Democracy Now: Divided Senate Confirms Bernanke for 2nd Term

Federal Reserve Chair Ben Bernanke has been confirmed to a second term. On Thursday, the Senate voted to 70 to 30 to approve Bernanke’s nomination to another four years. Bernanke’s nomination was the most divisive of any Fed nominee in the Senate’s history. His reappointment has come under opposition over his role in the nation’s financial meltdown and the subsequent bailout of Wall Street firms. Independent Senator Bernie Sanders was among Bernanke’s most vocal opponents.

Sen. Bernie Sanders: “I think ordinary people do not understand, average American citizens have a hard time understanding how we reward failure, how we say to someone who was asleep at the switch in terms of regulating our financial institutions, ‘Congratulations! You failed, there’s a major recession, you’re getting reappointed!’ I don’t think people understand why or how that should happen.”

~ by wheresthemic on January 29, 2010.

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