Washington Post: Ben Bernanke Has Earned Second Term

Washington Post:

Facing a Senate confirmation vote on a second four-year term as chairman of the Federal Reserve, Ben S. Bernanke finds himself under attack from both ends of the political spectrum. Libertarian Rep. Ron Paul (R-Tex.), abetted by a number of liberal Democrats, has made Mr. Bernanke's alleged failures a principal argument for his bill to subject the Fed to intrusive congressional auditing. Sen. Bernard Sanders (I-Vt.), a self-described democratic socialist, has announced that he will put a "hold" on Mr. Bernanke's renomination, forcing the Senate to come up with 60 votes to proceed to a vote. The wrong-headedness of this left-right pincer emphasizes the moderate wisdom of President Obama's decision to offer Mr. Bernanke another term.

Read the whole story: Washington Post

Comments

[OB-GYN]

08:46 AM on 12/05/2009

I read WaPo's editorial in full over coffee with growing acid indigestion by the end of the editorial.

Hint to WaPo, you're off the pulse of your readership now, which is clearly cutting in to your subscription rate. One reason, imho, newspapers are hurting is lack of identification with their editorials and poor selection of front page news.

Anyway, heck no, Ben Bernanke should not be confirmed. His Willie Horton comment on entitlements alone, which can be interpreted many ways, none good, shows he's off the mark and has loss the trust of the American people in his position.

President Obama and Congress serve the American People in maintaining this Democracy, not to be confused with the word Plutocracy. Hear hear!

[invest in jobs]

06:11 PM on 12/04/2009

I was hoping for FDR 2.0, but instead its become waffling 2.0, deficit 2.0, banking 2.0, Afghanistan 2.0. Iraq 2.0, Guantanamo 2.0

hat tip to: http://financeopinionss.blogspot.com
so much for job creation. Unemployment falls a whole .2% and the MSM is calling it a recovery. what a joke

[Chazmania]

02:56 PM on 12/04/2009

If he gets a second term it is a clear indication that the bankers have full control of our government!
And that the washington post is in collusion with them!

[Chazmania]

02:59 PM on 12/04/2009

It sure is a shame that the American people can no longer tell truth from lies!
Bold faced Bernanke is the latter!

[NCNative]

12:11 AM on 12/08/2009

Totally agree with you...

[ljc]

02:32 PM on 12/04/2009

Bernie Sanders place the hold yesterday. After watching his explanation, we should all agree.

http://www.youtube.com/watch?v=UyTngPXCTz8

[hmargret]

02:30 PM on 12/04/2009

DUMP BERNANKE.

this stooge calls Social Security and Medicare "entitlements"

Dump this errand boy for big banking.

Obama is not about change. he's a Trojan Horse.

[MiHi]

11:41 AM on 12/04/2009

More plutocratic propaganda from the Washington COMpost.

[ClarcKing]

10:54 AM on 12/04/2009

Has the Washington Post ever been a real news organization, and service to the American people? Are they relevant now?

Usury, Speculation, Trillions for banksters, speculators, gamblers, unknown recipients. Market forces for the citizenry: outsourced jobs and industry, a slave labor force from south of the border, chronic unemployment, healthcare?, bankruptcies, foreclosures, homelessness, nearly every state bankrupt, etc.; all done under the economic directives of the Fed.

The United States is in a national security crisis; an economic catastrophe hovering over the population. The United States must implement economy formation measures now, or the U.S. economy will stop functioning; ergo the world economy; a threat to the population as all out war.

Congress must stop dedicating the financial resources of the nation to the enemies of the United States.

The compounding destruction to the physical economy is located in the submission of the United States in bailing out Globilization, the international monetary debt based financier system, that demands unsustainable usury and speculation on every financial transaction; on the essentials of life: food, water, energy, healthcare, housing, education, etc: Further submission in the elimination of all the gains of labor and production; the suppression of scientific progress and its' technological derivatives; the acceptance of an economic and population contraction policy; the perpetual war policy.

