2 Key Senators Oppose a Second Term for Bernanke

[MannyGoldstein]

Source: The NY Times

The confirmation of Ben S. Bernanke to a second four-year term as chairman of the Federal Reserve ran into further trouble on Friday as two more Democratic senators said they would vote against him.

...

In a statement Friday morning, Senator Barbara Boxer, Democrat of California, came out against Mr. Bernanke, who was named to his post during the Bush administration. She said she had “a lot of respect” for him and praised him for preventing the economic crisis from getting even worse. “However, it is time for a change,” she said. “It is time for Main Street to have a champion at the Fed.”

...

Another Democratic senator, Russell D. Feingold of Wisconsin, also announced Friday that he would vote against Mr. Bernanke.

“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,” Mr. Feingold said in a statement.

Read more: http://www.nytimes.com/2010/01/23/business/economy/23fed.html?ref=global-home

---

Hey! Some actual Democrats in Congress!

Maybe there's some actual hope, as well!

[RUMMYisFROSTED]

1. 4%

:woohoo:

[RUMMYisFROSTED]

2. ...of those needed...

[Sebastian Doyle]

3. K&R for REAL Democrats

Either of whom would be a far more effective Majority Leader than that spineless coward from Kolob.

FUCK Bernanke! Replace him with NOBODY. Pull the plug on this criminal joke called the "Federal" Reserve which is just as federal as Federal Express.

[proudohioan]

4. You GO, Barbara and Russell!!!!! YES!!!!!!!

[glitch]

5. Boxer/Feingold or Feingold/Boxer, my dream ticket. K & R

Yeah, I know they aren't perfect. Nevertheless!

[elocs]

6. Russ Feingold, my senator. Yeah. n/t

[Generator]

7. Saw this on Ed show

He also said some insiders told him that the Dems are thinking of distancing themselves from Obama this year to INSURE re-election. It's pretty bad when the Democrats in Congress act like Democrats more than the Democratic president. Also they seem a little savvier on the politics. Again, I ask, who IS Obama?

[Vidar]

8. Two of our very best!

[cory777]

9. Populist backlash puts Federal Reserve Chairman Ben Bernanke under siege

Source: Washington Post

By Neil Irwin and Lori Montgomery
Washington Post Staff Writer
Saturday, January 23, 2010

The populist brushfire that has burned through Democratic fortunes this week threatened Friday to claim Federal Reserve Chairman Ben S. Bernanke, imperiling his nomination for a second term and sending an unsettled stock market tumbling for the third straight day.

Once viewed as the rock at the center of the government's response to the financial crisis, Bernanke has become a target for mounting anti-Wall Street fervor with two Democratic senators registering their opposition Friday and other support softening.

Top Senate Democrats scrambled for votes to confirm Bernanke less than a week after he seemed certain to earn a second term when his first expires Jan. 31. Although Democrats and Republicans alike mostly praise Bernanke for aggressive steps to combat the recession, he is increasingly blamed for failing to rein in Wall Street excesses that led to the crisis and tarred by his role as engineer of the profoundly unpopular bailout for financial firms.

Read more: http://www.washingtonpost.com/wp-dyn/content/article/2010/01/22/AR2010012203075.html?hpid%3Dtopnews

[Skink]

10. Freakin Conan is under seige duche bag.

[Downwinder]

11. They still are not getting it. There were four mentions of Wall Street

in the article and not one mention of Main Street. I've got news for them, it is not just Bernanke under siege, it is this whole administration and Government.

[JDPriestly]

12. Bernanke practically challenged Congress to cut Social Security

and Medicare, but he can't bring himself to back the idea of cutting the bankers' bonuses.

And Bernanke has been downright dismissive of ordinary Americans and Congress in his appearances before Congress.

[Left Coast2020]

13. I just read a post from another site I go to on Sen. Boxers.....

....announcement that she will oppose this dude. In the post (paraphrasing), it said that these Senators coming out against another term for Bernake is just "grandstanding." Now Boxer is my senator. And I like to believe she is on the same page as I am--which is vote against this wall street croonie. But to suggest someone is grandstanding I find perplexing. I would like to think after tuesday's shock treatment the message has been received.

And just an FYI, there is the suggestion from someone I heard on NPR today since Volker has been promoted, Geitner may be going out the door. In the presser today, he was at the end on the line instead of standing next to the prez. Or is it that he just got the "cold-shoulder" treatment? :shrug:

[aquart]

14. "Populist"? Is that the spin?

His "aggressive steps" were designed to give away the store to the thieves.

[mdmc]

15. $

[JVS]

16. That dude needs to leave

[glinda]

17. Obama can't have it both ways. He can't ask for Bernanke to stay and can't take money from

Wall street and then ask us to get his back. WTFU barack!