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.

 

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