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Watch Bernanke Debate Live
The Bernanke debate in the senate has started. Readers can watch it live on CSPAN.
The latest Bernanke tally is as follows (courtesy of Jim Bianco):
Per Dow Jones:
- Voting “Yes”: 53 (38 Democrats, 14 Republicans, 1 Independent)
- Voting “No”: 20 (5 Democrats, 14 Republicans, 1 Independent)
- Officially Undecided: 21 (11 Democrats, 10 Republicans)
- Unknown: 7 (3 Democrats, 4 Republicans)
Per Bloomberg:
- Voting “Yes”: 51 (36 Democrats, 14 Republicans, 1 Independent)
- Voting “No”: 22 (6 Democrats, 15 Republicans, 1 Independent)
- Unknown/Undecided: 27 (16 Democrats, 11 Republicans)
Note Bloomberg includes Paul Kirk of MA (as a yes) and not Scott Brown.
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is it mapped to any tickers on FreeStockCharts.com?
You may as well chalk Gillibrand up as a Yes because she does whatever Chuck does.
How about prior to the confirmation vote the senators put BB on a speaker phone and asking him to submit the FED to a full and fair audit? If BB says , "NO!", then vote him out!
I kinda' tawk lik a hick. Seriously, this guy is reading off a fucking piece of paper. Does he understand a word he's saying?
I say keep Bernanke in, prevent the market double-dip for now. Who else wants this job? No one. Not after the average Joe and even the metal bugs and tin-foil loonies on here have criticized perhaps the single hardest position in the world from the comfort of their couches and computer screens, based on what, paranoia? The market corrected, the bubble popped, deal with it. Did we forget about the internet bubbles? the Japanese asset bubble?
2 questions: Does Japan stil exist as a country? Yes. Can the people there still buy stuff? Yes.
End of story.
You are afraid and acting delusional.
No, it is the path to ultimate truth.
And just accept Ben's (et.al.) tomfoolery as a "fact of life"? Not me!
How long has Japan been in a deflationary environment with 0%ish interest rates? When was the last time the Nikkei hit a new high?
The hardest position in the world? Pressing a big red digital "PRINT" button like the staples "EASY" button isn't hard.
How bout you try running a tae kwon do school with a bunch of slacker sub-ordinates?
Haha!
www.RevokeTheFed.comMarch 2008
WHEREAS, Article I, Section 8 of the Constitution of the United States of America authorizes Congress "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures";
WHEREAS, on December 23rd, 1913 the US Congress enacted the Federal Reserve System;
WHEREAS, the Federal Reserve System is considered an independent agency within the federal government, with oversight of Congress and containing appointed public officials on its board of directors;
WHEREAS, the Federal Reserve System Controls the Federal Reserve Note, the official currency of the great nation of the United States of America;
WHEREAS, there may be controversies regarding the legality and constitutionality of the Federal Reserve System, it is recognized that the said system has operated continuously as the central banking system of the United States since the inception of the Federal Reserve Act of 1913;
WHEREAS, the Constitution of the United States of America granted Congress the authority to create the current Federal Reserve System, it also does grant Congress the authority to modify or revoke the Federal Reserve System;
WHEREAS, the actions of the Fedreral Reserve System represent the credit and currency of the United Stated of America to the citizens of this great nation and to the world;
WHEREAS, the Federal Reserve System, acting independently within the federal government allowed, supported, and even promoted parasitical and non-productive uses of the money and credit of the United States of America;
WHEREAS, the United States and likely the entire world's financial system is undergoing massive de-leveraging of the said parasitical and non-productive uses of the credit and money of the United States of America (as well as other nations' currencies);
WHEREAS, the US dollar, the "Federal Reserve Note" is declining in value due to these parasitical activites, as well as potentially other causes;
WHEREAS, it is recognized that the citizens of the United States and other nations did willingly participate at some level in the creation and propogation of said parasitical activities;
WHEREAS, it is also recognized that the United States of America, a sovereign nation, has the legal, moral, and God given authority to take actions to benefit its citizens and to protect its good name, credit and money in times of difficulty;
WHEREAS, it is recognized that the current time is such a time of great difficulty;
WHEREAS, it is recognized the parasitical financial institutions and their activities are at odds with citizens of the United States of America and the good credit and money thereof;
WHEREAS, the current indications are that the Federal Reserve System is acting to preserve the financial system currently flooded with the parasitical activities;
WHEREAS, the current indications are that the neither the Federal Reserve System, nor the Congress of the United States, nor the people of the United States have access to the books of the institutions being preserved by the Federal Reserve, and therefor the degree of inter-connectivity and risk associated with the institutions and other entities cannot be determined;
WHEREAS, the Federal Reserve System is accepting non-performing assets as collateral for credit with ultimate taxpayer responibility to entities not under its legislative mandate;
IT MUST BE CONCLUDED, that the Federal Reserve System is not acting to the benefit of the people of the United States of America, its credit, money, and good name;
WHEREAS, it is recognized that the political will and capability of the government of the United States of America may not be up to the task of prosecuting this proclamation ; It is also recognized that this may be the only hope for the continued survival of the United States of America as the great nation as it has historically existed.
