Happy Early Birthday, Bernanke. Your Gift is Chris Dodd Up Your A$$ets
Can you think of a more miserable way to spend the days leading up to your birthday? Told you you should have taken up my invitation to spend our birthday today at Chuck E Cheese, Bernanke. Your loss.
Sen. Chris Dodd (D., Conn.) today announced that Ben Bernanke’s reappointment hearing will be held on Dec. 3, the same day as President Barack Obama’s jobs summit, and said the Federal Reserve chairman’s confirmation isn’t necessarily a foregone conclusion.
Bernanke’s reappointment has been widely expected to move through the Senate fairly smoothly. In August Sen. Dodd issued a statement supportive of the Fed chairman. “Chairman Bernanke was too slow to act during the early stages of the foreclosure crisis, but he ultimately demonstrated effective leadership and his reappointment sends the right signal to the markets.”
Sen. Dodd was more reserved in a brief interview with videoblogger Mike Stark. “I’m inclined to be supportive. I think he’s done a far better job in the last couple of years than he did initially,” said Dodd, adding that the reappointment isn’t necessarily a foregone conclusion. In his financial overhaul bill, Dodd has proposed stripping many of the Fed’s regulatory powers.
I would like to know what Chris Dodd knows about markets and the signals that they are supposed to be getting. Bernanke's reappointment read "fuck the Chinese" unless I have interpreted that action incorrectly.
In totally related news, this Geithner tantrum is turning out to be quite the story.