Ben Bernanke just reconfirmed for another 4 year term

[DJ13]

The vote just happened, per CNBC.

[GodlessBiker]

1. Damn.

[Libertas1776]

2. Also just posted in LBN...

god I feel so fucking sick right now. This guy is an incompetent, worthless piece of shit and of course, he gets reconfirmed.

[GreenTea]

3. Fucking Dems could of stopped this.

[phantom power]

4. AAAAAAAAARRRRRRRRRRR

[Botany]

5. He really isn't that bad

Like it or not some of his actions help stop another great depression .....
He was and is a student of the Great Depression and thinks that the proper
input of capital into the system at time can be a great help/

[taught_me_patience]

6. He couldn't have been more wrong leading up to the crisis

February of 2006: "The economy has shifted from recovery to sustained expansion … The U.S. economy continues to be well positioned for long-term growth."

February 15, 2006: "… The weakness in housing market activity and the slower appreciation of house prices do not seem to have spilled over to any significant extent to other sectors of the economy."

March 28, 2007: “The impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained.”

May 17, 2007: “We do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.”

July 18, 2007: "Employment should continue to expand … The global economy continues to be strong … financial markets have remained supportive of economic growth."

February 27, 2008: "The nonfinancial business sector remains in good financial condition with strong profits, liquid balance sheets, and corporate leverage near historic lows … "By later this year, housing will stop being such a big drag directly on GDP … I am satisfied with the general approach that we’re currently taking."

February 28, 2008: “Among the largest banks, the capital ratios remain good and I don’t expect any serious problems … among the large, internationally active banks that make up a very substantial part of our banking system.”

June 9, 2008: “The risk that the economy has entered a substantial downturn appears to have diminished over the past month or so.”

May 5, 2009: "Currently, we don’t think will get to 10 percent."

[Botany]

9. I think those were b.s. answers in the hopes that if he didn't speak the ...

.... truth things would not be so bad.

Like him or not he is very smart and thought the right way to answer was w/ B.S..

[onenote]

7. good

Its not that he's so terrific, but having the President's nomination fail immediately after the SOTU speech would have made Obama look weak and undermined some of the messages in that speech. Also, it would have set the table for a drawn out, divisive and distracting battle over a replacement that would have further taken the focus off of the president's agenda and the things that he says need to be addressed.

[cloudbase]

8. More business as usual,

despite all the nice words last night. Count me among those cynics the boss referred to.

[Sebastian Doyle]

10. God damn it.

This country will never stop financially bleeding to death as long as a criminal private banking cabal controls our treasury.