NOW THEREFORE, it is PROCLAIMED by those supporting this Proclamation that the Congress of the United States of America FULLY NATIONALIZE the Federal Reserve System, and take full control of the credit and money of our great nation; The Congress must take whatever action necessary to seperate out, sequester, disown, or otherwise neutralize the effect of the parasitical financial activities which led to the current crisis; The Congress of the United States of America must reorganize, replace, or terminate the Federal Reserve System as appropriate; or otherwise devise a system for creation of the national currency.
IT IS FURTHER PROCLAIMED, that the Congress of the United States of America in cooperation with the Executive of the United States of America contact allied nations and any other nation willing to participate in the overhaul of the failing and parastical financial sytem currently in operation and create new treaties and alliances as necessary to create a sane and productive system of finance with the express goal of supporting a productive national, and by extension and through voluntary cooperation, world economy;
FURTHERMORE, it is PROCLAIMED that it should be the goal of such an international effort to maintain fair international trading practices allowing for protection in national interest of labor, resources, and productive capabilities;
WHEREAS, it is recognized that such a move on the part of the United States of America may result in the necessity of an isolationist policy IF the other developed nations do not follow our lead; If such occurs, so be it.
SO HELP US GOD!
the most realistic comment on this blog, yet. i think. (and i mean what marlin wrote before this paste job)
kinda like that one line from the movie about microsoft, when steve says apple makes better products, and gates responds that it does not matter.
actually, now that i think about it, mike tyson made a perfect comment for all the ZH perma whiners: "they all have a plan until they get hit." lest not forget - the ppl in the public eye are getting hit all the time.
It's really not about realistic comments, it about a guy who had a job to do and didn't do it. If you think the economy is on the track to recovery consider this: every post war recovery was led by residential construction (and somewhat manufacturing-yeah that's gonna happen in America today). Residential Construction hit a new ALL-TIME LOW in December. Until all the oversupply in housing; single family, condos, vacation homes, dog houses, ect gets worked off the economy is basically going nowhere. And that won't happen when no one has a job or a loan to buy those domiciles. So, Bernanke already blew the house bubble now what? Just sit back and wait, because Bernanke has a plan to fix it all for you trust me. Really. That's Reality.
Fed policy is likely destroying the national economy in the interest of keeping a few TBTF banks hanging on life support.
That is not paranoia. That's what they say they are doing. Their reason for doing so is open to debate, that's all.
BB was creating Fed policy for a decade. He knows what he wants. But his solutions are wrong and damanging. Get rid of him, start over.
End of story? That's pretty presumptuous.
The market corrected? The bubble popped? When? It hasn't even come close to correcting.
Bernanke won't be satisfied until the boom-bust cycle is stuck permanently on "bust".
Really? So what happened in March?
Everyone knows that unemployment is highest right before the beginning of an economic turn around. Before companies start hiring, they need to cut jobs. It takes several months to get them hiring again.
And then people have jobs again. And people spend, and credit loosens. Our economy is cyclical, it goes up and down.
And then what?
