29 January 2010

They Voted for You: Bernanke

U.S. Sens. Robert C. Byrd and Jay Rockefeller, both D-W.Va., voted to confirm Federal Reserve Chairman Ben Bernanke for a second term.

The Associated Press reports that the 70-30 roll call was "the closest vote ever for the crucial post" and followed "withering criticism from lawmakers for bailing out Wall Street while other Americans suffered in recession."

The article explains that "opponents blame Bernanke for failing to spot problems leading up to the crisis, for lax bank regulation and for not cracking down on dubious home mortgage practices. All those missteps contributed to the recession, they contend. Supporters see it far differently, crediting him with preventing the Great Recession from turning into the second Great Depression."

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