Evacuate Helicopter Ben

Dan at Pruning Shears notes the bubble of resistance against reconfirming Ben Bernanke. He makes a pitch for Thomas Hoenig, President and CEO of the Federal Reserve Bank of Kansas City, suggesting Hoenig might have broader political appeal than Ben. He makes a good case for it. For instance:

Much more importantly, Hoenig appears to be less than impressed with officials’ response to the meltdown. Back in March he gave a speech titled “Too Big Has Failed” sharply criticizing the bailouts (more speeches are published here). While some details have changed since then, the overall picture has not. And while much of it seems unexceptional, it would sound downright revolutionary in the capitol...

As Dan notes, the odds do favor Bernanke’s reconfirmation but he's right that it doesn't hurt to be prepared with alternative candidates should the movement to oust him gain any real steam.

[More posts daily at The Detroit News]