Senate backs Bernanke for second term at Fed

[Cali_Democrat]

http://finance.yahoo.com/news/Feds-Bernanke-nomination-rb-2540255726.html?x=0&sec=topStories&pos=main&asset=&ccode=

By Mark Felsenthal and Thomas Ferraro

WASHINGTON (Reuters) - The U.S. Senate on Thursday approved Ben Bernanke's nomination to a second four-year term running the Federal Reserve, the world's most powerful central bank, despite deep misgivings over his perceived policy missteps.

The Senate voted 70-30 to confirm Bernanke, after clearing a procedural hurdle with the support of 77 senators.

Bernanke won the Senate's needed backing despite the stiffest opposition to any nominee for Fed chairman in the nearly 32 years the Senate has voted on the position.

Senators credited Bernanke with steering the U.S. economy through a wrenching financial crisis but leveled withering criticism at him for policies they argued sowed seeds for the turmoil and for an initial slow response.

Read more at link.

[Hardrada]

1. Banks wanted him and they run the place.

[BobRossi]

2. "Change"

My ass.

[Cali_Democrat]

3. I think Obama wants stability in this time of crisis

Stability is what is needed right now and that's the reason why Bernanke was nominated to a second term.

[Raineyb]

4. You don't leave the person in charge who was in charge when the shit hit the fan

and expect anything will be fixed. At least you don't if you actually want something fixed which is not an assumption I'd make at this point.

[Cali_Democrat]

5. Well to be fair to Ben Bernanke.....

The economic structural defects were in place long before he was the fed chairman. But he did continue the many of the same policies and that's unfortunate.

[quantass]

6. Bank stocks were up today -- They got their boy re-confirmed for another 4 yrs nt