Help me, DU. You're my last hope. Need help to refute a RW radio host claim...

[TooBigaTent]

Is Chris Dodd holding the nominations for two vacancies on the Fed's Board of Governors?

And is the reason because (1) the board is supposed to be comprised of seven members - four from the president's party and three from the other. (2) Two repuke Governors changed their voter registration to "Independent" so (3) George could appoint another two GOPers.

At least, that is what I remember. Maybe because it is late and my brain is too addled, but my searches have not turned up the party-ratio part or the registration switch by the two Governors or even the party-affiliation now of the five currently sitting.

The schmuck on the radio was blasting Dodd for making the poor (not) little Governors work so very hard on trying to rescue (screw) the American people. I would like to be able to respond with supportable facts.

Thanks for any help that comes my way.

[elleng]

1. TooBig, a story, but

no reference to 'holds.' Will look further.

http://www.usatoday.com/money/economy/fed/2006-01-30-nominees_x.htm


edit: composition of board http://tinyurl.com/38ajml

[Historic NY]

2. Its Sen Mitch McConnell's a repukes fault...............

http://en.wikipedia.org/wiki/Federal_Reserve_System
Members are not appointed because of political parties. There are currently only 5 there due to staggered terms, the next 2 will come in the new administration.

Tell the jerk he means the Federal Elections Commission not the FED (Federal Reserve). The reason the appointments are not complete is because Sen Mitch McConnell a Repuke is refusing to allow an up or down vote on four that have been nominated. The Democrats have objected to one and he will not allow a vote unless they are all together.

http://www.washingtonpost.com/wp-dyn/content/article/2007/12/21/AR2007122102299_pf.html

[flowomo]

4. not right, according to this story:

The seven-member Fed Board of Governors in Washington, headed by Chairman Ben Bernanke, has not had a full staff since June 2006 and is two members short. Although President Bush sent nominations to lawmakers in May and hearings were held in August, the Senate, which must approve Fed nominees, has not voted. In fact, the committee that must first approve the nominees has yet to weigh in.

http://www.usatoday.com/money/economy/fed/2008-01-20-fed-vacancies_N.htm

[Historic NY]

6. Okay I stand corrected..........obviously it was not a priority....

for Bush since he just got around to sending names in May almost a yr late. There seems to be a lots of appointment languishing. You threw me with the political party/independent thing, thats whats going on with the other one.

[flowomo]

3. latest stories I could find are here:

http://www.usatoday.com/money/economy/fed/2008-01-20-fed-vacancies_N.htm

http://www.financialweek.com/apps/pbcs.dll/article?AID=/20080125/REG/730483430/1036

[T Wolf]

5. Thank you all. Maybe I dreamt it.

[tabasco]

7. Thanks for your concern.

Maybe come up with a new shtick, eh?

It looks like you're having an identity crisis too.