There is all sorts of scuttlebutt over getting rid of Ben Bernanke. Two Democratic senators, Barbara Boxer and Russ Feingold both started stirring up things on Friday about not re-confirming the current Federal Reserve Chairman. Before that, there were other democrats including Senate Leader Harry Reid who expressed doubts. There are already Republicans who place the financial woes on the country onto Bernanke, saying he should have known before hand.
While the Democrats and Republicans play political reindeer games, some of those who have forgotten more than most people know about all things financial seem horrified at the prospect of not having Bernanke at the helm. Warren Buffett, the financial mogul, is one such person. He has said if Bernanke is not reconfirmed he will immediately begin to sell off stock and put his money elsewhere. Wall Street dropped 4% last week over this fighting as well as Obama’s firmly administered bank spanking.