Saturday, December 19, 2009

Bernanke Withdraws Nomination!!!

Yes. I know. It has not happened. Yet. But it may. After the Senate Banking Committee vote of 16-7, "Helicopter Ben" is not a shoo-in for another term. Yes, it is likely he would be able to garner 60 or more votes if he and the administration pushed hard enough. But there are probably enough Democrats who would be comfortable with Janet Yellen and enough Republicans who would be happy with anyone but Bernanke. With Chris Dodd successfully moving the re-nomination through committee he can tell his financial handlers that he did what he could, but Ben was just too unpopular. Especially in an upcoming election year.

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