Obama Says Bernanke Fed Term Lasting ‘Longer Than He Wanted’

[Purveyor]

Source: Bloomberg

President Barack Obama said Federal Reserve Chairman Ben S. Bernanke has stayed in his post “longer than he wanted,” one of the clearest signals the central bank chief will leave when his current term expires next year.

“Ben Bernanke’s done an outstanding job,” Obama said in an interview with Charlie Rose that airs tonight, when asked about nominating him for another term subject to Senate approval. “He’s already stayed a lot longer than he wanted or he was supposed to.”

Obama likened Bernanke’s tenure to that of outgoing Federal Bureau of Investigation Director Robert Mueller, who stayed on for two years after his term expired in 2011 and is leaving his post in September. Bernanke’s second four-year stint at the central bank ends Jan. 31.

Bernanke, like Mueller, was initially nominated to the post by former President George W. Bush. Obama asked Bernanke to serve another term as chairman, which he began on Feb. 1, 2010. The 59-year-old former Princeton University professor and Great Depression scholar also served on Bush’s Council of Economic Advisers.

Read more: http://www.bloomberg.com/news/2013-06-18/obama-says-bernanke-fed-term-lasting-longer-than-he-wanted-1-.html

[L0oniX]

1. Bernanke has done such a good job. I didn't even feel myself getting fucked. Now that's transparent!

[Marie Marie]

2. Yes, at least he could have bought us dinner first.

[Psephos]

3. Bernanke Bux! He taped the CTRL and P keys down on his keyboard.

Old way: create wealth and value through labor, ingenuity, creativity, foresight, execution.

New way: print trillions of dollars and hand them to TBTF banks so they can buy Treasury debt and "finance" a government that borrows 42 cents of every dollar it spends.

[blkmusclmachine]

4. "Bernanke’s done an outstanding job.."

For whom?

[AndyA]

6. Why, the bankers of course!

Profits are up, fees are up, no one's in jail...life is good when you're looking down at the little people!

[delrem]

5. Bernanke. Now that was a choice of progressive imagination.

[Marblehead]

7. the skim

$85 billion of our money per month to bankers, whats wrong with that??