Life still goes on. You work, you play, you eat, sleep, have sex, etc. You buy stuff, you sell stuff. The economy goes up and the economy goes down.
And then, like Keynes said it, in the long run, we're all dead. So what?
Gee whiz, so what if the rich get richer and the poor get poorer. So what if our manufacturing base has been hollowed out over the last 30 years. So what if we now have trillions in government debt as a result of the bank bailouts. So what if the FHA is taking on the role of sole subprime lender and the taxpayers will be holding the bag a few years from now. So what if we have to institute a federal value added tax to pay for the interest on the national debt. So what if this country is going down the tubes. Just live, eat, have sex with a greatly reduced standard of living. Bread and Circus.
You are captured, and your walls appear to be windows.
Do not commit the crime for which you now serve the sentence.
March means whatever you want it to mean, I suppose. Good luck with your rosy outlook.
The only way we'll all be dead is if the world destroys itself. Which, under Keynes' watchful eye, may just happen.
Serf.
Jamie Dimon, is that you? Oh, and sub-prime is contained.
Boy, you don't ask much; your 2 questions were yes after WWII when both countries had been bombed flat and near starvation.
Is anyone so foolish to think that replacing Bernanke will fix anything?
This is all just masturbation.
I am Chumbawamba.
No, but I think we all just want to see him suffer.
Me too, but any suggestion of lamp posts and rope is still considered "over the top" by some.
I am Chumbawamba.
I'd be happy if he just ended up bagging groceries at super walmart.
And then gets fired (and arrested) for stealing from the till.
I am Chumbawamba.
Hi. I'm Ben Bernanke. I'm here at paper goods aisle where we are secretly switching peoples regular toilot paper for our super aborbant Federal Reserve Notes.
you are right screwing the americans out of 14 trilliom dollars cannot be easy. especailly when you try and sleep at night. Japan still exists yes but for how much longer in its present form. Its stagnated for 20 years
when if they hadn't of medelled they would be ok now
all they have to show for it is a load of debt
Last time I checked, the Yen wasn't the world's reserve currency, and oil trade wasn't done with petroyens, so not exactly an appropriate comparison...
JT Marlin: your accent has nothing to do with your intelligence
Menendez:
"Bernanke will corrall bulls on wall street"
"Bernanke has worked to keep inflation low"
Wow red is blue. Now he is disgracing Kennedy quoting him. Saying we must" Not act for the moment but for the time" and Kennedy was well aware of not wanting to mortgage futures.
Bunning "I was right 4 yrs ago. Bernanke is a failure"
I've always thought of Bunning as only a baseball player.
He really knows what is going on, or reads ZH...
I have no idea why these guys dont call out their fellow Senators as being bought and paid puppets. Bunning just simply say, " And I want the American people to be well aware of the majority who are voting in favor of Bernanke are voting with their wallets and the contributions made to them by banking. And I hope every 5pm news network sound bites this clip so they understand a vote by any elected Senator for Bernanke is a vote AGAINST their constituents. Wall Street just received record bonuses courteousy of their money. They caused this mess and YOU are suffering for it and all of you still unemployed look no further to the TARP payments and 0% rates and stolen wealth.And I am telling you as evidenced by Brown in MA anyone who votes for Bernanke will not be allowed a pass by the American people and the silent inflation Bernanke perpetuates.
Lets see how many Yes votes we see then.
Funny how the supposed "simple" Americans are well aware of what is right and what is wrong and the elite privileged do not:
Dodd: Inherited his father's seat
Menendez: Appointed by Corzine. No 2. contributor Goldman Sachs
Schumer: Wall Streets best friend, voted to Repeal Glass-Steagall
His "colleagues" in the Senate would censure his ass in a heartbeat. Hell, there'd be impeachment hearings. Look, Barney Frank can run a gay brothel out of his district office, but Bunning can't call his fellow senators out.
BUNNING BUNNING BUNNING!!!
HIP HIP HURRAH!!
I am glad we still have people in Washington with some sense of America and Freedom.
Now we can listen to Dodd, who should help water the tree of Liberty...
Bunning was great.2 minutes of dodd was 2 too many...what a corrupt ass.
