Bernanke Jumps Out of Political Fray After Warning of Collapse

Bernanke Jumps Out of Political Fray After Warning of Collapse

www.bloomberg.com

Ben S. Bernanke jumped into the political fray this week when he urged quick action from Congress to deal with ``grave threats'' to the financial system. Now he's trying to jump back out.

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So he was for the Bailout and putting the fed in the fray thinking Congress would jump right on that bailout and get it passed as is. Now that its not going to be passed this week he's pulling out? Trying to look neutral and playing politics as usual. I thought it was only political candidates that flip flopped positions now i see anyone in Washington can Flip flop

www.bloomberg.com
(visit the link for the full news article)

[edit on 9/27/2008 by Mercenary2007]

Originally posted by Mercenary2007

So he was for the Bailout and putting the fed in the fray thinking Congress would jump right on that bailout and get it passed as is. Now that its not going to be passed this week he's pulling out? Trying to look neutral and playing politics as usual. I thought it was only political candidates that flip flopped positions now i see anyone in Washington can Flip flop

www.bloomberg.com
(visit the link for the full news article)

[edit on 9/27/2008 by Mercenary2007]

Actually, if you've watched the hearings at all, you'd know it hasn't been the Fed that has been pushing this hard, it has been the Treasury. During the hearings Bernanke simple tells of the economic situation, and actually has advised or admitted that revisions were welcome. Paulson has been quite pushy about it...in the hearings on Thursday. Paulson actually gave Bernanke what some might call the "stink eye," when he suggested some revisions or future legislation that could help the economy.

I have been watching the hearings and your right mostly he's letting Mr.Paulson be the Point man But he's been pushing from behind. and until he appeared before the senate committee the other day he wasn't for changes being made he like Mr.Paulson and GW wanted the bill passed ASAP without change.

Now that things don't look good for the bill and most of the American taxpayers are opposed to any kind of bailout he's jumping out of the fray to make it appear the fed wants to be neutral in this mess. So he can push from behind the scenes or prepare the Fed for the next round of action whatever that may be.