UPDATE: Herman Cain withdraws bid to join Federal Reserve

[BumRushDaShow]

Source: Washington Post



Herman Cain, President Trump's planned nominee for the Federal Reserve, withdrew from consideration on Monday, after a lack of Republican support in the Senate doomed his prospects for confirmation.

President Trump made the announcement on Twitter, writing, "My friend Herman Cain, a truly wonderful man, has asked me not to nominate him for a seat on the Federal Reserve Board. I will respect his wishes. Herman is a great American who truly loves our Country!"

Cain would have needed near-unanimous Republican backing in the Senate for confirmation. But four Republicans have said they would not vote for the nominee, effectively killing his chances since Republicans hold 53 seats in the Senate and no Democrats were expected to support him. Cain had maintained as recently as late last week that he'd continue to vie for the role.

Trump's plan to pick Cain, a 2012 GOP presidential primary candidate and restaurant industry executive, was immediately controversial when the president announced Cain was his choice earlier this month.

Read more: https://www.washingtonpost.com/business/economy/herman-cain-withdraws-bid-to-join-fed-after-republicans-sink-trumps-pick/2019/04/22/b755a770-5d33-11e9-842d-7d3ed7eb3957_story.html

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Original article -

By Washington Post Staff
April 22 at 12:23 PM

President Trump said on Twitter that former GOP presidential candidate Herman Cain would not be a candidate for the Fed seat.

The decision comes after four GOP senators refused to back Cain, all but dooming his confirmation and pausing Trump's effort to add political allies to the independent central bank.


This is a developing story. It will be updated.

https://www.washingtonpost.com/news/business/wp/2019/04/22/herman-cain-withdraws-from-consideration-for-the-federal-reserve/?utm_term.7e1342ed3e9c

Obligatory parting shot -

[SharonAnn]

1. Well, d'uh.

[C_U_L8R]

2. Again? I thought he withdrew a couple of weeks ago.

[PSPS]

15. He did, and for the same reason. Even the kremlin's senators won't vote to confirm.

[mahatmakanejeeves]

3. You're on a roll today. NT

[BumRushDaShow]

7. WaPo is on a roll. They have been banging them out!

[safeinOhio]

4. Nein, Nein, Nein,, Herman's

German plan for the Fed.

[TheCowsCameHome]

5. Four toppings short of the House Special.

Adios, moron.

[elleng]

6. Sen. Kevin Cramer (N.D.), on Thursday joined three other Republicans --

Sens. Mitt Romney (Utah), Lisa Murkowski (Alaska) and Cory Gardner (Colo.)

[brooklynite]

8. Does Herman Cain know this?

[BumRushDaShow]

9. Does he like 9s?

[justhanginon]

10. After all the trauma of being one of trump's nominees, Herman Cain

is probably going to take a few weeks off and vacation in beautiful Ubeki-beki-beki-stan-stan. Bon Voyage Herman!

[no_hypocrisy]

11. Drinks for the house!

[BumRushDaShow]

12. You forgot the drinks!!!

[Mr.Bill]

13. I'm sure Trump can find someone far worse and unqualified.

Maybe Sarah Palin? How about Ted Nugent?

[KY_EnviroGuy]

25. I was thinking either Rudy or Newt.....

With tRump, we know it will certainly be worse, not better.

The Dotard's comments are fake cover for him never admitting his mistakes. We can bet that Cain was instructed to withdraw.

[muntrv]

14. Did he say nein nein nein?

[calimary]

16. You mean Mr. Becky-Becky-Becky-Stan-Stan is stepping away?

What will Becky say?

[FakeNoose]

17. If only Bill Barr had done the same

One down, 999 to go.

[jgmiller]

18. This is great but...

let's not forget that Cain at least served on the KC fed before so he does have some clue and he didn't break the system. The real problem is Stephen Moore, that man is truly dangerous and I'm afraid that all this focus on Cain is going to allow them to push Moore through. I would have rather had Cain on there and not Moore if I had to choose between them.

[not fooled]

21. Yes

Cain was the useful idiot wackadoodle to make fellow crackpot Moore look good enough by comparison that the latter can slide into a seat on the Fed. Moore will do real damage. If red don gets his way monetary policy will be further degraded to focus on maximizing his chances of reelection in 2020. The nation will be left without sufficient room to navigate out of the next recession.

[maxsolomon]

19. Mission Accomplished, however

More noise, more space in the media taken up, more distraction, more more time wasted fighting absurdities, more institutions debased.

[SunSeeker]

20. It shows the GOP will stand up to Trump when it comes to protecting their money.

They knew putting Cain on the Fed would be devastating to the economy--and their donors' pocketbooks.

[Historic NY]

22. Gone, gone, gone

[Yo_Mama_Been_Loggin]

23. Back to making shitty pizza

[gopiscrap]

24. sounds like nine, nine, nine just got

deep sixed!!!!

[Roy Rolling]

26. I'm Devastated!

I was looking forward to more shucky-ducky on the Fed.

[3Hotdogs]

27. Fuck. and I was looking forward to my gold bullion increasing in value.

[JohnnyRingo]

28. I'm sure Trump has someone much worse waiting in the wings.

Maybe Rush Limbaugh who has a calculator on his phone.

Sadly, Trump is just looking for someone who will follow his orders because no one on Earth knows more about economics than himself. There goes what's left of my pension to runaway inflation.

[padah513]

29. I don't think he did

I think the choice was made for him. Either way good riddance. One down, one to go.

[George II]

30. From a guy that lies constantly, he sure used the word "truly" quite a bit.

[kimbutgar]

31. That long time mistress was really messing up his narrative

She was not going away and would hVe dragged him down further.

Next Stephen Moore needs to remove himself.

[JustABozoOnThisBus]

32. It's only Monday. He'll ponder his greatness, then re-propose himself as best.

Herman is Herman's biggest fan.

[muriel_volestrangler]

33. Cain exemplifies the 'sour grapes' fable while trying to say he didn't want it anyway

Herman Cain explains his reasons for withdrawing from consideration for the Federal Reserve. For one thing, he said it would have been a big pay cut.

“I also started wondering if I’d be giving up too much influence to get a little bit of policy impact,” Cain wrote. “With my current media activities, I can reach close to 4 million people a month with the ideas I believe in. If I gave that up for one seat on the Fed board, would that be a good trade-off?”

https://www.theguardian.com/us-news/live/2019/apr/22/trump-news-today-latest-live-mueller-2020-updates-democrats-impeachment?page=with:block-5cbe29e08f085bb0e0de6579#block-5cbe29e08f085bb0e0de6579

WTF does he do now? Blolivate on Fox News, as far as I can tell.