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Archive for Wednesday, January 27, 2010

Brownback says he’ll vote against another term for Bernanke

January 27, 2010

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— Kansas Sen. Sam Brownback says he’ll vote against a second term for Ben Bernanke as Federal Reserve chairman.

Brownback said Wednesday he believes the Fed needs a different perspective because its Board of Governors is too dominated by Washington and New York interests.

Aides to Brownback’s fellow Kansas Republican, Sen. Pat Roberts, didn’t immediately respond to messages and e-mails Wednesday about how Roberts plans to vote.

The Senate is expected to take a vote Thursday that will determine if Bernanke’s nomination will overcome procedural obstacles. Supporters need 60 votes in the 100-member Senate.

Brownback said he wants a Fed chairman from outside the establishment, mentioning Thomas Hoenig, president of the Federal Reserve Bank of Kansas City.

Comments

Randy Leonard 4 years, 10 months ago

What else is new? More of the same old Republican obstructionist behavior.

Mixolydian 4 years, 10 months ago

gregsharp (Anonymous) says…

I contacted Mr Brownback's office about Citibank raising my interest rate from 6 percent to 27 percent. He responded that the free markets were at work and there was nothing he could do?????????????????????? Thats all you need to know about Mr. Brownback.

You contractually accepted money on credit from Citibank with those terms and conditions.

Are you claiming that you didn't have the mental capacity or capability to read and comprehend what it was you were agreeing to with Citibank?

If you think somehow that that you were unlawfully taken advantage of, or that Citibank violated a term of the contractual arrangement you have with them, then Browback represents the wrong branch of government you need to access.

Take it to court or , better yet, fulfill you obligations and take it as a lesson learned to read the agreement you're signing.

Godot 4 years, 10 months ago

Excellent decision, Senator Brownback. I fully support you in this. The reason TPTB want to keep Bernanke on board is because he is the conduit for transferring money from the taxpayers to GS, JPM, Deutche Bank, et al.

Benny knows where the skeletons are hidden. Convene a grand jury and subpoena him and the entire Federal Reserve staff.

Richard Heckler 4 years, 10 months ago

"Benny knows where the skeletons are hidden. Convene a grand jury and subpoena him and the entire Federal Reserve staff."

Ditto ditto ditto

Take Gietner to the grand jury as well....... how about Paulson?

just_another_bozo_on_this_bus 4 years, 10 months ago

I'm glad he's voting this way, but Brownback couldn't care less about Bernanke or his poor performance and bad decisions. Brownback likely supported all of them at the time.

Obama supports Bernanke, and that's the only reason Brownback's against him.

leedavid 4 years, 10 months ago

How bad and how corrupt does the economy have to get before the left is willing to change leadership?

Well ..OK ..do what you have to do....we will fix it midterm elections....Help is on the way.

BrianR 4 years, 10 months ago

leedavid (Anonymous) says… "How bad and how corrupt does the economy have to get before the left is willing to change leadership?"

I agree, more corrupt CEOs should be dragged into the streets and shot.

4getabouit 4 years, 10 months ago

Brownback is wealthy. He married into money. He doesn't care about you. He has no skills other than sucking up to wealth. Wake up.

leedavid 4 years, 10 months ago

BrianR (Anonymous) says…

leedavid (Anonymous) says… “How bad and how corrupt does the economy have to get before the left is willing to change leadership?”

I agree, more corrupt CEOs should be dragged into the streets and shot. +++++++++++++++++++++++++

Ah Saddam style tactics.....I see.

jaywalker 4 years, 10 months ago

"Obama supports Bernanke, and that's the only reason Brownback's against him"

And Brownback's a Republican, and that's the only reason bozo looks to bash him.

verity 4 years, 10 months ago

I'm with Brownback on this one---as far as voting against Bernanke. It's not just the Republicans who want him replaced.

Doesn't make me like Brownback.

