara Boxer of California
* 2.3.3 Michael Bennet of Colorado
* 2.3.4 Daniel Inouye of Hawaii
* 2.3.5 Evan Bayh of Indiana
* 2.3.6 Barbara Mikulski of Maryland
* 2.3.7 Harry Reid of Nevada
* 2.3.8 Kirsten Gillibrand of New York
* 2.3.9 Chuck Schumer of New York
* 2.3.10 Ron Wyden of Oregon
* 2.3.11 Arlen Specter of Pennsylvania
* 2.3.12 Patrick Leahy of Vermont
* 2.3.13 Patty Murray of Washington
* 2.3.14 Russ Feingold of Wisconsin
# 2.4 Republican incumbents (12 seats)
* 2.4.1 Richard Shelby of Alabama
* 2.4.2 Lisa Murkowski of Alaska
* 2.4.3 John McCain of Arizona
* 2.4.4 Johnny Isakson of Georgia
* 2.4.5 Mike Crapo of Idaho
* 2.4.6 Chuck Grassley of Iowa
* 2.4.7 David Vitter of Louisiana
* 2.4.8 Richard Burr of North Carolina
* 2.4.9 Tom Coburn of Oklahoma
* 2.4.10 Jim DeMint of South Carolina
* 2.4.11 John Thune of South Dakota
* 2.4.12 Bob Bennett of Utah
Don't vote! It is consent to be governed by the next bum!
WW - Vote - None of the Above. Turn out will be all important and if enough folks decide to go this route the message will be unmistakable.
!!!
All we need now is someone that can read teleprompters and is willing to undergo a name change:
Wikipedia's entry on the 2010 Senate races is information overload but great.
http://en.wikipedia.org/wiki/United_States_Senate_elections,_2010
All Class III Senators are up for re-election and the special elections to replace Clinton and Biden are in November as well. Interestingly enough it seems most the Dems on S604 are up for re-election, no small coincidence I'd reckon.
If anyone is enterprising enough to hit the phones (especially if you have a NY phone #) I'd recommend starting with Kirsten Gillibrand. She is VERY succeptible to pressure. My favorite quote from my time on the Hill, "Stenny made Kirsten Gillibrand cry!" And sure enough, in that instance she changed her vote and went with leadership.
Steak - The meeting of divergent points along the axis line of political philosophy accelerates, as we have discussed. I strongly suspect that the Class I senators are under far greater political threat than they or their supporters now appreciate.
This is a little off topic but does it really come as a shocker.... "Dodd and Gregg Block Audit-The-Fed in Senate"
http://www.huffingtonpost.com/2010/01/21/dodd-and-gregg-block-audi_n_431...
Thanks for being all over this ZH.
let's see, sanders, boxer, and feingold etc in bed with bunning, vitter, etc...
hyenas nursing an injured 3 legged baby zebra back to health.
2 weeks ago i would have said impossible that bernanke does not get the vote.
now, it isn't looking good at all for bernanke. time to ramp it up folks.
if one or two democrats come out and go to "no" on bernanke today or over the weekend, it looks like he actually might be toast.
it is possible obama has already made the decision to yank the nomination or is close to a decision.
i'm going to make my call now: Bernanke is done.
"TIME TO RAMP IT UP, FOLKS"......@#*$%^& RIGHT!
We may never have this chance again. Call, e-mail, telegram!
As my fluffernutter hypothesis steps closer to reality... Over/Under on how soon we see Biden do another run to Scranton, or similar location to do the deed? Unless of course, Joe is really from Minooka....
More than any other incumbent Dem in the Senate, Boxer is sweating it. That Brown win in uber-liberal Mass. woke her up on the economic issues of the Nation and her home state.
So this is just theater.
I still say Obama will get the nod for Bernanke.....less the unnecessary votes from the endangered incumbents. I just can't see them handing the First Dude another big " FAIL". Reid has already counted up what he needs to get it done. Of course, he's another one who will lose his seat in November ...but he knows that already.
I just can't see them handing the First Dude another big " FAIL".
you are correct about the Dems not handing Obama another fail, no doubt about it.
if bernanke is out, it's because Obama made the call, and it won't even go to the Senate for a vote. Obama would have to retract the nomination and if it is to happen, bernanke would bow out on his own rather than suffer the humilitaton of a retraction.
Obama issued a statement today that he continues to back him.
I still suspicious by the fact that he wasn't at that press conference yesterday. He is the regulator for BHC's after all.
Obama wouldn't pul the nomination anyway, he would resign, saying something about spending more time with the kids.
If he didn't make it, it would be a real conundrum for me, on whether or not to keep all my gold holdings. Odds are the next guy would just destroy the currenct I guess.
Would love to see Uncle Ben out the door, even though a crook of equal caliber will replace him. I know he is busy but I think Gideon Gono could be wooed to take charge of the Fed.
Gideon would at least be more upfront about destroying the currency.
Should have reappointed him over the congressional
christmas break. Yes Bush 44 still has a lot to
learn from Bush 43.
Ben's reply?
http://www.youtube.com/watch?v=Gz3Cc7wlfkI
Classic.
How about this?
http://www.youtube.com/watch?v=wcW_Ygs6hm0
Ben: " ....SHE'S GOT A GRENADE!!!!....SHE'S GOT A GRENADE!!!!....AWWWWGGGGHHHHH!!!!!!----
(Helicopter explodes):
Tim: F---cking savages!
