lifestyle leader

The fate of Ben Bernanke's confirmation is getting a lot of play in the US media today. Momentum for his reappointment has slowed considerably over the past few weeks, and he is losing Democratic votes by the day. The Democratic leadership is reportedly 'scrambling' to shore up Bernanke's support, but it's possible that Ben's candidacy is dead in the water. That is remarkable to me.

President Obama's new banking proposals have opened another front in the Bernanke battle, and many, like Simon Johnson, are appropriately calling on Ben to clarify his position on these reforms. There is a growing lack of confidence in Bernanke's conviction to take the fight to the banks, and without picking up that mantle in a public and convincing manner, Bernanke might be done at the Fed.

Stay tuned, this is snowballing fast.