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Toomey says he’d vote against Bernanke

Toomey says he’d vote against Bernanke

Republican Senate candidate Pat Toomey said Thursday that he would vote against reconfirming Ben Bernanke as Fed chairman if he were in office, positioning himself with those critics of Bernanke who are looking to deny him an other term.

In a campaign statement, he criticized the Fed for keeping interest rates so low in the earlier part of the decade. Toomey held the 15th District House seat during some of that period.

“This was a difficult decision,” Toomey said. “I have great respect for Chairman Bernanke’s intellect and expertise, and I believe he has tried to do what he believes is best for the country and its economy. However, Chairman Bernanke’s refusal to acknowledge the role the Fed played in creating the current financial and economic crisis leaves little assurance that the Fed will not repeat those errors under his continued leadership.”

“In addition,” he added, “I have concerns about Chairman Bernanke’s participation in the extralegal activities in the fall of 2008 and the recent politicization of his confirmation, which raises question about his potential susceptibility to political pressure. I have a lot of respect for Chairman Bernanke, but it is crucial that we learn from the mistakes that led to this economic crisis. Without that acknowledgment, I cannot give him my support.”

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January 28, 2010 at 2:03 pm

--Dan Hirschhorn

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  1. HateSestak

    Jan 28th, 2010

    YAWN.

  2. 95 South

    Jan 28th, 2010

    Cannot wait to cast my ballot for Pat Toomey

  3. David Diano

    Jan 28th, 2010

    95 south-
    If you can’t wait, contact your local Republican leadership for ballot stuffing and other voter fraud instructions.

  4. leftylucie

    Jan 28th, 2010

    Pat Toomey created, marketed and sold the toxic assets that blew up the economy. He was directly involved in the Wall Street machine of fraud, deception and snake oil salesmen which cost taxpayers trillions of dollars in government bailouts to him and his friends. He also is a part of the machine that gobbled up every kind of pension, education and other public investments in order to scam off a percentage and throw the rest into the garbage he was creating. Interest rates were not the problem. Fraud was the problem. Self-dealing was the problem. It still is and Tooomey is a part of it.

  5. David Diano

    Jan 28th, 2010

    leftylucie-
    Don’t forget he was the member of the Club for Growth (and it’s not a hair restoration club).

    His tax cuts for the super-rich policies have driven up the deficits.

  6. Ed H.

    Jan 28th, 2010

    David Diano-

    Otherwise known as the “Bush Backdoor Tax Hikes”. Toomey supported them, at the cost of the economy and deficits.

  7. 95 South

    Jan 28th, 2010

    Diane Davo, the Liberal Dems are the Masters of the Universe of Fraudulent Voting!!! Having the Thugs from Chicago in charge, the old saying is now changed to one man, 10 votes.

    The “urgency” for immigration reform is only a veil to flood the voter registration process with so many “new” voters before the mid terms, that NOBODY will be able to deivine who can actually vote. Then the Democrooks, can claim whatever number of votes they need.

  8. WESTPADEM6

    Jan 28th, 2010

    Republicans are the ringmasters of disenfranchisement for starters 95 South.

  9. David Diano

    Jan 28th, 2010

    69 South
    Hang out with the Delco GOP. Chicago fraudsters dream of being like them when they grow up.

    Immigration reform? You think enough immigrants are going to gain legal status, sign up for citizenship, pass citizenship, register to vote, and pick enough Democrats to flip elections all before the mid-term elections in a “secret plot” hidden from the public?

    Do you have any idea how that sounds?

  10. 95 South

    Jan 28th, 2010

    Westpadem6, I can give a full historical perspective of the DEMOCRATS disenfranchising votes from the midst of the civil war, through, and continuing to today, but you already know that, but dutifully have to blame the other guys.

    Diane Davo, the DELCO GOP did not steal the 1960
    election, as did the Chicago Machine. And, Diane,
    my last point illustrates that the Liberals wish to fastrack “immigration reform” to allow illegal aliens the opportunity to vote in the upcoming 2010 mid-terms, without the proper registration procedures being observed, but hey, when did the votong laws ever matter to the Libs, unless they were breaking them.

  11. Ed H.

    Jan 29th, 2010

    Funny how Pat Toomey is criticizing the Fed keeping interest rates so low, yet the bulk of that time was during Greenspan’s tenure in the early part of the decade. And Pat Toomey was strangely silent during that time, when it looked like the economy was doing well and he was a congressman from the party that took credit for it.

    If Toomey wants to be a part of a club for growth, then he should end his opposition to health care reforms and support the President in finding ways to create jobs and go past just cutting taxes for corporations and wealthy families, especially when cutting taxes alone doesn’t have a good record of economic growth.

  12. James

    Jan 29th, 2010

    A lot of bitter people on here clearly see the writing on the wall and realize Specter’s career has 9 months to live. Guys like Pat Toomey and Tom Corbett are the future of Pennsylvania, while Arlen Specter and Ed Rendell represent this state’s ugly past. Let’s hope we never see the likes of these “progressives” again.

