Early fireworks in Bernanke confirmation drama

[cal04]

http://politicalticker.blogs.cnn.com/2009/12/02/early-fireworks-in-bernanke-confirmation-drama/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+rss%2Fcnn_politicalticker+%28Blog%3A+Political+Ticker%29

On the eve of what's expected to be a tough confirmation hearing Thursday, one senator has thrown a political roadblock intended to stymie Fed Chairman Ben Bernanke's second term.

Bernie Sanders, I-Vt., issued a statement late Wednesday saying he will prevent Bernanke's nomination by placing a hold, an informal practice by which a senator informs the majority leader that he does not wish a particular measure to reach the floor for a vote.

"The American people overwhelmingly voted last year for a change in our national priorities to put the interest of ordinary people ahead of the greed of Wall Street and the wealthy few," said Sanders, one of Bernanke's sharpest critics, in a statement. "What American people did not bargain for was another four years for one of the key architects of the Bush economy."

Sanders said Bernanke, who took the helm of the Fed in 2006, could have averted the financial crisis in several ways, but failed at "core responsibility of the Federal Reserve" and thus "it's time for him to go."

(snip)
Majority leader Sen. Harry Reid, D-Nev., would not need to recognize Sanders' hold, but Sanders could filibuster the motion to nominate the Fed chairman for another 4-year term.

[dhpgetsit]

1. Sanders is one of the very few good guys in Congress. nt

[valerief]

2. I wish we had 100 Bernie Sanders. Make that 500 (we need him in the House, too). nt