Archive → January 24th, 2010
Bernanke second term in doubt
Federal Reserve chairman Ben Bernanke lives in the shadow of predecessor Alan Greenspan; and now, with the economy faltering largely under his leadership, the wizard of bailouts now looks like his second term is in doubt.
Although Obama has announced his intention to renominate Bernanke for a second term, key Democrats are off the bandwagon and the Fed Chair needs 60 votes to survive. The support of GOP lawmakers is in doubt because of Bernanke’s poor job performance handling the US economy.
Dems want Bernanke out, but for their own reasons; Obama would then be free to nominate someone of his own choosing. While no one’s issuing insurance quote on Bernanke’s job security, and the President is currently supportive, that could change if it becomes clear that Bernanke doesn’t have the votes to survive.
Of course, the administration is sounding all gloom-and-doom of Bernanke isn’t reappointed, but really… after the way he’s handled the economy in his first term, how bad does a Fed Reserve Chair have to screw up before making a change would be seen in a positive light?
Sure, I don’t trust Obama to appoint anyone who’s better… but I also doubt it could get worse much more quickly under anyone else, since the economy’s still spiraling downward under Bernanke anyway.
Dodd calls for health-care time out
Democratic incumbent Chris Dodd, facing strong GOP opposition in his own home state and who decided not to run for re-election as a result, is going down swinging at anyone he can connect with… fellow Dems included. Following last week’s GOP success in Massachusetts, the nothing-to-lose senator from Connecticut suggested his party should take at least a one-month time out from trying to reform health care, to allow everyone to regroup following his party’s loss of its filibuster-proof majority.
Dodd’s need for an effective fat burner diet pill aside, he provided a rare common-sense comment on the issue he was demagoguing to swift passage only a few days ago. Dodd apparently blames the Obama-Reid-Pelosi hardball push on health care reform on his own perilous drop in the polls and “voluntary” decision not to run for re-election.
Interesting. Very interesting.
