Markets will shoot up tomorrow: Obama to Nominate Bernanke to 2nd Term

[Uzybone]

http://www.nytimes.com/2009/08/25/business/25bernanke.html?hp

The nomination, while expected, comes after Mr. Bernanke has had perhaps the most tumultuous term of any Fed chairman, helping to steer the economy through its greatest downturn since the 1930's. Mr. Bernanke is a Republican who was appointed by President George W. Bush.

A top White House official said Mr. Obama had decided to keep Mr. Bernanke at the helm of the Fed because he had been bold and brilliant in his attempts to combat the financial crisis and the current deep economic recession.
"The president thinks that Ben's done a great job as Fed chairman, that he has helped the economy through one of the worst experiences since the Great Depression and that he has essentially been pulling the economy back from the brink of what would have been the second Great Depression,'' an administraiton official said on Monday night.

Mr. Obama will appear with Mr. Bernanke on Tuesday in Martha's Vineyard, where Mr. Obama is vacationing for the week.

No surprise here.

[Hawkeye-X]

1. I reject Bernake. I think it's time for a fresh Democratic ideal.

No more REPUBLICAN ASSHOLES, PLEASE.

We had Greenspan, and now Bernanke, both irresponsible Republicans.

I want Obama to ask for Bernakes resignation tomorrow so he can put a man - maybe Krugman in.

Hawkeye-X

[IndianaGreen]

3. Bernanke presided over the Wall Street meltdown

He is useless!

[DrToast]

4. I'll take Bernanke over Larry Summers any day

And why Krugman? Because he's a liberal? I guess it doesn't even matter that his field isn't monetary policy.

Bernanke is a good choice.

[DrToast]

5. By the way, Krugman endorsed Bernanke

http://www.huffingtonpost.com/2009/08/09/krugman-bernanke-should-b_n_255136.html

[Arkana]

13. But Krugman is only right when he's lambasting Obama, doncha know.

[vaberella]

18. Yup...otherwise he's thrown under the bus right quick.

Now they have a new economist they pimp out when they want negative posts on Obama's economic plan, Rubini.

[jonnyblitz]

20. and Obama followers do the same thing in reverse, you quote

Krugman when he supports Obama, throw him under the bus when he doesn't. :crazy:

[vaberella]

27. Nope. I NEVER quoted him. ^_^

I just mock those who pimp him out when he says something negative about Obama, when he says something positive for O. Other than that, I don't hold him up to much steam. I studied economics. No economist has a clue or really has a good handle at anything. They all have claims and ideas which can be proven true or false. It's always up in the air. Everything is hypothetical until it's ethier proven false based on a set of circumstances.

Hence the reason I don't depend on them too much. It's good to listen to sudies and gain some perspective but I wouldn't hold anyone as pure gold in order to pimp one out. So no, you'll never have seen me quote him or believe his words are gold. But I have mocked posters by saying..."I thought the economy would collapse under Obama." "I guess Krugman is taking back his previous claims." and I've said, "Krugman has made some infammatory comments without knowing the full extent of the situaton---which he even states."

[girl gone mad]

26. You could at least learn to spell his name correctly.

[vaberella]

28. Mistakes happen, get over it. n/t

[quiller4]

22. I'm glad the president thinks differently than you do and actually values expertise.

[theoldman]

2. Bernanke is like a breath of fresh air.

He is not a miracle worker but I am sure that he will make some good decision.

[bertman]

6. More cronyism. Hard to believe there's NO PERSON capable of replacing the oblivious

Mr. Bernanke.

This just proves again that no one at any high level of government or public service is accountable for anything. They just get promoted or given a Medal of Freedom when they fuck up.

Disgusting.

[Cali_Democrat]

7. Cronyism means that you are partial to long term friends by appointing them to positions of power

Bernanke was already there before Obama became President and I really don't think they're friends.

There are other reasons behind the appointment.

[bertman]

10. You are assuming that Bernanke is friends with Obama. I am assuming Bernanke's friends

are the same ones who are directing Obama in his financial/political selections, namely the Wall Streeters and Banksters who are his heaviest $$ contributors. The folks who run Wall Street are all part of the same elite group who have known and worked with each other for years, hence they are cronies. The good old boys' network writ large.

[DrToast]

8. "You keep using that word"

[bertman]

11. See post above, please.

P.S. that's funny!

[JTFrog]

15. LOL! n/t

[phleshdef]

24. You obviously don't know what "cronyism" even means and Bernanke has EARNED this.

He has done a damn fine job working with the Obama administration on steering the economy out of meltdown. Go read a dictionary, then come back and make more posts.

[Speck Tater]

9. "Heck of a job, Benny." nt

[scheming daemons]

12. DOW 10,000 by end of the week

Save this post.

[vaberella]

17. That means we're back to normal? Shite! That was fast.

I remember when so many were bashing Obama for Geithner and the economic plan he mapped out. Now, everything seems to have bloody well worked out. Shoot, it's seriously crazy and it was done so fast With that under way in a year to two years he's probably going to have people employed up the wazoo.

[jefferson_dem]

19. +1.

The Obama Recovery is full swing, baby!

[vaberella]

30. Seems that way. I wonder if the history books will grant him that success. n/t

[lamp_shade]

14. I like the guy. I have a lot of confidence in him.

[vaberella]

16. I don't like Paulson or Bernanke but damnit I will never deny they have crazy power over the market.

nt

[Thrill]

21. Krugman last week was saying Bernanke should be reappointed

Funny the same people up here who praise Krugman, are not happy with Bernanke being reappointed

[vaberella]

29. It's weird.

I'm no Krugman supporter, nor do I love Bernanke. But I've been following the market closely since Bernanke and Paulson have been around and there is no way I can sit there an say that "the market" (if we look at it as a functioning entity) doesn't seem wholely dependent on the words and/or actions of Bernanke. He says things are good and it's bright skies. Things don't look good and it's misery ahead.

[Milspec]

23. +1, this is a good appointment.

[Rosa Luxemburg]

25. Yes I could buy him a beer