Ben Bernanke Pleads for His Job; My Response to Bernanke [View article]
I have contacted both my Senators to vote AGAINST Banana Ben's reappointment. Here is the letter content:
This communiqué is in regards to the question of Ben Bernanke’s reappointment as Federal Reserve Chairman. The Federal Reserve’s website overview contains the following primary objectives: • supervising and regulating banking institutions to ensure the safety and soundness of the nation’s banking and financial system and to protect the credit rights of consumers • maintaining the stability of the financial system and containing systemic risk that may arise in financial markets
And from 12/3/09 WSJ: “. . . we also didn't know then how complicit Mr. Bernanke was in Mr. Greenspan's monetary decisions. Now we do, thanks to the release of the Federal Open Market Committee transcripts from 2003. They show (see "Bernanke at the Creation," June 23, 2009) that Mr. Bernanke was the intellectual architect of the decision to keep monetary policy exceptionally easy for far too long as the economy grew rapidly from 2003-2005. He imagined a "deflation" that never occurred, ignored the asset bubbles in commodities and housing, dismissed concerns about dollar weakness, and in the process stoked the credit mania that led to the financial panic” online.wsj.com/article...
On 2 of 4 critical mandates, he has failed. Any credit he is given cleaning up the mess is negated by his role in facilitating the crisis in the first place. And his “solution” of egregious money printing has debased the currency and punished savers.
Many share my sentiment. Rasmussen reports that only 21% support Bernanke’s reappointment. www.rasmussenreports.c...
Please cast your vote reflecting the overwhelming majority and vote AGAINST Bernanke’s reappointment.
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I have contacted both my Senators to vote AGAINST Banana Ben's reappointment. Here is the letter content:
Dec 4 09:10 AM
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All Comments by basehitz »Ben Bernanke Pleads for His Job; My Response to Bernanke [View article]
This communiqué is in regards to the question of Ben Bernanke’s reappointment as Federal Reserve Chairman. The Federal Reserve’s website overview contains the following primary objectives:
• supervising and regulating banking institutions to ensure the safety and soundness of the nation’s banking and financial system and to protect the credit rights of consumers
• maintaining the stability of the financial system and containing systemic risk that may arise in financial markets
And from 12/3/09 WSJ:
“. . . we also didn't know then how complicit Mr. Bernanke was in Mr. Greenspan's monetary decisions. Now we do, thanks to the release of the Federal Open Market Committee transcripts from 2003. They show (see "Bernanke at the Creation," June 23, 2009) that Mr. Bernanke was the intellectual architect of the decision to keep monetary policy exceptionally easy for far too long as the economy grew rapidly from 2003-2005. He imagined a "deflation" that never occurred, ignored the asset bubbles in commodities and housing, dismissed concerns about dollar weakness, and in the process stoked the credit mania that led to the financial panic”
online.wsj.com/article...
On 2 of 4 critical mandates, he has failed. Any credit he is given cleaning up the mess is negated by his role in facilitating the crisis in the first place. And his “solution” of egregious money printing has debased the currency and punished savers.
Many share my sentiment. Rasmussen reports that only 21% support Bernanke’s reappointment.
www.rasmussenreports.c...
Please cast your vote reflecting the overwhelming majority and vote AGAINST Bernanke’s reappointment.
Thank you for your thoughtful consideration.