Put Your Votes Where Your Mouths Are

by digby

This would be a wonderful way to force the Republicans to show their stripes and prove their populist rhetoric is hot air. And if they get on the bandwagon, that’s ok too.

Ben Bernanke’s nomination to serve a second term as chairman of the Federal Reserve appears to be in peril. Bernanke is up for a second term at the Fed; his current term expires in 10 days on Jan. 31. A handful of Senators had previously threatened to filibuster the nomination, but this week the number of opposing lawmakers appeared to grow, further dimming his prospects for installment.

“I think it’s worthy of a review,” said Sen. Bob Casey (D-Pa.), who is undecided.

Majority Leader Harry Reid (D-Nev.) met with Bernanke on Thursday, one day after Democrats voiced concerns during their weekly policy luncheon about the nomination. In a statement after his meeting with the Fed chairman, Reid was coy, saying the two met “to discuss the best ways to strengthen and stabilize our economy.”

“The American people expect our economic leaders to keep Wall Street honest and level the playing field for middle-class families, and I will continue to hold their feet to the fire to ensure this happens,” Reid said. “As the Senate prepares to take up Chairman Bernanke’s nomination, I look forward to hearing more from him about how he intends to address these issues.”

At Wednesday’s Democratic caucus meeting, according to Senators, liberals spoke out against confirming Bernanke for a second term. Those liberals tried to make the case that the White House needs to put in place fresh economic advisers to focus on “Main Street” issues like unemployment rather than Wall Street concerns. Moderates were more reserved, Senators said, but have similarly withheld their support for Bernanke.

If Bernanke gets confirmed with only Republicans and Corporate Senators I think some valuable lines will have been drawn. If liberals would filibuster his nomination it would be even better. Some fights are very, very clarifying educational tools for the electorate.

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