Thursday, October 25, 2012

Federal Reserve Chairman, Ben Bernanke, Going To Resign?

Ben Bernanke discussion starts at 1:11

In today's "Loose Change," Lauren and Demetri discuss some of the latest rumors regarding who will take over at the US Treasury and at the Federal Reserve if and when Tim Geithner and Ben Bernanke leave their posts after the election.

And will Ben Bernanke be back for a third term? Come January 2014, it looks like Ben Bernanke will no longer be the head of the Federal Reserve. The Chairman has told close friends that he won't seek a third term, even if Obama is re-elected and were to ask the Princeton Professor to stay, according to the New York Times. According to Andrew Ross Sorkin of Dealbook, Former Treasury Secretary Lawrence Summers would be at the top of Obama's list to replace Bernanke. However if Romney is elected, Glenn Hubbard, the chief economic adviser to Mitt Romney, would be at the top of the republican's list for Federal Reserve Chairman or Treasury Secretary. Hubbard mentioned that he would rather be Treasury Secretary than Federal Reserve Chairman if Mitt Romney wins the presidential election, according to a Bloomberg report. Lauren and Demetri discuss Washington's revolving door in today's "Loose Change."

Plus Alan Greenspan, the former Federal Reserve Chairman, spoke out against Too Big To Fail Banks during a speech at a meeting of the Securities Industry and Financial Markets Association (SIFMA), according to a tweet from Reuters reporter Lauren LaCapra. Lauren and Demetri will discuss the former fed chief's resurrection!