  13. David Diano

    Jan 29th, 2010

    James-
    Pat Toomey and his policies would create an even uglier future with higher deficits and less accountability.

  14. James

    Jan 29th, 2010

    David Diano, you have no credibility left in my opinion. You refuse to ever, EVER, criticize anything that Specter has done. You and Specter are like Chris Matthews and Barack Obama. I bet you get a thrill up your leg whenever you hear Specter give one of his always exciting speeches.

  15. HaverfordDemocrat

    Jan 29th, 2010

    Its a shame that no one has the time to go back and find Dave’s comments from 2004. I can guarentee you that he was writing how great Joe Hoeffel is and why we need to get rid of Arlen Specter, the GOP hack.

    Well, actually, Dave you probably have the time to look that up. What do you do with your free time? Sit at home and wait for Specter to do something that you can praise? Do you talk to the walls? They probably tell you that they hate Sestak, too. Maybe Mom and Dad don’t like him also? After all you were asked to not go to the office. No on has said that you were not allowed to help, just that you had to stay away from certain staffers.

  16. David Diano

    Jan 29th, 2010

    James-
    I didn’t realize it was my job to criticize Specter. My point has been that Sestak is completely unfit for higher office, especially a six-year Senate seat, and is a phony as a progressive Democrat. Also, he can’t beat Toomey. I’m not sure if Specter can, but I’m positive Sestak can’t.

    Haverford Dem-
    I would GREATLY prefer Hoeffel over Specter. But, he’s not running for Senate. I’ve got no love for Arlen, but I trust him more than Sestak.
    Specter is the less crappy candidate and he’s the only one of the two that stands a chance of beating Toomey.
    If Sestak were an honest-to-goodness progressive, I might consider giving him a pass. But, I think Sestak (left to his own devices) is about as progressive as Joe Lieberman.

    A lot of us had to grit our teeth to vote for Casey, but we did it because he was the guy to beat Santorum.

    “asked not to go to the office?”
    I was never asked, told or suggested any such thing by anyone in the campaign. If they had such a “policy”, I was never informed of it. I was practically on speed-dial when they had a problem.

  17. L. Summers

    Jan 31st, 2010

    In 1999, Congressman Toomey voted to repeal the Depression Era Glass Steagall Act:

    http://clerk.house.gov/evs/1999/roll570.xml

    So did Senator Specter:

    http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=106&session=1&vote=00354

    Admiral Sestak was not a Member of Congress at the time. Which of these three candidates will take the initiative and either admit a mistake in voting for repeal (or criticize the others’ votes) and, above all, put Glass Steagall back in place where it belongs. Or, are all three of these guys in bed w/ the bankers?

  18. Ed H.

    Jan 31st, 2010

    I gotta go with David Diano on this. I sure would have liked and would still like to see Hoeffel in that Senate seat over Specter, Sestak and Toomey. But that was the 2004 race, and Sestak’s ship is sinking. Plus, Arlen Specter has been a political survivor and Toomey may yet be booted from the show (as he should be).

  19. Ed H.

    Jan 31st, 2010

    Oh… BTW… Canada had very low interest rates (about the same as the U.S.) during the time in question that Toomey is complaining about, and Canada didn’t go through the financial disaster that we or many other countries did.

    http://krugman.blogs.nytimes.com/2010/01/30/worthwhile-canadian-example/

    Toomey was a Wall Street trader? Glad i didn’t have my money invested with him.

  20. WiseOne

    Jan 31st, 2010

    THE GATEKEEPERS OF THIS WEB SITE DELETED MY COMMENTS ABOUT SPECTER AND TOOMEY VOTING TO REPEAL THE GLASS STEAGALL ACT IN 1999, AN ACTION THAT RUINED OUR BANKING SYSTEM. WHY IS PA2010.C0M AN UNDEMOCRATIC SITE? WHO CONTROLS IT? LET’S HEAR FROM DIANO AND OTHERS ON THIS.

  21. David Diano

    Jan 31st, 2010

    WiseOne-
    Did your posting have links?
    You might be able to get by altering the link somewhat, like adding some spaces (and indicating them so we can reassemble them0.

  22. Dan Hirschhorn

    Feb 1st, 2010

    Hey WiseOne,

    As editor of pa2010.com, I can personally assure you that no such comment was deleted. I looked back at our comment database and didn’t see it. But we’ve been having a few glitches here and there, and you’re not the first person to encounter this problem.

    Nonetheless, my sincerest apologies that it didn’t post.

    Open dialogue is critical to us. If you’re ever having trouble getting a comment through, please feel free to e-mail me the body of it at editor@pa2010.com. I’ll be happy to make sure it gets online.

    Sorry again.

    Dan Hirschhorn

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