Senator Moves To Block Bernanke Confirmation

Federal Reserve Chairman Ben Bernanke is set to go before a Senate committee Friday that's considering his nomination to a second term. But at least one senator is ready to block his confirmation.

Vermont independent Bernie Sanders says "the American people are disgusted with the greed and recklessness of Wall Street" and asking why the Fed didn't intervene earlier to stop what Sanders calls "the casino-type activities" that led to the financial crisis. He says Bernanke should have done more to help struggling Americans, such as demanding that bailed-out banks cut interest rates on credit cards.

Sanders tells The Associated Press that he's placed a "hold" on Bernanke's nomination. The Senate would need 60 votes to override the maneuver and bring the nomination to a vote.

The move is not expected to derail Bernanke's confirmation, but it could slow down the process.

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  • by Kimo Location: Belhaven on Dec 3, 2009 at 05:57 AM
    Maybe we should put Sen. Sanders into the position since he knows so much better what needs to be done. Yeah, right...

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