Dear Bloomberg, Please Stop Rubbing Ben Bernanke's Balls
Do I have your attention now?
Ben S. Bernanke’s success in averting another U.S. depression means President Barack Obama will probably nominate him for a second term as Federal Reserve chairman, according to lawmakers, economists and investors.
The need for continuity in managing the economy and Wall Street’s desire for consistency in monetary policy may leave Obama little choice when Bernanke’s term as chairman expires Jan. 31. While White House National Economic Council Director Lawrence Summers has been a contender, there’s little sign of any move to install him at the Fed.
Bernanke’s “judgment, his advice, his competence, really made a significant difference,” said Jack Reed, the No. 3 Democrat on the Senate Banking Committee, which oversees the Fed. “Frankly, I haven’t heard any arguments” for putting Summers in the job, he said.
“I don’t want to say Bernanke’s Teflon at this point, but the market would be very, very disturbed if he weren’t reappointed,” said Dan Alpert, a managing director of New York- based investment bank Westwood Capital LLC and specialist in distressed debt who has provided expert testimony in U.S. bankruptcy-court cases. “Do you replace generals in the middle of a war? And the answer is no.”
I especially found this to be entertainment: "San Francisco Federal Reserve Bank President Janet Yellen, who would be the first woman to head the U.S. central bank, is the top replacement contender according to InTrade, at 20 percent odds."
Listen, I'm all for women breaking through the glass ceiling and all but please, please, not this woman, anyone but her!
Seriously, Bloomberg, you can do better.