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Thoughts on this? Heister brings up a good question: "Who else is going to the job? Which senior Goldman partner is planning on retiring and needs to shield millions in stock options from taxes?"

via Bloomberg:
Obama Says Bernanke Has Been at Fed 'Longer Than He Wanted'

President Barack Obama said Federal Reserve Chairman Ben S. Bernanke has stayed in his post "longer than he wanted," one of the clearest signals the central bank chief will leave when his current term expires next year.

"Ben Bernanke's done an outstanding job," Obama said in an interview with Charlie Rose that aired yesterday, when asked about nominating him for another term subject to Senate approval. "He's already stayed a lot longer than he wanted or he was supposed to."

Obama likened Bernanke's tenure to that of outgoing Federal Bureau of Investigation Director Robert Mueller, who stayed on for two years after his term expired in 2011 and is leaving his post in September. Bernanke's second four-year stint at the central bank ends Jan. 31.

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Comments (36)

  • heister's picture

    Who else is going to the job? Which senior Goldman partner is planning on retiring and needs to shield millions in stock options from taxes?

    Follow the shit your fellow monkeys say @shitWSOsays

    Life is hard, it's even harder when you're stupid - John Wayne

  • prospie's picture

    heister:

    needs to shield millions in stock options from taxes?

    How does this work?
  • heister's picture

    prospie:

    heister:

    needs to shield millions in stock options from taxes?

    How does this work?

    If you are nominated for a public policy position and are forced to liquidate a position in a company due to conflict of interest you are exempt from taxes, why do you think HP took the Treasury post.

    Follow the shit your fellow monkeys say @shitWSOsays

    Life is hard, it's even harder when you're stupid - John Wayne

  • afroman99's picture

    heister:

    Who else is going to the job? Which senior Goldman partner is planning on retiring and needs to shield millions in stock options from taxes?

    This sounds about right haha

    Prospective Banker. Gentleman. Bodybuilder.

  • mudkipz's picture

    heister:

    Who else is going to the job? Which senior Goldman partner is planning on retiring and needs to shield millions in stock options from taxes?

    bro I

    "so i herd u liek mudkipz" - sum kid
    "I'd watergun the **** outta that." - Kassad

  • Alexander Hamilton's picture

    heister:

    Who else is going to the job? Which senior Goldman partner is planning on retiring and needs to shield millions in stock options from taxes?

    It looks bad to have someone who is not a Ph.D Economist as the chairperson for the Fed. Although if anyone could be chosen, I think Dimon should get the job.

    "It's very easy to have too many goals and be overwhelmed by them... The trick is to find the one thing you can focus on that represents every other single thing you want in life." -- @"Edmundo Braverman"

  • heister's picture

    Alexander Hamilton:

    heister:

    Who else is going to the job? Which senior Goldman partner is planning on retiring and needs to shield millions in stock options from taxes?

    It looks bad to have someone who is not a Ph.D Economist as the chairperson for the Fed. Although if anyone could be chosen, I think Dimon should get the job.

    It looks bad when anyone has the job.

    Follow the shit your fellow monkeys say @shitWSOsays

    Life is hard, it's even harder when you're stupid - John Wayne

  • mudkipz's picture

    Alexander Hamilton:


    heister:

    Who else is going to the job? Which senior Goldman partner is planning on retiring and needs to shield millions in stock options from taxes?


    It looks bad to have someone who is not a Ph.D Economist as the chairperson for the Fed. Although if anyone could be chosen, I think Dimon should get the job.

    I agree - probability is against him losin billions again gud call

    "so i herd u liek mudkipz" - sum kid
    "I'd watergun the **** outta that." - Kassad

  • CanadianGekko's picture

    I doubt it will be Dimon. I'd love to see a long-shot, semi-wacky academic be considered like Nassim Taleb or Nouriel Roubini.

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  • epoch707's picture

    Ben Bernanke did a great job and the worst job during his term. Letting Lehman brothers fail is in my opinion what led to the devastating collapse of the financial system, and in turn the whole economy. In case people do not remember in 2008, solid American companies like GE were not able to tap into the capital markets to access liquidity. American auto companies and other cash intensive industries were running out and about to fail because no one was lending money.

    After that though, Bernanke did a great job. Now he can resign and find some cushy job as a ceo of a company paying tens of millions of dollars. -_-

    My finance blog: AdviceAboutFinance.com

    Twitter @samleefinance

  • heister's picture

    Knowing Obama it will be some hard core redistribution zelot.

    Follow the shit your fellow monkeys say @shitWSOsays

    Life is hard, it's even harder when you're stupid - John Wayne

  • seedy underbelly's picture

    CanadianGekko:

    I doubt it will be Dimon. I'd love to see a long-shot, semi-wacky academic be considered like Nassim Taleb or Nouriel Roubini.

    Nassim Taleb is too intelligent for a post like this.
    Though, if somehow he is chosen, the economy might still have some chance of recovering/stabilizing.

  • In reply to heister
    danny plainview's picture

    got to hear Reinhart (not Carmen, but her husband , Vincent also an Ivy League economist) speak 8 months or so ago. he said Obama will want to nominate a "first". probably first woman, maybe first minority also. Dimon for Treasury Sec later in his career for sure.

    I drink your milkshake...

  • UFOinsider's picture

    seedy underbelly:


    CanadianGekko:

    I doubt it will be Dimon. I'd love to see a long-shot, semi-wacky academic be considered like Nassim Taleb or Nouriel Roubini.


