Geithner warns of Market Turmoil if Senate does not confirm Bernanke fallout

[bobbyw24]

Treasury Secretary Timothy Geithner warned that the financial markets would view a Senate rejection of Ben Bernanke's renomination as "very troubling" but said he's sure the embattled Federal Reserve chairman will prevail.

"We're very confident that the chairman will be reconfirmed by the Senate, and we think it's very important he be reconfirmed by the Senate," Geithner said Friday in an interview at the Treasury for POLITICO's new video series, "Inside Obama's Washington," debuting Monday.

"He's done a remarkable job of helping steer this economy out of the great recession. :rolleyes:

And I think he'll play a very important role in helping in the success of our efforts to try to make sure we are bringing this economy back to durable growth."

Asked about possible market reaction to a defeat, Geithner said: "I think the markets would view that as a very troubling thing to the economy as a whole. But, as I said, I don't think they should be uncertain. I think they should be confident because we are very confident he will be reconfirmed."

Bernanke is having such a rough time, Geithner suggested, because the country is "in a moment where people are incredibly angry and frustrated by the damage this crisis caused."

Read more: http://www.politico.com/news/stories/0110/31804.html#ixzz0dfjjgdU9

[catdd]

"Treasury Secretary Timothy Geithner warned that the financial markets would view a Senate rejection of Ben Bernanke's renomination as "very troubling""

Thinly veiled threat?

[itshappening]

Keep calling your senators, they dont have the votes otherwise he would have been confirmed by now

here comes the TARP-like scare stories

Bernanke is more unpopular than Madoff

[freedoms-light]

"Treasury Secretary Timothy Geithner warned that the financial markets would view a Senate rejection of Ben Bernanke's renomination as "very troubling""

Thinly veiled threat?

Sounds like one, and by a criminal, no less.

[itshappening]

Kos on Dailykos isn't happy with Bernanke either

' who knew that once George Bush nominated Bernanke, we'd be stuck with him forever and ever, even though he was asleep at the wheel when the economy imploded and is more concerned about keeping inflation down than trying to get unemployment down below 10 percent! That would mess with his "independence"!

The Bush Administration already made a mistake with Bernanke, and the Obama Administration appears desperate to follow suit. In fact, it would've been nice to see Obama fight for real health care reform with the same energy.

But when the White House is incapable of finding a Fed chief interested in Main Street, rather than his pals over at Morgan Stanley, then it's the job of Congress to show that it is still an awake and engaged co-equal branch of government.

And it's time to stop pretending that anything but a Bernanke re-confirmation will somehow lead to economic armageddon. Such fear campaigns were the staple during the Bush years. I have little appetite to see the Obama team follow that same ridiculous path.'

http://www.dailykos.com/

[itshappening]

Comments:

'why must it be Bernake. Is there no other qualified person in America to handle the Job?

Or no other person who can be trusted to play the criminals game..'