We are no better than them

[grantcart]

61. apparently you didn't understand my post

because there is nothing in my post that contradicts anything you posted.

I like Bernanke and like Yellen as well. I think that there are real limits what the FED can and should do.

There are many progressives who objected to Bernanke's confirmation:

http://www.huffingtonpost.com/2009/12/01/ben-bernanke-confirmation_n_375139.html

Ben Bernanke Confirmation Targeted By Progressives With 'Stop Bailout Ben'

Federal Reserve Chairman Ben Bernanke is up for confirmation this Thursday for a second four-year term. Despite rising public anger at the Fed over the secretive bailouts, the Senate Banking Committee is widely expected to approve President Obama's choice.

But Chairman Chris Dodd (D-Conn.) says it's "not necessarily" a foregone conclusion. Now, a group of progressives are trying to make it a real fight.

The Progressive Change Campaign Committee has launched a petition at StopBailoutBen.com, urging senators to vote against Bernanke. In an email to supporters, they highlight a conversation between the Fed chairman and Rep. Alan Grayson (D-Fla.) in which Bernanke said "I don't know" which foreign banks got half-a-trillion U.S. dollars in exchange for foreign currency.

So by floating Summers name the President got the most rabid critics to bite on Summers so that when Yellen came up they all fall in line for her, thereby eliminating a split on the left for confirmation of Yellen.

At the time I couldn't understand why Summers name came up because the FED operates with a consensus/collegiality that would have been a terrible fit for Summers personality (leaving aside for a moment ideological questions).

For that reason I found it quite puzzling.

It seems quite clear now. Put out a rumor on Summers so that people fall in line with Yellen.