Friday, January 22, 2010

Obamacare Dies, ..next up BERNANKE?

The election of Scott Brown means that unless the House adopted the Senate Health Care Bill letter for letter, a new vote requiring 60 votes would be needed in the senate.


Pelosi now admits, that cannot happen. DOA, and a hope for common sense and cooperation including the two main ideas of Demint and the repubs... free, open competition of health care plans nationally in all states, and tort reform. I would HOPE substantial negotiation would allow for many democratic objectives if both of these would be included. It would also have one more minor detail attached.... IT WOULD BE BENEFICIAL TO THE PEOPLE.


Next .. Bernanke..

Amidst the voter anger at Wall Street and Washington, D.C., ABC News has learned that the Senate Democratic leadership isn't sure there are enough votes to re-confirm Ben Bernanke for another term as chairman of the Federal Reserve.

Bernanke's term expires on Jan. 31.

The White House did not respond to many requests for comment.

"The American people are disgusted with the greed and recklessness of Wall Street," Sen. Bernie Sanders, I-Vt., said in an interview with The Associated Press last month. "People are asking, 'Why didn't the Fed intervene at the appropriate time to stop the casino-type activities of large financial companies?'"

Sanders, Sen. Jim Bunning, R-Ky., Sen. Jim DeMint, R-S.C., and Sen. David Vitter, R-La., have all put holds on Bernanke's nomination, requiring 60 votes to proceed to a vote.

Voter anger is of heightened concern to members of Congress given the surprise victory of Sen.-elect Scott Brown, R-Mass., who rode a tide of voter discontent and economic anxiety to an upset victory in a special election earlier this week.

Last month, the Senate Banking Committee voted in favor of Bernanke's nomination by a vote of 16-7, not exactly a reflection of overwhelming positive feelings towards the Fed chair given the fact that he was first appointed in 2006 by President George W. Bush and nominated by President Obama for a second term last August.

Senate Majority Leader Harry Reid, D-Nev., at one point was planning on scheduling a vote on Bernanke for Friday, but the Senate is currently in the midst of a debate over raising the debt limit and the vote has been pushed.

I smell a scapegoat coming, Justified or not. Bernanke REPRESENTS what too many of the people despise right now.


Irresponsible, nation threatening debt.

Irresponsible printing and automagic money creation.

Irresponsible expansion of govt power


Congress MIGHT be awakening to a dawn where this is not going to be acceptable, or they find themselves ex-congressmen and ex-senators.


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3 comments:

Pastorius said...

Epa,
What do you think of the fact that Obama wants to start taxing banks on money they loan?

Pastorius said...

Oh, and question; what should Bernanke have done about Wall St. greed? And, what is the greed of which you speak? Are you referring to paying Execs bonuses when the economy is tanking, or when the company itself is tanking?

Pastorius said...

Jawa Report:


Riddle Me This

This is a question for the Obamacrats.

How is increasing regulation to choke-hold levels not seen since FDR, attacking banks, threatening lending institutions (making lending harder), attacking hedge funds and destroying the financial sector going to create jobs? What does this do to help create jobs?