Monday, August 24, 2009

Here's an Apparent Contradiction Surrounding the Bernanke Re-Nomination

NYT says:

The administration conveyed the news to Mr. Bernanke on Monday, aides said, and will be on hand at the Oak Bluffs Elementary School for the announcement.

WSJ says:

Mr. Obama met with Mr. Bernanke last week in the Oval Office to offer him another stint as Fed chairman, a White House official said.
Looks to me like a rush job by the Obama admin, where they didn't have time to get their stories down straight. Remember, Obama wasn't planning on having any events while on vacation in Martha's Vineyard.

What's the hurry?

Could it be cover to dilute news on deficit projections?

The White House budget office and the Congressional Budget Office, a non-partisan arm of Congress, release updated economic forecasts and deficit estimates Tuesday.


  1. Also, the FDIC Q2 report comes out today. They are insolvent as of end Q2.

    Back-of-the-envelope math shows them about $3billion in the hole

    Time to tap the $500billion line of credit.

  2. Nice catch, RW. Most people read either the NYT or the WSJ, so they wouldn't have caught this.

    (I just read your site.)