Have some fun today. Put on equal trades/risk/trailing stops with both SSO and SDS, and watch what happens after the vote.
When Jim Bunning is the sane one, I fear for the Republic..
With this exception, he lost his fastball years ago..
But, Hopefully he can win One More Game at 3:20..
The banks control the Federal Reserve, and they consistently engineer the appointment of "leaders" who favor the profitability of the banks over the welfare of the American people. How can this be a good thing for anyone other than the banksters?
Dodd is pulling the Bernanke saved us from a great world depression. Wow, I wonder what we are facing now.
Dodd makes me sick. He doesn't even address that Bunning asked that the documents concerning AIG (that he had to view with the understanding that he couldn't divulge any of the information) be made available to all before confirming BB.
Agreed. I do not know why he is under the impression that the LOUDER YOU SAY THINGS THE MORE BELIEVEABLE THEY ARE.
I had to pull out my headphones for Judd Gregg I despise his Mr. Burnsishness
I think Sheldon Whitehouse just went from undecided to NO LOL
Blah blah blah...
Americans are soooooooooo DUMB... weak... spineless... and asleep...
Went to watch Bernanke show on Cspan. Could only find someone called Barack Obama making a campaign speech in Tampa.He running for something?
HA! Yeah, he's running against Bush.
Maybe he's just on the run.
The Bernanke hearing is on C-Span 2.
GoGo Bailout Ben...
start of hearings: XLF down over 1.7%, on over 100M shares
an hour later: XLF up, on a few million shares
This is Amusing, all arguments supporting Bernanke renom are: "He is a Too Big to fail"... "World will end without the guy of the year".
Terror tactics, America is held hostage by congress terrorists.
Judd Greg is an asshat, saying Bernanke pulled us back from the precipice. He is not up for reelection so is probably looking for a cushy job in the banking industry.
He's in.
Do you want to bitch and moan? Or do you clean out all accounts you have in TBTF's?? Fix that Mr. Chairman.
Someone with a better mode of protest please speak up before 2:00.
Thanks
HAHAHAHAHAHAHAHA!!!!!!!!!!!!!!!!
Don't tell me you morons are clinging to some kind of irrational belief that you still live in a democracy?!?!?
What a very sad state America has become, a nation of morons ruled by the thieving elite; and not only do the morons accept it, they fight for it...
I will laugh as I watch babylon burn from the inside out...
When Rome fell, its light was extinguished and the entire Western world went dark for a thousand years.
Are you really so stupid as to wish for the end of the modern Rome? What on earth do you think will happen if we really do fall?
Don't know where you are, but it is inferior to the United States and likely benefits a great deal from we morons.
HAHAHAHAHAHAHA!!!
So you think America is the modern Rome, and it's existence benefits the entire world. Let me guess, you also believe in the Tooth Fairy, Santa Clause, and the Easter Bunny right? I'm guessing you also believe you live in a democracy; which is my point, it is you and morons like you that have allowed the U$$A to be taken over by the banks so you can stuff your fat face with McDonalds while you watch the latest episode of the biggest loser on your XL HD TV...
Yes I really wish for the end of Modern Rome, as well as the ultimate freedom of the people and the return to a true democracy. Now go bury your head in the sand and repeat...
"If i don't see it, it doesn't exist"
Bernanke reappointment: all the arguments “for” Bernanke are based on counterfactuals. We actual entered a recession, and it is well documented that he was involved in decisions that caused it to be so bad. We know this, it happened. But the augments for him are based on things that didn’t happen. He saved us from something that didn’t happen. But you can’t prove this. You can’t prove that we would not be in the same situation today, if he did nothing to support the financial system. You can’t prove a parallel history. So we have people voting for Bernanke on something you can’t prove, instead on empirical evidence.
Further, it's likely provable that we're in worse shape now than we were before, i.e. less prepared for a catastrophic black swan, which by definition means we are creating our own black swan.
Which, by the way, is why Taleb bugged out.
So Senator Judd Gregg agrees that it was a "mistake" to keep interest rates "too low for too long" but he should be reconfirmed for "managing the crisis that insued." - Is he listening to his own words? I think bulimics could get a lot of use out of these hearings.