Richard Heckler 4 years, 10 months ago

Brownback is a Washington insider moving from one tax dollar job and benefits to another. How does he dislike big government?

Brownback is the party that brought down the USA economy.

leedavid 4 years, 10 months ago

Merrill go back three years when the democrats took over congress and compare that to today.....I think you will agree the democrats took the economy down. It's the spending.....

KansasPerson 4 years, 10 months ago

They corrected the headline without thanking me. Now my comment looks stupid. :)

leedavid 4 years, 10 months ago

KansasPerson (Anonymous) says…

They corrected the headline without thanking me. Now my comment looks stupid. :)


I'll thank ya KansasPerson.....great eye for detail. I don't have that skill set.

lawrencemom 4 years, 10 months ago

Translate: Brownback knows the Bernanke approval is safe and he's free to look like he's breaking with establishment by voting against him. He really doesn't care.

just_another_bozo_on_this_bus 4 years, 10 months ago

"And Brownback's a Republican, and that's the only reason bozo looks to bash him."

Yea, he's only been involved in Kansas and national politics for 2 decades. I couldn't possibly have any opinion about him other than his party affiliation.

But you do have a point-- I wouldn't hire a convicted pedophile as a babysitter. And similarly, I'd never vote for a confessed Republican for any elected office.

leedavid 4 years, 10 months ago

Bozo: ".... I wouldn't hire a convicted pedophile as a babysitter. "

++++++++++++++++++++

This from someone that voted for Bill Clinton. Well.....OK, now....

just_another_bozo_on_this_bus 4 years, 10 months ago

"This from someone that voted for Bill Clinton."

Nope-- never did.

monkeyhawk 4 years, 10 months ago

Godot - I agree. We need to stick with the devil we know.

Wonder if gregsharp also has a subprime loan? Citibank also raised my interest rate. It doesn't matter to me in the slightest because I pay in full every month.

just_another_bozo_on_this_bus 4 years, 10 months ago

"Citibank also raised my interest rate. It doesn't matter to me in the slightest because I pay in full every month."

Most people do-- right up until they lose their job, or get a serious illness, or some other misfortune makes it impossible to continue doing so-- whereupon the citibank loan sharks spring into action.

monkeyhawk 4 years, 10 months ago

Right boozo, then what is the next step? Could it be to stiff their creditors?

BTW, did I ever tell you how much I admire your bleeding heart? You are a boozo of the people.

just_another_bozo_on_this_bus 4 years, 10 months ago

"Right boozo, then what is the next step? Could it be to stiff their creditors?"

How about a cap on interest rates? These are historic times in terms of interest rates-- as in they are very, very low. Except for credit cards.

Why can't these companies figure out how to make a living on 13% interest? Why do they need to raise it to 30% interest just because someone is a couple days late paying their electric bill?

"BTW, did I ever tell you how much I admire your bleeding heart?"

Does it take a "bleeding heart" to recognize that gangster tactics are wrong, even by a large corporation?

monkeyhawk 4 years, 10 months ago

"Does it take a “bleeding heart” to recognize that gangster tactics are wrong, even by a large corporation?"

Tell that to the Chicago gang in office.

just_another_bozo_on_this_bus 4 years, 10 months ago

"Tell that to the Chicago gang in office."

So, you agree that there should be a cap on credit card interest rates?

monkeyhawk 4 years, 10 months ago

Could be worse:

"This credit card’s interest rate is 79.9%. The bloated APR is how First Premier Bank, a subprime credit card issuer, is skirting new regulations intended to curb abusive practices in the industry. It’s a strategy other subprime card issuers could start adopting to get around the new rules.

Typically, the First Premier card comes with a minimum of $256 in fees in the first year for a credit line of $250. Starting in February, however, a new law will cap such fees at 25% of a card’s credit line.

