BREAKING: Dems Muster All of One Vote Against Bernanke

by: David Sirota

Thu Dec 17, 2009 at 11:49


Democrats mustered one vote against the confirmation of Bush Fed chairman Ben Bernanke, the man who admitted he fell down on the regulatory job; the man who then handed over trillions of dollars to Wall Street to try to clean up his mess. The man who was named "Person of the Year" by the same magazine that had a cover story calling Alan Greenspan, Bob Rubin and Larry Summers "The Committee to Save the World." Here's the vote:
David Sirota :: BREAKING: Dems Muster All of One Vote Against Bernanke
FINAL BANKING COMMITTEE VOTE ON BERNANKE

Yes - 16

No - 7

Majority
Christopher Dodd, Chairman, Connecticut Yes
Tim Johnson, South Dakota Yes
Jack Reed, Rhode Island Yes
Chuck Schumer, New York Yes
Evan Bayh, Indiana Yes
Robert Menendez, New Jersey Yes
Daniel Akaka, Hawaii Yes
Sherrod Brown, Ohio Yes
Jon Tester, Montana Yes
Mark Warner, Virginia - Yes
Jeff Merkley, Oregon - No
Herb Kohl, Wisconsin Yes
Michael Bennet, Colorado Yes

Minority
Richard Shelby, Ranking Member, Alabama No
Bob Bennett, Utah Yes
Jim Bunning, Kentucky No
Mike Crapo, Idaho No
Bob Corker, Tennessee Yes
Jim DeMint, South Carolina - No
David Vitter, Louisiana  - No
Mike Johanns, Nebraska Yes
Kay Bailey Hutchison, Texas - No
Judd Gregg, New Hampshire - Yes

Huge kudos to Democrat Jeff Merkley of Oregon and, frankly, to the Republicans who voted against Bernanke (even if many of the Republicans were probably just trying to embarrass Obama).

To the rest of them, well...there's really nothing to say. This is about as good a commentary on who the Democratic Party really answers to as any.


Tags: (All Tags)
Print Friendly View Send As Email

He almost spat into their faces, with his GOP talking points, but no consequences! (4.00 / 4)
Yeah, this really shows they have no spine. Bernanke is for stealing money from Mdicar and Social Security, but only thinly disguises his opposition for taxing the rich. He failed in regulating the banks, and in fighting the rising unemployment. And for this, he sails towards a new term, without much opposition. It's a shame.

Wasn't Bernake installed under Bush? (4.00 / 2)
Wow, they really left Merkley on an island there.

Reappointing (4.00 / 3)
Clinton reappointed Greenspan.  Obama reappoints Bernanke.  This is the single most important appointment a President has these days.  More important than the SCOTUS.  There is no reason in the world aside from $ that Democrats should reappoint a super scum bag like Ben Bernanke.

Shame on all of you.  I guess your checks are in the mail.


[ Parent ]
There is one reason: If not Bernanke, then someone even more horrible! (0.00 / 0)
This has to be expected from this horrible president. Who says his second choice will be better? That's the problem with this.  

[ Parent ]
Because it would be done while we are mobilized (4.00 / 1)
They prefer to do these things when no one is paying attention.

Politics is the art of the possible, but that means you have to think about changing what is possible, not that you have to accept it in perpetuity.

[ Parent ]
Actually, let me try this again (4.00 / 1)
It obviously does matter who is in a position like head of the Fed. But that said, its not the only thing going on. The Fed acts against the interests of most Americans, and contrary to its statutory mandate, because of the politics that surround it. It only concerns itself with pleasing Wall Street.  People know that the Fed can do these things and ordinary people might get mad or talk tough but they won't do anything.

Mobilizing against Bernanke could help change those dynamics. The candidate who follows (if he or she could be stopped) would probably not be markedly worse, because that would cause greater political problems for his or her (probably his) supporters. But even so, the difference of having people mobilized, I think, would matter more than who the individual in that particular position was.

Even if we failed, Bernanke would be more likely to act in ways more to our liking, even if that only meant being more cautious as he screwed us.  

This idea has been kicking around OL a lot lately in the comments, but we tend to overemphasize the individuals involved and underemphasize the political context in which they operate.  The context is something we have more leverage over - so we need to pay greater attention to it.

Politics is the art of the possible, but that means you have to think about changing what is possible, not that you have to accept it in perpetuity.


[ Parent ]
The problem ISN'T if we fail. The problem is if we WIN! (0.00 / 0)
Again, if Bernanke would be voted down, who would Obama nominate then? As long as we have no idea, that's a risky unknown part in the strategy!

You say, "The candidate who follows (if he or she could be stopped) would probably not be markedly worse, because that would cause greater political problems for his or her (probably his) supporters." Uh, excuse me pls, all he/she had to do is keep thir mouth shut and Obama and th Senators would be fine! Tehy have alrady voted for worse shit, without any dire consquences for them.


[ Parent ]
Perhaps, but you've responded to the less important point (4.00 / 1)
If a popular mobilization occurred showing that people could effectively organize against the Fed, I think that is more important than who they pick.

