More on the Bernanke Meltdown
Contrary to this morning’s headlines, we believe Chairman Bernanke’s reappointment this week is still far from certain and may become eerily reminiscent of the first TARP vote. After last week’s confirmation vote for Fed Chairman Bernanke was called off due to insufficient votes, the Administration and Congressional leaders are in the headlines this morning claiming he has the votes now and will be confirmed. Intrade odds for Bernanke’s confirmation bumped higher on the news. But our review of the numbers suggests Bernanke still faces a tough road, virtually all of the undecided Senators must break for the Chairman in order for him to secure reappointment.