Merkley is actually coherent ;^)
In response to Judd - Yes it was the Fed fault as much as anyone because they fought to stop legislation of the derivitives market in 1998 by Brooksley Born CFTC.
Geitner head of the FED in NY watched this whole thing transpire on his watch without uttering a single warning.
Greenspan in front of the senate said his ideas about the market were wrong after almost 2 decades. All these financial wizards and yet no warnings. Are you kidding?
Judd Gregg is an idiot
Shorter Judd Gregg: Populism sucks when it hurts my future employers in the banking cartel. I'm an obfuscating sack of garbage but there's nothing my constituents can do about it. I'm OUT.
See Taibi
Dodd is a drunkard and corrupt Pol.
Heh, I've said that for many years about my senator, Kit Bond. My guess is that it's an apt description of many in the Senate.
If CSPAN gets overloaded and crashes before the vote, we could see BB go down.
I wonder if they can stick to the schedule? You'd think they would wait to vote after the markets close. It's as though the markets are poised to just love BB being reconfirmed.
What the hell was that from Pryor?
He may as well have read a recipe for Crab cakes with aioli.
Somebody put dodd in a wheelchair and push into an intersection.
Holy crap. Kay Bailey Hutchinson is a hell of a lot smarter and clued-in than I ever realized.
Didn't she vote for TARP? These senators can turn it off and on like a faucet. It just so happens that she thinks she has an opportunity to gain some votes and she has the luxury of being in the minority position right now. If Bush were in office, you can bet she'd be lobbing softballs.
Kay Bailey Hutchinson was a cheerleader at the University of texas. Texans are simply smarter than most.
Seriously. Why are the Republicans even talking about Sarah Palin when they have somebody like Kay Bailey Hutchinson to work with? KBH has about 1000 times Palin's single-digit IQ.
Get a grip, hoss. She won't even be Governor of Texas...and I will dare to say neither will Rick Perry.
It is high time to get rid of this rampant "club" of thieves and Texas will demonstrate to the rest of the nation how it is done- again.
Vote Medina!
I hope Medina kicks butt and takes names tonight!
So what is going on with Sheldon Whitehouse ?
WSJ has him marked as a yes but he sounded as no if I ever heard one.
http://blogs.wsj.com/economics/2010/01/22/tally-of-senate-vote-count-on-...
What does that Yes vote refer to? Cloiture so that we can proceed to up and down vote? Some Senators could vote Yes for cloiture and proceed to up and down vote then switch to No on the official vote. They could have 50 Yes and 50 No with Joe Biden casting the 51st vote for confirmation
I think it's to stop the debate or filibuster, which they need 60 votes to do, then they only need a simple majority to reconfirm.
Haha, politics.
don't watch now, Chuck Schumer is sucking up now.
he says yes, but then points out the crap that Bernanke did wrong and says Benny is learning the lesson.
And, Chuck, get off the "independence" thing with Congress as Bernanke has lobbied over 20 Senators for this job. real independent, Chuck.
Mr. Wall Street.
He's gone his next election.
Calling all yes senators asking which Bank owns the good senator; I suggest you all do the same, especially judd gregg
(202) 224-3324
Schumer - we the politicians are worse than the FED. Yea we know.
I have a quibble with the way some people are approaching their critique of the Fed. To say that Bernanke should be tossed because he 'failed to regulate' or 'didn't regulate [x] innovation enough' really misses the point. Yes the banks were given lots of leeway, but that in and of itself is not a problem. The problem is, the Fed and/or government backstops the banks' risk, either implicitly or explicitly, publicly or in secret. They remove the risk.
I contend it is more harmful to believe the system can be totally regulated and controlled to good effect. It is impossible for this to be done centrally. I believe the market would be better able to determine every factor that the Fed purportedly tries to control, yet fails miserably over and over.
The charge is not 'he didn't do enough'. It's that he's doing too much. Shouldn't be doing anything at all.
One of the problems I have is that apparently he didn't see this coming and even went so far as to say that everything was fine. I know at some point he had to spin it that way to reduce the collateral damage, but how about a little foresight.
