Two More Senators Endorse Bernanke As Former Enron Lobbyist Garners Support For Yet Another Con
The one most promising legacy out of the greatest corporate con early in the last decade, which by the way was Enron for those of you who may not have been born yet, will undoutedly be its lobbying power. As Politico notes: "Possible successors to Bernanke include three people currently advising Obama on the economy, former Fed chief Paul Volcker, Larry Summers and Christina Romer. Kohn was traveling in Europe at the end of the week on Fed business, but strategy on the Bernanke confirmation was being led by former Enron lobbyist Linda Robertson, who is viewed as an effective advocate for the banking chief on Capitol Hill." One con lobbying for another con: what a swell summation of the sad state of affairs in this once great country.
In other news, two more Senators have succumbed to Rahm's herding, as Senators Feinstein and Inouye have have come out with open support for Bernanke.
From Dow Jones:
U.S. Democratic Senators Dianne Feinstein (D-Calif.) and Daniel Inouye (D-Hi.) Monday said they would support Ben Bernanke for a second term as chairman of the Federal Reserve, after the White House escalated efforts to win the 60 votes needed.
"Ben Bernanke has been helpful to the recovery and, for reasons of stability and continuity, should be reconfirmed. I support him fully," Feinstein said in a statement.
Sen. Inouye is also voting for Bernanke, his spokesperson Lori Hamamoto, said in an e-mail.
Despite a flurry of activity by the White House over the weekend, Bernanke's confirmation was not a certainty. As of 10:30 a.m., EST, Monday, 34 senators were publicly committed to voting for Bernanke, with 17 opposed, according to a Dow Jones Newswires survey.
The Senate is expected to vote before Bernanke's four-year term expires Jan. 31.
The Senate Banking Committee voted 16-7 last month to move the Bernanke confirmation to the full Senate.