Saturday, January 23, 2010

Bernanke's in trouble and so's the stock market

The following 4 articles show just how vulnerable Bernanke's tenure is at the Fed.

I predicted he'd not be re-nominated for the Chairmanship and was thankfully wrong.

How can he survive this current onslaught?

When combined with the administration's attempt to control bank activities, this is a warning shot to the economy.

Bond will probably rally through this as the stock market sinks lower.

* * * * * J B K * * * * *

San Francisco

1. Senate Democrats Put
Bernanke in the Crosshairs
Wall Street Journal [Washington Wire], by Susan Davis
http://blogs.wsj.com/washwire/2010/01/22/senate-democrats-put-bernanke-in-the-crosshairs/

2. Obama still confident
Bernanke gets second term
Associated Press, by Jeannine Aversa & Jim Kuhnhenn
http://www.washingtonexaminer.com/nation/obama-still-confident-bernanke-gets-second-term-as-fed-chairman-82387577.html

3. 2 Democrats Oppose Another
Term for Bernanke
New York Times, by Sewell Chan
http://dealbook.blogs.nytimes.com/2010/01/22/2-democrats-oppose-another-term-for-bernanke/

4. Sen Boxer To Vote Against
Second Term For Bernanke
Dow Jones Newswires, by Staff
http://www.foxbusiness.com/story/markets/sen-boxer-vote-second-term-bernanke/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+foxbusiness%2Flatest+%28Text+-+Latest+News%29&utm_content=Yahoo+Search+Results