Wednesday, December 02, 2009

"Fingers In The Wind"

I received this update from a former staffer on the Senate Banking Committee:

Just an anonymous observation, but as a former staffer for one of these Senators, I'll just point out the obvious: most of them have their fingers in the wind right now. They're leaning to confirm BB, because they don't want to be out on a limb, and there's a lot of talk coming from Wall Street that continuity is absolutely necessary to maintain investor confidence, and that BB is critical in this regard.

On the other hand, they recognize that the Fed is very unpopular. If they see signs of strong sentiment against the Fed, they may vote against him, but this is all about politics right now.

The word going around is that tomorrow's hearing has suddenly become a lot more important than it was just a few days ago.


Anonymous judyo said...

Isn't that called standard operating procedure for Congress?

12/02/2009 7:31 PM  
Blogger Vijay said...

I hope you are not so naive as to believe the sentiment of the people is of the least bit of significance. And that what is for the greater good matters one whit.

If you were not yet convinced that the banking cartel has Congress by the balls, then let the coming days be a stark lesson to you.

12/03/2009 1:58 AM  
Anonymous Anonymous said...

Got popcorn?

12/03/2009 4:10 AM  
Anonymous judyo said...

I guess my sublty didn't come thru.
Congress usually makes a show of testing "the winds" - that's what makes the electorate think that their interests are being addressed but, backroom-wise, the fix is always in and the fix is fixated on what's best for Congress.
BTW ... I'm too old to be naive.

12/04/2009 1:16 PM  
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