    Nassim Taleb is too intelligent for a post like this.
    Though, if somehow he is chosen, the economy might still have some chance of recovering/stabilizing.


    I'm thinking that the recovery/stabilization agenda have been the priority over the last few years. Whoever comes next would ideally have a "growth" agenda. LOL, ideally

    Every analysis points to Janet Yellen so far and I'm not sure what to make of her.

    Get busy living

  • heister's picture

    danny plainview:

    got to hear Reinhart (not Carmen, but her husband , Vincent also an Ivy League economist) speak 8 months or so ago. he said Obama will want to nominate a "first". probably first woman, maybe first minority also. Dimon for Treasury Sec later in his career for sure.

    Its shit like this that pisses me off, he is more worried about picking a 1st or his legacy to actually make choices that are in the nations best interest. Could a woman do the job as well as a man sure, but the criteria need to be job compentcy and abilities not just picking a black woman to do the job for the sake of making a "ground breaking" pick.

    Follow the shit your fellow monkeys say @shitWSOsays

    Life is hard, it's even harder when you're stupid - John Wayne

  • DBCooper's picture

    Yellen. Or god forbid Larry "I fuck up everything I touch" Summers.

    Please don't quote Patrick Bateman.

  • Amphipathic's picture

    heister:

    danny plainview:

    got to hear Reinhart (not Carmen, but her husband , Vincent also an Ivy League economist) speak 8 months or so ago. he said Obama will want to nominate a "first". probably first woman, maybe first minority also. Dimon for Treasury Sec later in his career for sure.

    Its shit like this that pisses me off, he is more worried about picking a 1st or his legacy to actually make choices that are in the nations best interest. Could a woman do the job as well as a man sure, but the criteria need to be job compentcy and abilities not just picking a black woman to do the job for the sake of making a "ground breaking" pick.

    Amen

  • heister's picture

    UFOinsider:

    seedy underbelly:


    CanadianGekko:

    I doubt it will be Dimon. I'd love to see a long-shot, semi-wacky academic be considered like Nassim Taleb or Nouriel Roubini.

    Nassim Taleb is too intelligent for a post like this.
    Though, if somehow he is chosen, the economy might still have some chance of recovering/stabilizing.

    I'm thinking that the recovery/stabilization agenda have been the priority over the last few years. Whoever comes next would ideally have a "growth" agenda. LOL, ideally

    Every analysis points to Janet Yellen so far and I'm not sure what to make of her.

    Na its the government man, its the "well if shit isn't hitting the fan we aren't doing it right" world view.

    Follow the shit your fellow monkeys say @shitWSOsays

    Life is hard, it's even harder when you're stupid - John Wayne

  • OkComputer's picture

    Jon Corzine will be the nominee. Sorry for the spoiler folks.

    "Better to remain silent and be thought a fool than to speak out and remove all doubt." --Abraham Lincoln

  • TNA's picture

    Yeah, Obama has zero interest in picking someone who might be a good chairman. He is only interested in the optics. I cannot believe this clown was elected twice.

    This country deserves to be a relic.

  • UFOinsider's picture

    heister:

    UFOinsider:
    seedy underbelly:

    CanadianGekko:

    I doubt it will be Dimon. I'd love to see a long-shot, semi-wacky academic be considered like Nassim Taleb or Nouriel Roubini.

    Nassim Taleb is too intelligent for a post like this.
    Though, if somehow he is chosen, the economy might still have some chance of recovering/stabilizing.

    I'm thinking that the recovery/stabilization agenda have been the priority over the last few years. Whoever comes next would ideally have a "growth" agenda. LOL, ideally

    Every analysis points to Janet Yellen so far and I'm not sure what to make of her.

    Na its the government man, its the "well if shit isn't hitting the fan we aren't doing it right" world view.


    LOL I'm fast coming around to this point of view. If it aint broke, "Shit, we'd better do something about that!". Gov't reduces interest rates, encourages every moron on earth to buy a house, gives free reign to unregulated market, fuels real estate bubble, lets major bank explode, fails to prevent recession, more or less fixes recession, prosecutes inside traders to prove "oh hai look we do our jobs", net result lost decade, still waiting for growth period......did I miss anything?

    Get busy living

  • WSO2015's picture

    serious proposal...Roger Ferguson? satisfies the minority thing thats being thrown around

  • blackthorne's picture

    I'd like to see Rogoff

  • victory39's picture

    Siegel. I'm not sure if his ideology exactly aligns with the current government, but I don't think I've ever met anyone else quite as remarkable when it comes to this sort of stuff. He has his finger on the pulse of the market at any given moment. Took a course with him at Wharton and it felt like every class I would ask myself, "Why is this guy not in charge of the economy?"

    Clear Eyes, Full Hearts, Can't Lose.

  • SirTradesaLot's picture

    UFOinsider:
    Janet Yellen
    My guess as well.
    UFOinsider:
    so far and I'm not sure what to make of her.
    I went to one of her speeches a year or two ago. I can't tell you everything about her, but I can tell you that she was extremely boring to listen to.

    adapt or die:
    What would P.T. Barnum say about you?

    MY BLOG

  • In reply to UFOinsider
    txjustin's picture

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  • UFOinsider's picture

    Get busy living

  • Illuminate's picture

    "My dear, descended from the apes! Let us hope it is not true, but if it is, let us pray that it will not become generally known."

  • Bondholm's picture

    Snootchie Bootchies