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Do you think that Bernanke should be confirmed for a 2nd term?

It's been all over the news, this one will vote yes, this one no. Do they have enough votes in the Senate? and on and on.... I don't know all the ins and outs of economics, I don't know enough about what he has or has not done. I have been thinking about it, but find myself confused on the whole thing. Can someone explain anything about it?

The other question with this is, if he does not get confirmation, who would or could be nominated in his place? Would that person be better or worse for the country?

 
29again

Asked by 29again at 1:39 PM on Jan. 24, 2010 in Politics & Current Events

Level 27 (31,176 Credits)
This question is closed.
Answers (9)
  • It is very hard for me to calmly consider who might best replace Bernanke, when I want the Fed to stop controlling the U.S. entirely.
    waldorfmom

    Answer by waldorfmom at 11:22 PM on Jan. 24, 2010

  • Bernacke and Geitner should both be drawn and quartered.
    rkoloms

    Answer by rkoloms at 2:44 PM on Jan. 24, 2010

  • No. He is part of the machine that allowed the economic issues to compound. This position has way too much power anyway. It should be reviewed and redefined.

    jesse123456

    Answer by jesse123456 at 7:08 PM on Jan. 24, 2010

  • It would probably be best if he got renominated. It is scary to think who Obama would pick.
    Carpy

    Answer by Carpy at 7:34 PM on Jan. 24, 2010

  • No.
    kittymommy

    Answer by kittymommy at 8:54 PM on Jan. 24, 2010

  • The Federal Reserve should be abolished. Period.

    Here's a thought: Remember how in recent months the Treasury & the Fed & the White House team forcefully "re-wrote" the rules for big corporations going into bankruptcy, getting bailed out, etc. ?

    And remember how they talk about the astronomical amount of money needed to "service" the federal debt (that means to just keep up with paying the interest on the loans) ?

    Well, guess who a major part of our federal debt is on loan FROM? Guess who "we" are paying all that astronomical amount of interest TO ?! .... Yep. It's the FEDERAL RESERVE Bank Group. Remember, despite the name it gave itself to hide this fact, the Federal Reserve is a private entity; in no way a gov't agency under the control of Congress.

    If we can re-write contracts for other private citizens and corporations, then why don't we simply re-write our contract with the Federal Reserve and refuse to pay the debt !
    waldorfmom

    Answer by waldorfmom at 11:21 PM on Jan. 24, 2010

  • If we can re-write contracts for other private citizens and corporations, then why don't we simply re-write our contract with the Federal Reserve and refuse to pay the debt !
    --------
    Sounds like a plan to me!

    29again

    Answer by 29again at 11:58 PM on Jan. 24, 2010

  • OK. waldorf, I read your reply again. Are you saying that we owe $$ to a private bank? I thought we borrowed a boatload of $$ from China. Sorry, but I am so confused about this.
    29again

    Answer by 29again at 12:03 AM on Jan. 25, 2010

  • Yep. I am saying exactly that. ... We have indeed begun to borrow from China, etc. But our primary loan-er is and has been for decades the group of international banks which call themselves the Federal Reserve.

    NOT "Federal" .... there is no money anywhere being held in "Reserve" ...

    In the book "The Creature from Jekyll Island", the author details the founding of this group with a couple of Congressmen, JP Morgan and perhaps another American banker, & British and German bankers. It's an incredible book - completely documented for proving what he is describing. ... Ron Paul and many others consider this book key to knowing what's happening.
    waldorfmom

    Answer by waldorfmom at 2:07 PM on Jan. 25, 2010

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