Please Send This Letter to Your Senators in Opposition to the Bernanke Nomination
My dear Senator, I am writing to urge you to vote against the confirmation of Ben Bernanke for a second term as Chairman of the Board of Governors of the Federal Reserve System. Bernanke has failed in his responsibilities both as a banking regulator and in his administration of Federal Reserve lending. Bernanke presided over the final phase of the $1.5 quadrillion financial derivatives bubble which is the central cause of the present world economic depression. He was the principal advocate for the reckless and irresponsible policy of bailing out bankrupt money center institutions, allowing them to live on as zombie banks at astronomical taxpayer, but with no corresponding benefit whatsoever for the economic life of the broader society. [...] Today’s newspapers suggest that Bernanke, even if he should be rejected by the Senate this week, would still attempt to stay in power as a member of the Board of Governors through 2020, exerting his power through his colleagues presently on the board. This would amount to nothing less than a bankers’ insurrection. In this eventuality, the Congress must swiftly impeach Bernanke and remove him from office immediately.