Will beardly Ben Bernanke win a second term as chairman of the Federal Reserve? Yes he will, because even with gajillion percent unemployment nobody in the Obama administration is about to write that help wanted ad ("ISO chief executive to become symbol of everything that is wrong with the economy, management exp. necessary, whiskers preferred").
But we can still have a little fun with today's confirmation hearings, thanks to Sen. Bernie Sanders (Rogue-VT), who has "put a hold" on Ben. Hold him closer, Bernie …
Sanders's action means that Senate Majority Leader Harry M. Reid (D-Nev.) will have to win the assent of 60 senators before a vote can be taken on the nomination. Typically, 51 votes are needed to confirm.
In other words, everyone will have more time to grandstand and holler at Ben, who will respond by… hmm, how will he respond?
"He has to stand up and connect the dots between what the Fed has done to help Wall Street and the economy on Main Street, and that's a difficult thing to do," said Diane Swonk, chief economist at Mesirow Financial.
Ah, but not if you look the other way while a huge bubble of dots builds up in the market and then try to take credit for stepping in at the last minute to clean up the aftermath of the massive dot explosion.
This'll be no sweat.
Tags: Ben Bernanke, Bernie Sanders, Economy, Federal Reserve, Senate