F%$# President Manchin
It looks like Joe “Maserati” Manchin is going to oppose Biden’s nomination for Federal Reserve Vice Chair for banking regulation because he makes too much money from fossil fuels.
He’s got an explanation, but it is stupid enough, and incoherent enough, that it’s clear that this decision is about his own not-inconsiderable personal fortune and his big donors:
A key Democrat came out against Sarah Bloom Raskin’s nomination to become the Federal Reserve’s top banking regulator, likely dashing her chances of confirmation.
Sen. Joe Manchin (D., W.Va.), a pivotal vote for Democrats in the 50–50 Senate, said Monday that he couldn’t support Ms. Raskin’s nomination, citing her views on addressing climate change.
Democrats now would need the support of at least one Republican to confirm her, though no Senate Republican has signaled so far that they would back her.
“Unless there is a white knight hiding somewhere in the Republican caucus, it looks like Raskin’s nomination is effectively toast,” said Isaac Boltansky, director of policy research at brokerage firm BTIG.
For weeks, Ms. Raskin’s nomination to become the Fed’s vice chairwoman for banking supervision has been stuck in the Senate Banking Committee after Republicans opposing her refused to attend a crucial committee vote. The move deprived Democrats of a quorum needed to advance her to the full Senate along with President Biden’s four other Fed picks — including Chairman Jerome Powell, who has been nominated for a second term leading the central bank.
Occasionally, there is a difference between a conservative Democrat and a disloyal one, though to be honest, no examples immediately come to mind.
Manchin is a disloyal Democrat, and it is better to have him outside the tent pissing in than it is to have him inside the tent pissing in, which is what he, and Kyrsten Sinema, have been doing for the past year.