OBAMA TO NOMINATE BERNANKE FOR SECOND RUN TO HEAD THE FED

President Barack Obama confers with Federal Re...

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Dy’er Sez: Un-flippin-believeable! Bernanke is the guy who allowed (some say intentionally) this mess to happen in the first place, hasn’t fixed the problem, and told Congress that the We The People have no right or legal recourse to see what the Federal Reserve is up to. If Obama wants this man in the same position, then Obama has no interest in what is best for the American people.

Story from AP (followed by three videos to check out):

AP source: Obama plans to keep Bernanke at Fed
By PHILIP ELLIOTT, Associated Press
 
OAK BLUFFS, Mass. – President Barack Obama plans to reappoint Ben Bernanke to a second term as chairman of the Federal Reserve, a position from which he guided the economy away from its worst recession since the 1930s and, the White House hopes, toward an economic recovery critical to its legacy.

Widely credited with taking aggressive action to avert an economic catastrophe after the financial meltdown last year, Bernanke will be nominated for another term as the helm of the central bank on Tuesday. Obama plans to make the announcement on Martha’s Vineyard, the Massachusetts island where he is vacationing for the week with his family.

Bernanke is expected to be at his side, said a senior administration official who discussed the nomination only on condition of anonymity because the news was not yet public.

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