Nathan Scandella (personal)

Bernanke Reconfirmation Vote

Another letter sent to my Senators today. Written in haste, but the vote is nearly here, so I had to get something out. Here it is ....

Senators Murray and Cantwell,

Concerning the upcoming vote to reconfirm Ben Bernanke, you owe it to the voters of Washington state to vote NO, and force President Obama to replace Bernanke with someone who has a moral compass, the ability to diagnose problems in the economy, and a willingness to respect the law as defined in the Federal Reserve Act.

Very few in the economic community were paying close enough attention to what was happening with private debt, and willing to talk openly about the potential consequences, and only about a dozen economists worldwide accurately predicted the meltdown. One of them was Australian economist Steve Keen, whose piece on Bernanke someone on your staff must read immediately:

http://www.debtdeflation.com/blogs/2010/01/24/debtwatch-no-42-the-economic-case-against-bernanke/

The Democrats are not losing momentum primarily because of health care reform, or government deficits. It's primarily a result of Americans being shocked to find out that the new Democrats they put into office, including President Obama, would be escalating our boondoggle war efforts in the Middle East, and paying ransom money to Wall Street. One of the very few issues that voters on the left and right can agree on, is their outrage at the way the government has handed our money over to the financial sector. Democrats must stop this immediately, and removing Bernanke from office is the first step. While his replacement would also be a banking insider, I think former Chairman Volcker has shown that there do exist bankers with a modicum of morality and responsibility. Ben Bernanke is simply not one of them.

A school child could see that you don't reward someone who performed as badly during his time with the Federal Reserve system (not merely as Chairman) as Bernanke. You replace him.

This vote is one about thing for the people of Washington. Are their Senators incompetent and corrupt, or not?

Make the right choice.

Nathan Scandella
Seattle, WA

Posted at 11:22AM Jan 27, 2010 by Nathan in Economics  |  Comments[1]