Obama wants Bernanke back for a second term as Fed head. Thank goodness, because I just learned how to spell his name correctly.
It is a controversial choice. Bernanke oversaw, with perfect 20-20 hindsight, the worst recession in US history and the massive taxpayer give-away leave no bank behind program. In older times cruel and unusual punishment would normally follow. In modern times we rehire with a raise.
More housing data will be coming out this a.m. One might suspect that the housing data more than Bernanke's second tour will affect morning trade.
Reuters: Stock futures up on Bernanke news; housing data eyed
U.S. President Barack Obama will renominate Ben Bernanke for a second term as chairman of the Fed on Tuesday...
3 comments:
"It is a controversial choice. Bernanke oversaw, with perfect 20-20 hindsight, the worst recession in US history and the massive taxpayer give-away leave no bank behind program. In older times cruel and unusual punishment would normally follow. In modern times we rehire with a raise."
I couldn't have said it better! It seems OBAMA is following right along with the BV$HITE tradition of rewarding failure hugely. Sends a great signal to everyone else doesn't it? It says take care of the elites and get rewarded, help anyone else and get pilloried in the MSM and by the RIGHT WING Noise machine. In America there apparently is NO worse crime then rewarding in anyway the losers AKA 90% of us. This is in reality the REAL reason reforming Health care is nearly impossible.
Obama needs to drop the Ghandi thing. This is America, home of the UFC, Limbaugh, and millions of crazy wingnuts. You can't compromise with these people. He thinks he's reasoning with John McCain.
I agree. The kind of mass pychosis that haunts the right these days is unfortunately the same kind of fertile rottenness that gave rise to other radical regimes on this planet and I don't need to mention them all. In America I think were more likely to see the rise of a Peron ( Argentina) type Dictatorship @ some pt. in the future. We seem to like personality kult regimes. The right hates democracy that's for sure.
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