In a recent mailing for a preapproved card, First Premier lowers fees to just that limit — $75 in the first year for a credit line of $300. But the new law doesn’t set a cap on interest rates. Hence the 79.9% APR, up from the previous 9.9%.

“It’s the highest on the market. It’s the highest we’ve ever seen,” said Anuj Shahani, an analyst with Synovate, a research firm that tracks credit card mailings."

monkeyhawk 4 years, 10 months ago

"It doesn't matter to me in the slightest because I pay in full every month."

just_another_bozo_on_this_bus 4 years, 10 months ago

So as long as the gangsters don't have your number, you're OK with the gangsters' tactics.

just_another_bozo_on_this_bus 4 years, 10 months ago

13% is a high interest rate. There is no reason for 30% interest rates, or even 18% interest rates, other than that gouging the vulnerable, the gullible and the desperate is extremely profitable, as mafia loan sharks have known for a long time.

jaywalker 4 years, 10 months ago

" I couldn't possibly have any opinion about him other than his party affiliation.

But you do have a point— I wouldn't hire a convicted pedophile as a babysitter. And similarly, I'd never vote for a confessed Republican for any elected office"

Brilliant. Sarcastically posit that you might be able to form an informed opinion, then say "Naw. He's a Republican. That's all I need to know." Your idiocy astounds, bozo.

just_another_bozo_on_this_bus 4 years, 10 months ago

It was a joke, jaywalker-- but like most jokes, it does have a basis in fact.

just_another_bozo_on_this_bus 4 years, 10 months ago

"Sure there is. If the credit market is tight and there's little money to be lent then interest rates would be high."

If someone has poor credit, a lower credit limit and a 13% interest rate would allow lenders to spread their money around without resorting to usury. And if they want to reward those with good credit, 8% interest is still a very good return for the lender.

Jimo 4 years, 10 months ago

Whatever Bernanke's sins (and I've been a critic of him for years), Bernanke and Sully Sullenberger were two real life heroes in the last year who managed to deploy their skills and training to avert disaster when few other could have.

For Brownback to pull this populist stunt shows that not only are his values and political beliefs suspect but that he lacks the judgment and temperament we need in leaders.

jaywalker 4 years, 10 months ago

This comment was removed by the site staff for violation of the usage agreement.

just_another_bozo_on_this_bus 4 years, 10 months ago

This comment was removed by the site staff for violation of the usage agreement.

Jimo 4 years, 10 months ago

"So in other words, what is driving up costs is the interest the bank is paying to depositors—aka you and me on our savings accounts and grandma on her long-term CDs."

Clearly, someone doesn't grasp how banks make money.

Mary Sucha 4 years, 10 months ago

Bernanke isn't any different today than he was 4 years ago when Sammi voted for his appointment.

Mary Sucha 4 years, 10 months ago

Although, I think he already has the nutcase vote sewed up.

tolawdjk 4 years, 10 months ago

A man with 24 yrs inside the beltway thinks that someone else is too much a part of the establishment.

That's rich.

Jimo 4 years, 10 months ago

"The more they have to pay depositors to get money, the more they have to charge to borrowers to borrow money."

I can think of several thousand long dead S&L who would disagree with you.

What's ironic is that for someone who loudly worships at the altar of free markets, you keep coming back to the theme again and again that some players are free to dictate to others the the 'contract' terms and prices they must accept. Outside of the post office, various regulated utilities, and (until Obama) credit card issuers, that just isn't how the world works.

Lib, multiple people have firmly established that you do know much about anything including the very topics upon which you claim your expertise. Trying getting a job making real decisions and dealing with real clients/customers.

Jimo 4 years, 10 months ago

Sorry too Lib, I shouldn't have criticized your religion.

Jimo 4 years, 10 months ago

Like I said, Lib - grow up and get a job.

jaywalker 4 years, 10 months ago

Moderators:

You have to be tossing darts and deleting what you hit aimlessly. There was absolutely nothing in my post that justified removal.

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