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Ear to the Ground

Bernanke Up for Round Two as Fed Chief

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Posted on Aug 24, 2009
Bernanke
Wikimedia Commons / United States Federal Reserve

After heading up the Fed during the nation’s biggest economic catastrophe in decades, Federal Reserve Chairman Ben S. Bernanke will be nominated to continue his role for a second term, according to another top Obama adviser, David Axelrod.  —KA

Bloomberg:

Obama will make the announcement tomorrow [Tuesday] on Martha’s Vineyard, Massachusetts, where he is vacationing with his family, and Bernanke is expected to join him, Axelrod said. The nomination requires Senate approval. Bernanke’s four-year term as chairman expires Jan. 31.

“The president believes that Bernanke has provided extraordinary leadership during the most difficult financial crisis we’ve faced since the Great Depression,” Axelrod said. “As we build our economy that leadership is still needed.”

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By hampshire, August 25, 2009 at 10:34 pm Link to this comment
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Good move…. Keep it up.

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By octopus, August 25, 2009 at 5:00 pm Link to this comment

Make Every Day….
Buy Nothing Day.

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By Mario Lopez, August 25, 2009 at 11:04 am Link to this comment
(Unregistered commenter)

Good Move Obama keep up the good work..

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By glider, August 25, 2009 at 10:29 am Link to this comment

All these guys just talk about how they saved us from another Depression as if that is the entirety of the issue.  What they don’t talk about is how they did the fix in the worst way possible, by ripping off the people, enriching the banksters that were the cause of the problem, requiring zero accountability, and leaving us vulnerable to their next set of “financial innovations”.  The government should be printing its own money rather than letting the banks do this with their fractional reserve banking scam.  The drain on our society propagated by these crooks is practically unimaginable.

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By truedigger3, August 25, 2009 at 9:50 am Link to this comment

So, Wall St. and the banksters will keep their boy.
No other errand boy can serve them better and the presses will continue running 24/7.

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By FreeWill, August 25, 2009 at 9:38 am Link to this comment

“You’ve done a heck of a job Beny”  You’ve administered the biggest theft of public funds we have know and got away with it! Bravo!
  You have orchestrated the devolution of US manufacturing to multinational interests and allowed the unemployment levels to reach near depression levels. Job well done!
  You have expanded the Fed and continued to protect the secrecy and unaccountability of its operations. Exceptional!
  You have protected the God of the financial empire Goldman Sachs by killing of its only competitor. Well done!
  And you have brought the average worker to his knees, loosing pensions , health care, savings, jobs, homes,and the American Dream.  Outstanding work!
  My only real question is who is keeping who on for doing a good job?  I think it’s the other way around.  That your in charge here and POTUS works for you!

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Eric L. Prentis's avatar

By Eric L. Prentis, August 25, 2009 at 8:16 am Link to this comment

President Obama, seemingly Bush in Democratic clothing on the economy and the war, lets the plutocracy lead him around and with his reappointment of Fed Chairman Bernanke, the rich continue to control the money and the rest of us get screwed. Giving three trillion dollars to the greedy bankers will do nothing for the economy long-term, we are going to experience another leg down and the plutocracy will say again, “we didn’t see that coming, we need another three trillion taxpayer dollars,” and President Obama will dutifully bend us all over and we’ll get reamed again.

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By thebeerdoctor, August 25, 2009 at 7:20 am Link to this comment

Investor Jimmy Rodgers said that Bernanke thinks the Federal Reserve is simply a giant printing press. Helps keep the red ink flowing.

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By Anarcissie, August 25, 2009 at 7:15 am Link to this comment

C’mon, he did so well the first time around!  One great term deserves an encore!

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By psickmind fraud, August 25, 2009 at 6:48 am Link to this comment

apparently Bernanke is one of many who knows has the dirt on Obama.  How else could you justify the reward for thievery.  I’m sure Goldman Sachs called this shot, as they do all the economic shots in this country now.

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By LostHills, August 24, 2009 at 11:44 pm Link to this comment

This doofus really does want to go down as a one term president…..

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By BlueEagle, August 24, 2009 at 10:15 pm Link to this comment

Thank you mike112769!

HR1207 / S604 - Audit the Fed
Then abolish the Fed.

“You are a den of vipers. I intend to rout you out and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning.”—Andrew Jackson, 1828

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By mike112769, August 24, 2009 at 8:16 pm Link to this comment

The dismantling of that private, corrupt organization known as “The Federal Reserve” would go a long way toward helping WE THE PEOPLE.

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