Re-confirm Bernanke?

[gateley]

Just curious as to what you guys think. I know WE don't have a say, but if you did, would you vote to re-confirm?

[bigwillq]

1. No (nt)

[gateley]

3. Yeah, I'm thinking along those lines, too. If only it was up to us! nt

[bigwillq]

5. They wouldn't listen to us

even if 100 percent of Americans thought the same. They would do what's in the best interest of themselves and the corporations.

[gateley]

8. I know. Sigh. nt

[tritsofme]

2. I support President Obama's decision to renominate Bernanke. nt

[JDPriestly]

13. I'm not sure what nt means.

If you are serious, please explain why you think he should be reappointed.

[Cant trust em]

4. Who else is going to take the job?

Any other realistic nominations?

[Sebastian Doyle]

7. Nobody needs the job

Because nobody (aside from criminal bankers) needs the "Federal" Reserve.

[JDPriestly]

14. I would like to see Elizabeth Warren take that job or the job

of Secretary of the Treasury.

Elizabeth Warren is an outsider and would bring a fresh eye to managing the Fed and reviewing or auditing its books.

She is competent when it comes to managing an audit of that sort.

She is very fair. She cares about consumers but understands the realities of finance and the needs of the banking community. Elizabeth Warren is pretty well known to Americans of all social and economic strata who are interested in the finances of our country.

Elizabeth Warren would not try to beat up people at the Fed, but she would ask the questions that need to be asked and listen attentively and respectfully to the answers. (That is her way.) She could then explain to the American people in language we understand what is going on and make recommendations.

I would expect her to pick a staff of rational people, some from the banking sector, some from law, some with other expertise.

Elizabeth Warren is careful, cautious and conscientious. She can be trusted. We need her on Obama's team. We need her to have some authority to review, to audit the Fed.

There are a few other people who could do this job well. But Elizabeth Warren would be perfect.

Volcker is experienced and could, if willing, do the job. If I were Obama, I would ask Volcker to help me pick someone if Volcker does not want to do it.

More and more senators are announcing their opposition to Bernanke's appointment. A trend is developing. Congress is very unhappy that Bernanke has refused to allow a congressional audit of the Fed's books. That audit is essential if the American people are to continue to have confidence in the Fed. The audit is also necessary in order to permit Congress to decide whether it should change the laws under which the Fed was created or not.

So, Bernanke is obstructing the work of Congress at this time. He should not be reappointed. Working with Congress is part of his job. He seems either reluctant to or incapable of performing that part of his job.

[Cant trust em]

15. Yes. She would make me very happy.

I've listened to her a few times on NPR and the like.

[gateley]

18. She's been a guest on a few of the shows the past few days, and I would agree

with your assessment. Very smart, fair, rational -- and not 'political' at all.

[still_one]

6. He is being used as a scape goat, and Congress knows it. If they wanted

more control over him, they could do it, but then if something goes wrong they might have to own up

[gateley]

9. There's that, but he was one of the architects that enabled all this to occur.

That makes me question his judgment.

[still_one]

10. True, but I think that was because he had paulson and the bush administration to deal with

[TheWebHead]

11. after Lehman failed and the banking system was in a virtual skeet shoot

Bernanke, Paulson and Geithner played a large role in preventing all the banks collapsing and what likely would have resulted in unemployment double what we see today. there's a lot of meathead populism going on from people who don't know the ramifications of their misplaced anger. I can only hope there's enough senators who recognize they should be careful what they wish for if they want to dump Ben.

[JDPriestly]

17. Bernanke, Paulson and Geithner were part of the crew

that caused the disastrous economic situation we are in.

Unfortunately, they rescued the banks and left many, many, possibly millions of Americans nearly destitute.

The banks are enjoying their "successes" while small businesses have had to close, many people have lost their homes, and record numbers of Americans are now on Food Stamps.

The recession is far from over. The risk of a serious depression has not disappeared.

Many people have no faith whatsoever in the so-called "stock market rises." I certainly don't. They are mostly hype.

Meanwhile, unemployment continues to plague us. And many Americans have just given up trying to find jobs.

So, Bernanke, Geithner and Summers have shown us their stuff and it isn't right at this time.

I supported Obama's choice of economic advisors when he first took office. I am disappointed. Watching them testify before Congress really opened my eyes. Without exception, they are arrogant, proud, high and mighty members of the elite.

Bernanke, Geithner and Summers should agree to spend three months living and I mean using not one cent more than the millions of Americans who now rely on unemployment benefits -- and of course without using health insurance they can't pay for on those benefits. Alternatively, they could try living on the benefit the average Social Security receives (without relying on any money beyond that) for three months. If they experienced three months of living in a tiny cramped ugly apartment in a bad neighborhood eating lots of macaroni and cheese, pork and beans and Campbell's soups, they just might understand why people are unhappy about their performance at this time.

They are not suffering, and that's OK except they show no empathy for the millions of Americans who are impoverished, frightened and suffering. They may just be too insensitive to experience empathy other than as an intellectual exercise that results in a statement like, "It's really sad but . . . .

I realize that I sound harsh, I drew these conclusions after watching their testimony before Congress. If they really had empathy for the American people, they would be crying -- publicly.

[gateley]

19. Yes. Although I'm generally with the 'off with their heads' school, there's something

to be said about what they did accomplish.

On the other hand, I agree with Boxer in that it's time for a new school of thought.

[TheWebHead]

20. I'm not sure there's anyone out there that'll get anymore votes than Ben

the left and right have issues with Bernanke for different reasons and would want a replacement most certainly that suits different objectives, in both cases political, which is dangerous for the independence of the fed and how both equities and foreign governments view our stability. When you have HuffPo trying to get Bernanke to buy off on a political test and be another arm of the white house, then those who only view the fed as an instrument to deal with the economy get concerned and run to the exits... which isn't good for the prospects of job/GDP growth.

[gateley]

21. Yeah -I'm thinking he's pretty much a given. And as Chuck Knox always used

to day "gotta play the hand you're dealt". :)

[TheKentuckian]

12. No. Fuck no.

[taught_me_patience]

16. Hell no

Audit the Fed and we're going to find out, they've taken all the trash MBS from the banks. This fucker is literally showering banks with money.