Today: Bernanke & Disclosing Federal Loans
Oh, man. Ben Bernanke got Obama out of his vacation today to announce that he would nominate Bernanke again for chairman of the Federal Reserve. Earlier today, I wondered why Obama would do that since the administration said there would be no news while Obama was on vacation. I also wondered why now, since Bernanke's term doesn't end until February 1, 2010. It also seemed strange that Bernanke was right there next to Obama during the announcement (was he on vacation with the president?).
The answer became a little clearer when Bloomberg announced a little while later that the Fed would have to come clean on the emergency loans they provided. Up to this point, the Fed refused to disclose any such information.
There sure are a lot of questions to take up here, but here are a few you might consider: How are the two event connected? What are we going to find out about the Fed emergency loans? Was it a good idea for Obama to try and act pre-emptively on Bernanke, when he usually lets the dust settle?
Post your thoughts below and let's get the conversation started.