President Barack Obama Message Board

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Politics : President Barack Obama

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To: tonto who wrote (103657)	10/30/2011 2:30:29 PM
From: tejek	Read Replies (1) of 149317

I cannot find where mm claimed any such thing. Link You're right. He didn't say he was in there for life. What he did say is the only way Bernanke can be removed is through impeachment, making it appear to be a lifetime appointment. Of couse that's not true. Bernanke can be removed in other ways. I believe mm knew that the board is revolving and one member every two years completes their term. The President's term is shorter and therefore is limited to involvement for no more than eight years. The maximum term a Chair for example could potentially serve is almost 28 years, theoretically. Not really. Bernanke was appointed by Bush. His first term ended right after Obama came into office. Obama chose to keep him on......even though Obama could have found another person to replace him. Bernanke is an R.........had we been experiencing normal economic times, there is a good chance that Obama, a Dem, would have replaced him. Hence, it would be very hard for any Chair of the Fed Bank to stay in place for 28 years.......or even 8 years

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