The United States must confront the International Monetary Financier Power; must lead and cooperate with other nations in reorganizing the world economic / financial system.

[iridium53]

10:43 AM on 12/04/2009

Couldn't disagree more.

Bernanke has earned the maximum opprobrium possible.

Bernanke, Geithner, Summers and Obama have ignored the problems of the average American and transferred $Trillions to the biggest companies so they can make windfall profits.

The effort was paid for by the taxpayer and benefitted us not at all.
Certainly no letup in bankruptcies or foreclosures.
Certainly no loans to the rapidly disappearing middle-class or small business.
Just profits for a few really big banks. And, still not a bit of legislation to control bad bankster behavior.

Dump Bernanke.

Somebody else in 2012.

[higherstrategy]

09:50 AM on 12/04/2009

it just gets more and more obvious how much control over the MEDIA these Banks, corporations and FED have.

[niblik]

01:04 PM on 12/04/2009

Hopefully more folks are going to pay attention to this.

I'm not excited to hear that Comcast is trying to gulp down ABC currently...

[vlm1948]

08:35 AM on 12/04/2009

In jail hopefully.

[Tiggy]

08:14 AM on 12/04/2009

A sign of the times! Yesterday while driving past a home I noticed a beautiful large Nativity Scene covered with a black tarp and a handmade sign that read "Under Foreclosure!" How fitting of a depiction and visual is that to express where we are opposed to where we came from? Adding Thanks to Ben and the Banks to the sign would not hamper the meaning in the slightest.

[Gewyne]

07:58 AM on 12/04/2009

The Fed needs to be transparent and Bernake will never let that happen - he must go.

How much currency is there actually out there and how much is being printed ? How much has been lent free to institutions, who is being propped up and why?

You cannot have a capitalist system working like this. The companies buying up gold, are they doing so at the official gold value or just buying gold at the less than .038 cents it costs to print a dollar. Not bad to be then able to sale the gold, make a huge profit and give the money back tot he Fed who then just cross it of their sheet paid out, paid in, no longer exists (other than the fact someone now owns a real asset that they have got for free).

If you want to know why the Fed is able to do what it does and why it is not audited or transparent, imagine if over your whole life you could take what you wanted for free and never had to disclose it. At first you would be tentative, then maybe something here, something there, something for your friends...

[Tiggy]

07:29 AM on 12/04/2009

Yes, by all means allow me to be a bystandard who does nothing to warn the person a car is coming then rush over to offer assistance once the person has been struck. Hero you say? Right!

[rgilley]

07:07 AM on 12/04/2009

The Washington Post .... hmmm isn't that Murdock's new venture?
So because this Australian tells the US Bernake has earned another term we should listen?
Isn't he one of the people who helped get us where we are?

Or is it the whole Fed that is responsible? I think it should be torn down and never spoken of again.
Let bernake go make an honest living!

[sonofsamphm1c]

07:34 AM on 12/04/2009

Murdoch owns the WSJ, which is calling for Bernanke to be dropped.

[schatsie]

08:32 AM on 12/04/2009

That is right, Warren Buffett owns the Washington Post....same argument...let Bernanke go to work for Warren....

[JXJASON]

05:28 AM on 12/04/2009

Obama made a mistake renominating Ben Bernanke.

Bernanke must go; followed by Larry Sommers and Tim Geithner.

[GenosseJoe]

06:56 AM on 12/04/2009

Obama needs such spineless people like Geithner and Bernanke in charge of the national finances.

Bernanke is a disaster precisely because he is spineless and killing our dollar to please the Administration.

It looks like before his re-nomination Obama had allowed hin to sound a little bit more professional and hint that money do not grow on a tree.

To me it all looks arranged (like good cop - pad cop) and after re-nomination he will continue to sell our dollar down the Hudson river of the United Nation.

Funny, but many of people on the left are mad at him for that recent common sense statement and not because of his previous years of lying to the nation.