Bernanke to Be Nominated by Obama for Second Term as Federal Reserve Chief

Bernanke to Be Nominated by Obama for Second Term as Federal Reserve Chief

www.bloomberg.com

Aug. 25 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke, who led the biggest expansion of the central bank’s power in its 95-year history to battle the worst economic slump since the Great Depression, will be nominated to a second term by President Barack Obama.

Bernanke “has led the Fed through the one of the worst financial crises that this nation and this world have ever faced,” Obama said in remarks prepared for delivery today in Martha’s Vineyard, Massachusetts, where Bernanke is to join him.

(visit the link for the full news article)

This is big news, and as much as I don't like the Fed, a big relief to me. I was afraid Obama was going to appoint Larry Summers who imo would be more of a puppet that the White House could control and get to buy U.S. debt even more to fund the new government spending. You can say what you want about Bernanke, but I'll take him over Larry Summers any day of the week.

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

Not to be snide or anything, but it's not like it really matters who the Federal Reserve Chief is... Bernanke is just as much of a scumbag as Summers, they all are.

Too many chiefs, not enough indians. We need more indians.

Although I wouldn't be shocked by anything or anybody that the Admin appoints as Chief of the Fed but IMO it would be interesting with Summers instead of Bernanke as Summers is so much bigger fool and would fall to the pressure of all the questioning. Maybe he would even slip up so badly we might find out something new lol... Their all crooks!

reply to post by yellowcard


Obviously I don't know enough about Summers because hearing this news triggered an overwhelming sense of disgust in me. Bernake is the face of this financial crisis to me, so to reward him with a second term is appalling to me.

Like Rams59lb said, they are all crooks so I guess in the end it doesn't really matter.

Already discussed here: www.abovetopsecret.com...