Thank you Senator Bernard Sanders of Vermont! Looks like he will try and block the Senate from confirming Ben S. Bernanke to a second term as chairman of the Federal Reserve.
"The move is unlikely to derail Mr. Bernanke’s reappointment, but it could slow the confirmation process and give the Fed’s critics additional opportunity to press their case. As a practical matter, it means Senate Democratic leaders will have to line up 60 votes in favor of Mr. Bernanke rather than a simple majority at a time when the Federal Reserve is under increasing populist attacks from lawmakers on both the right and the left."
Mr. Sanders also said in an interview:
"In this country, there is profound disgust at what happened on Wall Street. People want a new direction and people are asking, where was the Fed? How did the Fed allow this to happen, when one of their mandates is to oversee the safety and soundness of the banking system?"
You can read more at: NYtimes.com
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