Shorter Schumer: I don't have to worry about losing my seat over this vote because my career has been bankrolled by Wall St. and their continued fraud. They know who works in their best interest. I'm never going to held accountable for repealing Glass-Steagal and I won't hold Bernanke responsible for his regulatory "failures." It wouldn't be fair.
I'm starting to think the only way political motivation to change things will appear is through targeted physical action. What that looks like is a matter of debate.
Sen. Kyl is a sellout.
Wow just lost Kyl. What a scum. I suppose Dodd is relieved he may not have to don that moustache and hat afterall so he could vote twice.
If Kyl sold out then there's a good chance McCain will as well. Someone should check their bank accounts.
Kyl made the best argument for: Who the hell would replace him?
Who could not?
You could press the make 100 copies button just as well as the honorable Chairman.
1. John Taylor.
2. Stiglitz.
3. Assetman.
Nah, just #3.
Although Chumba with a bunch of rope-laden knaves would go well, too.
Hey, if you need someone to press buttons, I'm so it!
I am Chumbawamba.
While he might be right, you vote him out anyway. Letting him back in is like rewarding failure. We've seen how that turns out.
I'm sooo sick of everybody talking about how bernanke "rescued" us from the abyss.
1. we are still on the abyss.
2. any phucking moron can print zillions of zimbabwe dollars and hand them over to the banks. any phucking moron can print willions of weimar bucks and monetize the debt of politicians. what the phuck is so hard about that?
Ditto. That doesn't take a financial genius.
Sure, Bernanke rescued us from the abyss.
But he pushed us into the abyss to start with.
Sen. Kyl is doing that Greek logic thing again
Lists BBs mistakes(crimes) but votes him in - please explain dork not understand
I think what he was trying to say was although BB made lots of mistake, he made them independently.
In laymen's terms, somebody greasd his palms.
Holy Cow. Sen. Conrad is blaming it all on 911.
they should cut the verbal diarrhea rhetoric and just get to the vote already. It's bad enough he might be reconfirmed, but to let a bunch of fools speak publicly about things they know nothing about it just absurd.
I have faith in free markets. They eventually break free of the shackles. You can toy with them and fool them temporarily however you cannot destroy what they do naturally such is the law of supply and demand. These politicians needs a depression and it is worth it simply just to hear their excuses and ensure we purge this once great nation of bought & paid for politicians now that we have Incontrovertible truth of their guilt. As evident by Tyler's and ZH's fine illustration the entire economy for decades has been built on consumer credit and that jig is more certainly up and each foreclosure,bankrupcty and default ensures this for the future.
The question is, will it happen in our lifetime?
uuggghhhh..I dont know. All I can say is that I have become more politically involved than as far as educating family and friends and have been contemplating not pursuing a career in finance/business and looking to politics because I love this nation. Hopefully others are beginning to think similarily and are recognizing the correlation between economic liberty and personal liberty. These people are evil. We are not all without fault. We all make mistakes but I believe regardless of faults people are either inherently evil or good natured. For someone like Chris Dodd to stand up there along with Gregg and vote in favor of something that benefits a few especially himself over the many is evil intent. If he does not know it is evil (Which I do not subscribe to) then he is too fucking stupid to be a barista let alown a Senator. What else would one expect however from political nepotism with Dodd making a term like epitome look like an understatement.
God Bless America since lately our politicians do seem to.
Uh, somebody didn't get the memo... even the braindead free-market knee-jerks at the Chicago school admit there is no such animal as a "free market". Although I agree with your other conclusions.
How do you increase demand in a economy when you protect unproductive debt and then double your debt with increased sovereign debt and also devalue the currency by producing more currency in exchange for counterfeit currency/debt
Please explain how you save a economy in such a way............ let me think.............
O I get it, the FEDs role is not to protect the economy but to protect private bank bondholders/equity holders
Maybe we will be so lucky to have a number of Senators "absent" in order to avoid commitment
Dodd just finished and noted the absence of a Quorum. Clerk is now calling the roll. Hell, its almost 3 pm in the afternoon. Where the hell are they and what does it mean? Is this a closet vote against BB?