Tehy have alrady voted for worse shit, without any dire consquences for them.

But if people mobilize, there will be consequences.  That is the point.

(Also, what makes you think they would keep their mouth shut. Bernanke should have known better, yet he talked as if there was possibility for political backlash. Don't underestimate the arrogance of these people.)

Politics is the art of the possible, but that means you have to think about changing what is possible, not that you have to accept it in perpetuity.


[ Parent ]
Yes, here's the details (0.00 / 0)
Most Americans' income is in dollars.

Wall Street's income is mostly overseas in currencies other than dollars.

That's why you so frequently hear the lie that a weaker dollar will "stimulate exports" and "create jobs".

It never has. But it does radically increase Dow 30 profits.

The Fed has overseen the erosion of the dollar by "free trade" and other reverse-Robin Hood policies, and now that the real economy has collapsed, they are simply going to paper it over with debt until the dollar is printed into oblivion.

When the economy resumes its free fall, Progressives may want to find themselves as far away from the Democrats as possible, as America will become a nation of Teabaggers.

The Elite is not going to deviate from their tragic course.  


[ Parent ]
Dude... (0.00 / 0)
Again, I don't quite understand why you care so much since you are a German citizen... and Merkel is a pretty piss poor leader her self.    

[ Parent ]
I care so much because German politics are so "piss poor"! (4.00 / 1)
I do discuss this, too, but it very fastly goes to my nerves. US politics is more intersting for me (still thinking about applying for a green card. I like lotteries), and at the same time I'm more removed from that. It's not so unnerving. OK?

[ Parent ]
Apropos "thinking about applying for a green card" (0.00 / 0)
Actually, the questionable state of US healthcare now is a reason why I haven't signed up at the lottery yet. It would be a huge change from the quite good German system, and I don't like taking that risk. Understand now why I'm so engaged in this healthcare stuff?

[ Parent ]
Then again... (0.00 / 0)
Maybe I misunderstood and you live in the states on a visa.  If that's the case, then I can understand the interest more.    

[ Parent ]
No... (0.00 / 0)
I'm cool with your interest... but it does rub me the wrong way the amount of viritrol thrown at Obama by you.   I mean I can understand the anger that some have on here toward him due to them working their asses off and getting him elected.   It offends me when someone who wasn't part of the process and never worked to get the man elected, heck didn't even vote for him (not your fault though as you aren't a citizen) sprays such hatred toward the man.     I'm just asking you to keep the argument more to bad policy.. many of your comments come off personal.   Yes, I know its kind of a dick thing to say, but its kind of like  how you can insult your family members, but others can't.    

[ Parent ]
The President of the US (4.00 / 1)
plays a fairly important role in the world. The US government plays a fairly important role in the world. If we stop doing that, then maybe your family analogy might hold.  As it stands, I think everyone in the world should feel free to express their opinions any way they like.

Politics is the art of the possible, but that means you have to think about changing what is possible, not that you have to accept it in perpetuity.

[ Parent ]
My opinion on Obama has changed. (4.00 / 1)
I was never one of those who believed all the hype, but I didn't expect him to be so grandstanding about change, about reigning the business interests in, about a better governing than Bush, and then doing practically nothing aftr becoming president. I don't care if he framed his words so carefully that he didn't really promise anything, that strikes me as dishonest.

Now, what shall I do? Be dishonest myself, and act as if I think Obama is ok? No, sry, I won't. And imho I'm perfectly in sync with the majority here with my disappointment about the president. So, I don't see how your point about "family members" applies. Damn, as I see it, I AM a member of the OpenLeft family! I may be the strange uncle from abroad, but I'm around here all of the time.


[ Parent ]
My opinion on Obama has changed. (0.00 / 0)
I was never one of those who believed all the hype, but I didn't expect him to be so grandstanding about change, about reigning the business interests in, about a better governing than Bush, and then doing practically nothing aftr becoming president. I don't care if he framed his words so carefully that he didn't really promise anything, that strikes me as dishonest.

Now, what shall I do? Be dishonest myself, and act as if I think Obama is ok? No, sry, I won't. And imho I'm perfectly in sync with the majority here with my disappointment about the president. So, I don't see how your point about "family members" applies. Damn, as I see it, I AM a member of the OpenLeft family! I may be the strange uncle from abroad, but I'm around here all of the time.


[ Parent ]
Not what I meant... (0.00 / 0)
I know its a reappointment...   What I meant was more my surprise at the number of GOPers voting no.   I mean its as much, if not more an indictment of the GOP and Bush than Obama.

[ Parent ]
Thief (4.00 / 1)
"Willie Sutton robbed banks because that's where the money is, as he put it," Bernanke said. "The money in this case is in entitlements."

They recommended an avowed thief be re-confirmed.  Brilliant.


Brown is a dissapointment. (0.00 / 0)
But then, he did vote for the Military Commissions Act while running for senator.

USER MENU

Open Left Campaigns

SEARCH

   

Advanced Search

QUICK HITS
STATE BLOGS
Powered by: SoapBlox