Dump Bernanke - How You Can Help!

By: Mike Shedlock | Fri, Jan 22, 2010
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Opposition to the reappointment of Bernanke is mounting every day. Senator Barbara Boxer Senator (D- California) and Russ Feingold (D-Wisconsin) are the latest to hop on the Dump Bernanke bandwagon.

Please consider Opposition To Bernanke Growing In Wake Of Massachusetts Vote.

Senator Barbara Boxer: "I have a lot of respect for Federal Reserve Chairman Ben Bernanke. When the financial crisis hit in late 2008, he took some important steps to prevent what many economists believe could have been an even greater economic catastrophe," said Boxer.

"However, it is time for a change -- it is time for Main Street to have a champion at the Fed. Dr. Bernanke played a lead role in crafting the Bush administration's economic policies, which led to the current economic crisis. Our next Federal Reserve Chairman must represent a clean break from the failed policies of the past."

Senator Russ Feingold: "A chief responsibility of the Chairman of the Federal Reserve is to ensure a sound financial system," read a statement issued from the Wisconsin Democrats office. "Under the watch of Ben Bernanke, the Federal Reserve permitted grossly irresponsible financial activities that led to the worst financial crisis since the Great Depression. Under Chairman Bernanke's watch predatory mortgage lending flourished, and 'too big to fail' financial giants were permitted to engage in activities that put our nation's economy at risk. And as it responds to the crisis it helped to usher in, the Federal Reserve under Chairman Bernanke's leadership continues to resist appropriate efforts to review that response, how taxpayers' money was being used, and whether it acted appropriately. When the full Senate considers his nomination, I will vote against another term for Chairman Bernanke."

Are the Votes There?

Inquiring minds are reading Senate Democrats Not Sure They Can Get Enough Votes to Reconfirm Bernanke

Amidst the voter anger at Wall Street and Washington, D.C., ABC News has learned that the Senate Democratic leadership isn't sure there are enough votes to re-confirm Ben Bernanke for another term as chairman of the Federal Reserve.

"The American people are disgusted with the greed and recklessness of Wall Street," Sen. Bernie Sanders, I-Vt., said in an interview with The Associated Press last month. "People are asking, 'Why didn't the Fed intervene at the appropriate time to stop the casino-type activities of large financial companies?'"

Sanders, Sen. Jim Bunning, R-Ky., Sen. Jim DeMint, R-S.C., and Sen. David Vitter, R-La., have all put holds on Bernanke's nomination, requiring 60 votes to proceed to a vote.

Roll Call reported this week that at the Senate Democratic caucus meeting on Wednesday, "according to senators, liberals spoke out against confirming Bernanke for a second term. Those liberals tried to make the case that the White House needs to put in place fresh economic advisers to focus on 'Main Street' issues like unemployment rather than Wall Street concerns. Moderates were more reserved, senators said, but have similarly withheld their support for Bernanke.

Tally of Senate Vote Count

Inquiring minds are investigating the Wall Street Journal's Tally of Senate Vote Count on Bernanke Confirmation.

The Wall Street Journal and Dow Jones have compiled a tally of senators who have declared their intentions for the confirmation vote based on interviews with the senators or their offices. Currently, 17 senators (13 Democrats and 4 Republicans) have committed to support the nomination, while 12 (7 Republicans, 4 Democrats and 1 Independent) said they will vote no. Five senators have said they are undecided in interviews, while the remainder haven't officially commented.

From the tally ...


LEVIN, Carl (D-MI) phone: 202-224-6221 Fax: 202-224-1388
MIKULSKI, Barbara A. (D-MD) phone: 202-224-4654 Fax: 202-224-8858
NELSON, Ben (D-NE) phone: 202-224-6551 Fax: 202-228-0012
NELSON, Bill (D-FL)Phone: 202-224-5274 Fax: 202-228-2183
REID, Harry (D-NV)Phone: 202-224-3542 Fax: 202-224-7327

Against Confirmation

BOXER, Barbara (D-CA)
DORGAN, Byron L. (D-ND)
FEINGOLD, Russell D. (D-WI)
SANDERS, Bernard (I-VT)
CRAPO, Mike (R-ID)
DeMINT, Jim (R-SC)
HUTCHISON, Kay Bailey (R-TX)
McCAIN, John (R-AZ)
SHELBY, Richard C. (R-AL)
VITTER, David (R-LA)

For Confirmation

AKAKA, Daniel K. (D-HI)
BAYH, Evan (D-IN)
BENNET, Michael F. (D-CO)
BROWN, Sherrod (D-OH)
DODD, Christopher J. (D-CT)
DURBIN, Richard J. (D-IL)
KOHL, Herb (D-WI)
REED, Jack (D-RI)
SCHUMER, Charles E. (D-NY)
WARNER, Mark R. (D-VA)
BENNETT, Robert F. (R-UT)
GREGG, Judd (R-NH)

How You Can Help!

Here is the Online Directory For The 111th Congress .

Whether they are in your state or not, please call all 5 undecided senators.

Concentrate on the senate. The house has no say on this.

What To Say: Make it simple so as to not tie up the lines ... "I am opposed to the reappointment of Bernanke [give your personal reason] and I think we should start all over on health care [or whatever you think about that issue]."

Next call your senators with the same message.
Look up the phone numbers in the online directory.

Send A Message

Remember it takes 60 votes for confirmation. All it takes to send Bernanke flying is a change in a handful of undecided senators!

Call Now!



Mike Shedlock

Author: Mike Shedlock

Mike Shedlock / Mish
Mish Talk

Mike Shedlock

Michael "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Visit http://www.sitkapacific.com/ to learn more about wealth management for investors seeking strong performance with low volatility.

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