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TOPIC: FRB: "John McCain is latest 'no' on Ben Bernanke" (Politico 1/25/10)


Diamond

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FRB: "John McCain is latest 'no' on Ben Bernanke" (Politico 1/25/10)
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POLITICO

"

John McCain is latest 'no' on Ben Bernanke

Sen. John McCain (R-Ariz.) is the latest in a string of senators to announce his opposition to Federal Reserve Chairman Ben Bernanke, joining an eclectic mix of conservatives and liberals who are trying to kill the nomination before Bernanke’s term expires Jan. 31.

“Our country is still facing an economic crisis and while I appreciate the service that Chairman Bernanke has performed as Federal Reserve Chairman, I believe that he must be held accountable for many of the decisions that contributed to our financial meltdown," McCain said in a statement. “Therefore, I plan to oppose Chairman Ben Bernanke’s confirmation for a new term as Federal Reserve chairman.”

Seventeen senators have publicly declared their opposition to reappoint the embattled Federal Reserve chairman, including four Democrats, 12 Republicans and one independent. But Bernanke seemed to have picked more momentum on Monday, and 35 senators officially have committed their "yes" votes — with the most recent support coming from Senate Finance Committee Chairman Max Baucus and Sen. Dianne Feinstein (D-Calif.).

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I am not particularly opposed to Chairman Ben Bernanke, but can see that reinstating him is probably going to be the best thing to do under the economic circumstances of great instability/downward spiraling that is going on right now. 

On a related note, I wonder how many Senate votes is Time Magazine "Person of the Year" good for. LOL

-- Edited by Sanders on Monday 25th of January 2010 07:39:00 PM

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