Bernanke Is a Drag on the Economy and on Democrats

[The Northerner]

Ben Bernanke missed an $8 trillion housing bubble and is still fighting against sensible bank regulations. Time for him to go.

January 27, 2010 | If the Democratic Party wants to lose—or, to be more precise, wants to lose badly in 2010 and 2012, it need only maintain its current loyalty to the most powerful interests on Wall Street.

The United States already has a party of Wall Street. It does not need two.

Yet, despite an occasional populist turn (like his current bank bashing), President Obama has, with his absurd nominations and even more absurd policies, given every indication that he intends to position the Democratic Party closer to corporate interests than all but the most reprehensible Republicans.

Forget about Obama's rhetorical flourishes. As a candidate and as president, he has too frequently chosen to side with multinational corporations rather than working Americans.

After securing the 2008 Democratic presidential nomination, Obama told Fortune magazine that business executives did not need to worry about his talk of reforming U.S. free trade policies; despite some nice rhetorical flourishes on the primary campaign trail in hard-hit industrial states, Obama said he had no intention of embracing or implementing a fair trade agenda.

Once he was elected, Obama selected as his chief of staff the Democratic party's most ardent advocate for free trade and the broader corporate program, Rahm Emanuel. Then, the new president peopled his administration with Wall Street insiders like Treasury Secretary Tim Geithner and economic adviser Larry Summers.

Read more: http://www.alternet.org/news/145445/bernanke_is_a_drag_on_the_economy_and_on_democrats

[mdmc]

1. I for one will struggle to support my current democRATS that voted

for him..

Of course if Harold Ford looks like he got some legs, I will work hard for Gillibrand

[Demeter]

2. It's Too Late Now; Bernanke Has Been Reconfirmed

suckers!

[lib2DaBone]

3. The Dems had a chance to dump Bernake and they didn't take it..

and now with Sen Dodd killing banking reform.. it's pretty clear what a mess we are in and nothing is going to change.