This is a vote to end the filibuster against BB. Then they might have to wait 30 hours to vote on confirmation. There are negotiations on how long they have to wait for the up or down vote.
They waived the presence of a quorum and are proceeding to vote on the Cloture motion.
Bernanke is a major tool for the international banking cartel that owns and controls most central banking systems worldwide.
That should get him reconfirmed for sure.
Face it folks, America is FAIL!
There's no suspense here. All they're doing with the hearing is just going through the motions.
Hurray for DeMint -- what we need is a full audit of the Federal Reserve. We can't confirm Ben Bernanke without knowing what is going on at the Fed.
Yee have a good man in South Carolina at least
LET THE BERNANKAKKE BEGIN!
The "Socialist" sounds the most sane on the Senate floor. The United States Senator floor. McCarthy would be rolling over on his Jack Daniels.
B. Sanders VT. wants zero% loans for small business. BB doesn't know any lobbyist from the "small business" sector. I vote Nea
Brownback sounds like a no.
ROFL....
Dodd just said "short-term politics should not be the motivating factor"
That's such a funny fucking thing to say because that's exactly what they're using to push his renomination.
LOL I was thinking the exact same thing as he said this. We can't make decisions based on short-term politics, but we must confirm Bernanke because Buffet says the markets may move down today if we don't.
LOL I forgot to point that out!
+1
"We need to conclude this debate and vote before the market closes".
Interesting. The market is rallying in anticipation of the confirmation rally. Who is left to buy when the vote is finished?
Amazing how "Investing" has become contingent upon nothing more than day to day fluctuation. There is about as much trust in this market as their is the government, economy and the politicians. That is why this market is very sick
i can't watch dodd. this is fucking offensive to anyone with 1/2 a memory and a 1/4 of a brain.
Dodd just said Bernanke saves us from a 911-type event...
Dodd just said Bernanke saved us from a 911-type event...
...which is effing rich, seeing as ZimBen is actually setting us up for a 9/11 type event.
Oh yeah, Dodd, Bernanke is imaginative all right. In fact, he lives in his own little fantasy world, like you, Chris.
Dodd "...Buffett asked for 2 days notice on failure to confirm BB so he could sell some stock." All the more reason the sack the bastard.
Quick, Quick, close debate so we can confirm prior to market close
I heard that disgraceful remark. The markets need major reform after the elected officials. One step at a time but lets make the steps loud.
Dodd is a whore. A dirty one. A double penetrated one.
Dodd pulling a Paulson, saying main street will be doomed if BB not reconfirmed. Huh? What shite.
These blowhard fools really do like to hear themselves babble...Don't they?
are they still threatening to collapse the market if the fed doesn't get its way and have their boy bernake in.
How many times has bernake threatened to collapse the ponzi scheme markets today. Screw the ponzi scheme markets. If people can't handle their own money they deserve to loose that money.
How many of them are actually there to vote? The place looks empty.
politics notwithstanding I am with Leo (as in bullish sentiment (at least for the shorterm)) the climb to SPX 1200 will likely begin with Bennys reappointment.
(caveat - or it won't)
I sure hope the MSM runs with the headline tomorrow: "Bernanke Sentenced to 4 Years"
@ economessed
Brilliant. If only you had control of the copybook headings.
"The Chair will note the absence of a quorum."
To heck with the ponzi scheme markets. The markets are a fraud run by crooks. Anyone thats invested in the markets deserves to loose all their money. learn to take care of your own money. NOt some crooks on wall street. Americans are just stupid children alot of times. Led by the nose.
Seriously, where are they all? How can there be enough votes if they aren't there? They aren't allowed to cast votes for each other are they?
There is a surprising lack of size on both the bid and offer side many price levels above and below the current market in many usually high volume stocks. Up or down, we could see a 2% move in the last fifteen minutes today.
Neither of my Senators were there to vote. Cowards!
It looks like a bunch of them just showed up and are voting now.
I still cant figure out why some of the most liberal Senators are voting NO. What are they angling at?
Because real liberals realize the damage that Bernanke and the Federal Reserve do to our economy and our freedom.... such as I do.
Don't mix up socialism and communism.