Bernanke gets a second term.

Bernanke gets a second term.

money.cnn.com

WASHINGTON (CNNMoney.com) -- Federal Reserve Chairman Ben Bernanke was confirmed for a second term Thursday by the U.S. Senate.

The final confirmation vote was 70-30. Minutes earlier, more than enough senators, 77, voted to end a filibuster on the nomination in a procedural move that required 60 votes.

The vote, which occurred just three days before Bernanke's first term was scheduled to end, came after heavy lobbying by Democratic leaders and the Obama administration. President Obama, himself, made calls last weekend. And Senate Majority Leader Harry Reid, D-Nev., lobbied Republicans t

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I share my sentiments with the article in that the FED were the cause of the financial mess we're in right now, and because THEY caused it, THEY have the solution to it, whether we like it or not and that's why ole Bennie is getting his second term. I AM DISGUSTED!!!!!

What can only come of this next? We're selling out our country's manufacturing, real estate, and other companies to foreign interests, our corrupted bankers, CEOs, senators and congressmen are richer than any of us could ever hope to be, and now our elections are not about a well informed vote, but how much money someone can spend on a campaign to get exposure to the public!!

We're bankrupt because of our foreign policy, and our fiscal policies, and MORE OF THE SAME IS NOT GOING TO FIX IT!!

WHY CAN'T THE PEOPLE BE REPRESENTED LIKE WE'RE SUPPOSED TO BE!!?

/rant off.

Discuss.

money.cnn.com
(visit the link for the full news article)

How many years is a term for fed chairman?

Well......he was Time Magazine's Person of the Year wasn't he? Why wouldn't he be confirmed again?

He wants the best for all of us.

Peace

This is just disgusting. He should be in jail and they make him the head of the Fed again. Proof that neither party is worth a damn. We need a list of the bastards that affirmed this dirtbag.

reply to post by genius/idoit


They have 4 year terms.

Get ready for another 4 years of looting and lying.

reply to post by projectvxn


You want to see Looting and Lieing?

Watch Geitner doing his hearings about Goldman sachs

reply to post by Sean48


Yeah no kidding. Benny boy is just as bad though. I would like to see Tax Cheat Timmy behind bars too. They were all complicit in this mess. Benny and Timmy worked together when Timmy was at the NY FED crafting the heist...erm...I mean...bailout. They both belong in prison. Throw Paulson in there too.

[edit on 28-1-2010 by projectvxn]

"The past decade was the worst decade in modern times," Sen. Bernie Sanders, an independent from Vermont who votes with the Democrats, said on the Senate floor. He is among a handful of senators from both parties who delayed Bernanke's confirmation.

"Why do you want to re-appoint somebody who not only failed at his job as chairman of the Fed, in terms of safety and soundness, but was the author the Bush economy?" Sanders asked.

Bush chose Bernanke to replace Alan Greenspan when he retired in late 2005 - early 2006. Bernanke almost made it two years until the banks started failing and the markets went haywire.

First was Bush even competent or capable of making that decision since we know he was wrong about WMDs in Iraq and he chose Harriet Miers as his first choice to be the new supreme court justice?

Did the FED's policies change much during those two years under Bernanke and would this have happened if Alan Greenspan didn't retire?

Did the Senators filibustering have a better choice to replace him?

Although, Greenspan told the congressional oversight committee he was wrong and "I have found a flaw... I don't know how significant or permanent it is. But I have been very distressed by that fact"
www.guardian.co.uk...

My guess is Bernanke was probably not the best suited for the job.

[edit on 28-1-2010 by tooo many pills]

Why would the man who was in charge of the Fed when the economy went FUBAR be re-elected? What is this madness?

Originally posted by Captain Reynolds
Why would the man who was in charge of the Fed when the economy went FUBAR be re-elected? What is this madness?

The economy didn't exactly went fubar all thanks to Bernanke. Though, I don't know why he's still there - he's known as a "cash dropping helicopter". The fact that dollar is still worth something is amazing, maybe thanks to the fact that billions of people use it - but probably not for long. It doesn't matter who's in charge of the fed as long as things like fed exist. It's like saying 'why Satan got elected as chief of hell again?'

Proving once again Greed and Incompetence are rules to live by in our government.