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CREDO Calls for a No Vote on Bernanke

Posted by libhom Tuesday, January 26, 2010

photo of Bernanke with bankster over itIt looks like I'm far from alone in calling for action to oppose the nomination of Bernanke to another term in charge of the Federal Reserve Board. I urged people to contact the White House and ask President Obama to withdraw the nomination.

Now, CREDO is calling on Senators to vote against this execrable nominee.

Tell the Senate: Stop Ben Bernanke

It's hard to understand why President Obama would nominate George W. Bush's Federal Reserve Chair, Ben Bernanke, for another four years in office. But now that he has been nominated, the Senate needs to stop Bernanke and refuse to confirm him.

Faced with many difficult choices since the crisis erupted, he has led the Fed in providing massive financial support to a handful of giant banks and investment firms -- literally trillions of dollars of loans, investments and guarantees -- while doing literally nothing to help the millions of homeowners facing foreclosure.

Tell your Senators it's time to end George W. Bush's legacy at the Fed by voting "no" on Ben Bernanke.

Why would we want more of the same? Bernanke was appointed by President George W. Bush, and his choices reflect the choices of the Bush administration. There are plenty of fully-qualified economists who can pursue the Fed's mandate of price stability and full employment without such a shocking bias toward "too big to fail" banks or such manifest disregard for the "full employment" part of the equation.

At every opportunity, Bernanke has given preference to banks and investors over consumers and borrowers. His performance in his first term has been unacceptable. Granting him a second term ought to be unthinkable. Yet his reappointment is being supported by the Obama administration so it's up to the Senate to stop him.

Tell the Senate to vote "no" on giving Bush's Federal Reserve Chair another four years.

I rather like the heading of the email text I got from them.
Another message from Massachusetts: Dump Ben Bernanke

There is a lot of anger in Massachusetts and nationwide in how Bernanke and his bankster buddies committed the biggest bank heist in world history. There also were a lot of disillusioned Democrats who stayed home on election day because Obama and Senate Democrats have governed way too much like Republicans.

Rewarding a proven failure like Bernanke to another term at the Fed reminds me of when Bush said "Heck of a job, Brownie" after the lack of action to help the people in New Orleans. Rewarding gross negligence and corruption is something many of us hoped would go away when Bush ended his illegal occupancy of the White House.

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4 comments

  1. Oso Says:
  2. Didn't know this.I'm a Credo customer, good works even though they suck.

     
  3. Jolly Roger Says:
  4. Faced with many difficult choices since the crisis erupted, he has led the Fed in providing massive financial support to a handful of giant banks and investment firms -- literally trillions of dollars of loans, investments and guarantees -- while doing literally nothing to help the millions of homeowners facing foreclosure.


    And this is exactly why he will be reconfirmed.

     
  5. GDAEman Says:
  6. My most recent message to the White House:

    Deeds not words. Withdraw Bernanke's nomination and nominate someone who has a record of siding with the interests of people over the corporate investment banks.

     
  7. Christopher Says:
  8. Too bad Obama held onto Bush's shitty choice.

    But, Obama held onto Bernanke as if he knew where all the bodies are buried and was afraid to let him go for fear he would come forward.

    The president needs to clean house in a major way. Fire Bernanke, Geithner, Sumners, Gates, and Clinton.

     

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