Bernanke must wait for confirmation vote

Ben Bernanke's nomination to a second term at the helm of the Federal Reserve will officially have to wait.

Sen. Bernie Sanders, I-Vt., took to the Senate floor this afternoon to announce he is officially putting a hold on Bernanke's nomination in part because of his decision to bail out Wall Street more than a year ago with billions in taxpayer dollars.

'Our country demanded a change that would put the interest of ordinary people ahead of the greed of Wall Street,” said Sanders, a self-described Democratic socialist. “What the people didn't bargain for is another four years with the key architect of the Bush economy, Ben Bernanke. The American people want a new Wall Street.”

Sanders opposition is not expected to permanently block the Senate from confirming Bernanke for a second term, but the hold maneuver will slow the the process by weeks.

 

Just Posted

You’ve heard of the Clinton Park boulders. Now, meet the Ingleside Pathway blockade

Move over Clinton Park boulders, you’ve got competition. While weeks ago a… Continue reading

Treasure Island director presents plan to extend relocation benefits to more residents

Newer residents facing displacement from Treasure Island’s redevelopment could soon get help… Continue reading

Steve Kerr addresses Donald Trump and NBA-China rift

Golden State Warriors head coach Steve Kerr addresses the mocking comments of President Donald Trump

High school mural backers move planned ballot measure to November

Group seeking to preserve controversial historic fresco and keep it visible to public

Most Read