BS Bernanke Nomination Hearing This Week

by: Foiled Goil

On Thursday, December 3, 2009 at 10:00 AM, the Senate Banking Committee will hold an open session hearing on the nomination of Ben S. Bernanke to a second four-year term as Chairman of the Board of Governors of the Federal Reserve System. Hearings are webcast live at: http://banking.senate.gov.

When it comes to the full Senate vote on the nomination, there's liable to be some dissent. Senator Bernie Sanders has already made it quite clear where he stands...

November 29, 2009:

Federal Reserve Fed Chairman Ben Bernanke goes before a Senate committee this week for a confirmation hearing. Foreign Policy magazine named him the world's top thinker for 2009. Sanders told ABC News he would not vote to confirm Bernanke. "No, I absolutely will not vote for Mr. Bernanke. He is part of the problem. He's the smartest guy in the world? Why didn't he do anything to prevent us from sinking into this disaster that Wall Street caused and which he was a part of? No, I will not vote for Bernanke to stay on as chairman." ABC video

August 25,2009:

"As a result of the greed, irresponsibility and illegal behavior of Wall Street our country has experienced the worst economic decline since the Great Depression," said Sanders. "Mr. Bernanke was head of the Fed and the nation's chief economist as this crisis, driven by reckless speculation, developed. Tragically, like the rest of the Bush administration, he was asleep at the wheel during this period and did nothing to move our financial system onto safer grounds."

"As the middle class of this country continues to shrink, we need a chairman of the Federal Reserve who is more concerned about expanding the productive economy -- increasing decent-paying jobs for all Americans -- than continuing to fan the flames of Wall Street greed and outrageous compensation packages."

I've got a feeling that Bernie Sanders isn't alone in his opinion.