It's over on YouTube for a reason.
We can only hope and pray. Some ritualized ceremonies aren't out of the question either.
hard to believe, but cnbc dot com has the Bernanke matter as a headline.
I can see it now, Tim Geithner nominated to head the Fed.
?????
Obama is dissing Geithner publicly right now. Who will nominate Timmay?????
Besides, H&R Block is hiring seasonal preparers right now. Word is that's where Timmay is headed........
Boxer sniffs an electoral tidal wave.
Can she stack enough boxes one on top of the other to reach the rope which will save her senate career?
Does it even matter?
This seer says she is way too short.
What electronic ballot or illegal alien voting scheme got her elected in the first instance?
Without Bernanke and Geithner, the gold and silver suppression operation might shut down.
It's too late for Babs Boxer, she's been notified the contract on her senate seat will not be renewed. Hit the road bitch.
Excuse me? Its Sad Old Bitch to you my dear!
Ummmmm, hello?
It's "SENATOR" Sad Old Bitch.
http://www.youtube.com/watch?v=f0CprVYsG0k
Yeah she worked hard for that.
Don't let the door hit your ass on the way out Ms. Boxer!
Excellent!
Thanks Rusty. I should be flogged for that error in protocall!
I want to see neB eknanreB go down with the ship... Dont let him off the hook, you know we will just get another crook anyways.. Let him go down and take the blame he deserves. For gods sake, it was not a month or so ago and everyone (MSM) was celebrating the job he is doing, MAN OF THE YEAR!!
Bipolar anyone?
Why could Volcker not chair the Fed again?
Hillary vs. Sarah in 2012.
Lordy me!
And MTV's celebrity deathmatch will enjoy a renaissance as America's leading political show.
bernanke should suffer the ignominious defeat of a senate disconfirmation....on the other hand, he will be replaced by someone worse...nonetheless the current trash needs removal with tomorrow's to be handled in its own turn....
i suppose larry summers - not to be confused with donna summer - or paul "i'm a keynesian turd leftover from the 1930s" krugman or some other discredited neo-nazi dirigiste will assume the mantle of financial terrorist-in-chief...
so long ben....hope you end up behind bars soon....
"Politicians are merely Opportunists, looking for a big parade that's marching somewhere. As Opportunists, they can't pass up the chance to jump in front of a parade and declare themselves to be the leader."
- Jim Babka
I like that idea.
Political uncertainty and leadership changes will be unsettling to the status quo. My view is if Benny gets his walking papers the market won't like it.
Quite correct---the market won't like it.
All the more reason that the public would love it!
BTW...Dont underestimate Boxer. She is entrenched in Cali--Big Labor here loves her, and Californians have seen the folly of electing another Republican loser (Ahhhnold). Fer Chrissakes! The number two GOP canidate for Governor here is Carly Fiorina, widely despised even here in Silicon Valley.
Democrats have run California into the ground. Now you want a damn handout from the rest of the country.
"Louis Farrakhan nominated to head the FED. Obama says 'Best man for the job. He is going to teach those damn jews how things should be done.'"
Bloomberg kind of news
CCCP
My worst fear is that Larry Summers is next in line to be Fed Chairman. You know he's been yanking himself over it since the day he hit puberty.
Why else would an ego like his play 2nd fiddle at treasury to Geithner, a guy he breast-fed himself?
END THE FED.
does this mean the fed is not going to pay off my mortgage, heloc, car, big screen tv and surround sound system anymore?
I once offered Boxer $100 dollars, if she would impeach Bush.
Politicians are non-stop fund raising machines, and I was tired of the emails, so I offered her $100, if her party would put forth the articles, and they were to reach the Senate and she voted Aye. Now it seems pretty silly, but what if 100,000 people signed a petition agreeing to give their elected officials campaign contributions in return for what they wanted? That's a million bucks.
At the time recall, 2/3's of Dems wanted an impeachment resolution, and Pelosi said "impeachment is off the table", and two opponents ran against Pelosi, the later being Cindy Sheehan, but of course giving them $100 is pretty much a useless exercise, but buying the politician's favors, that might work.
Voters should think of themselves as individual shares in an ETF, we know how a trading in an ETF can drive the underlying market, like gold for instance. So if you want to get rid of gentle Ben, I suggest ZH put together a series of campaign contribution points, set up a simple contract, and put it to the state-wide candidates. Vote No on Bernanke and we'll mail the check. Is that unreasonable??
I credit myself for this development. Obviously my email to Boxer yesterday put the fear of god in her.
IMHO They will need an insider to fix the mess, I would place my bet on the 'most human' within the machine, Yellen
and Lockhart
The answer is:
BBoxer is up for reelection in 2010
"Boxer is no firebreather on economic issues..."
But Boxer CAN balance a check book... while in the House Boxer bounced 87 checks to the House Bank. Anybody remember that little overdraft scandal in the early 90's?
I will cut Babs some slack though... she likes young men and was "generous" with her male staff... probably bounced a few of those checks buying young men lunch...
Why are some people here recommending that an academic take over at the Fed? Why not have a real businessman (and gentleman) like Jack Bogle go in and open a can of whup-ass at the central bank?
I wouldn't mind seeing that:)