Wednesday, December 02, 2009

Bernanke blues:

From Naked Capitalism: (original emphasis)
Progress on “No on Bernanke,” Including Sanders Putting Hold on Confirmation

The efforts to block Bernanke’s confirmation are getting some traction.

First, Bernie Sanders of Vermont said he is putting a hold on Bernanke’s confirmation. A hold (in lay terms) is a threat to filibuster. This is actually pretty serious and seldom done. It takes 60 votes to beat one back, and there are enough procedural roadblocks that a filibustering Senator can throw so that it holds up Senate business for a few days, even if it is ultimately unsuccessful. And by current tallies, there are a few Senators on the right who are also vehemently opposed to Bernanke and would support this move.

Now so far, this is merely an obstacle to reappointment, but this is still much more serious opposition than anyone would have expected even a week ago.

Second, a Rasmussen poll (hat tip reader Andrew) released today found that only 21% of Americans favor Bernanke’s reappointment. This is significant not simply due to the lousy results, but that Rasmussen bothered to run the poll at all. This was not a client sponsored poll; Rasmussen thought this was newsworthy enough to run this on its own. Admittedly, a large proportion are undecided, but twice as many oppose a Bernanke reappointment as support it.
From Rasmussen: (emp add)
Ben Bernanke begins the formal process tomorrow for confirmation to a second term as chairman of the Federal Reserve Board, but 41% of Americans think President Obama should name someone new to the post. (...)

Republicans are more strongly opposed to Bernanke’s reappointment than Democrats and adults not affiliated with either of the major parties. However, investors support a second term for Bernanke by more than two-to-one over non-investors.


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