Bernanke On The Hot Seat

Just in case you missed it, a reminder that Bernanke is going to be on the Hill tomorrow defending himself and the Fed in the case of BofA’s purchase of Merrill. It might be interesting, at least it will be a preview of the battle that might shape up over his reappointment as Fed Chairman.

For whatever reason the Republicans seem to be setting this one up as something they use to pound the administration. I don’t think it’s much of a strategy or at least one that’s going to garner many votes but then again, I’m not a politician.

If you want to study up, Clusterstock has the emails that evidently constitute the smoking gun. I breezed through them and didn’t see anything that shocking and Joe Wiesenthal is of the same opinion. That doesn’t mean they couldn’t spring a surprise tomorrow.

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