Friday, January 22, 2010

Helicopter Ben: Hanging By A Rope Ladder

From ABC Snooze:

Senate Dems Not Sure They Can Get Enough Votes to Reconfirm Bernanke

Amidst the voter anger at Wall Street and Washington, D.C., ABC News has learned that the Senate Democratic leadership isn't sure there are enough votes to re-confirm Ben Bernanke for another term as chairman of the Federal Reserve.

Bernanke's term expires on Jan. 31.

The White House did not respond to many requests for comment. (?)

"The American people are disgusted with the greed and recklessness of Wall Street," Sen. Bernie Sanders, [Communist of Vermont], said in an interview with The Associated Press last month. "People are asking, 'Why didn't the Fed intervene at the appropriate time to stop the casino-type activities of large financial companies?'" [I don't know - because investment implies risk?]

Sanders, Sen. Jim Bunning, R-Ky., Sen. Jim DeMint, R-S.C., and Sen. David Vitter, R-La., have all put holds on Bernanke's nomination, requiring 60 votes to proceed to a vote.

Voter anger is of heightened concern to members of Congress given the surprise victory of Sen.-elect Scott Brown, R-Mass., who rode a tide of voter discontent and economic anxiety to an upset victory in a special election earlier this week.

Last month, the Senate Banking Committee voted in favor of Bernanke's nomination by a vote of 16-7, not exactly a reflection of overwhelming positive feelings towards the Fed chair given the fact that he was first appointed in 2006 by President George W. Bush and nominated by President Obama for a second term last August. [The End of Ben?]

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