Bernanke Supporters Push Reconfirmation
In any case, the power broker outreach strategy actually worked: Moody's downgraded Enron on November 9th, but it remained one notch above "junk," and the company avoided bankruptcy.
Less than a month later, Enron collapsed. And despite Rubin's dire predictions, world financial markets survived.
This is the kind of firepower that Robertson brings to the Bernanke reconfirmation effort. Strategic use of the rolodex coupled with frequent deployment of the self-serving financial apocalypse threat have helped her and the rest of the Rubin crew prolong plenty of frauds in the past. Bernanke is just the latest chapter in this sorry tale of crony capitalism.