THE DOT - if this turns orange or red be alert

Thursday, January 28, 2010

Bernanke on hişs way to a next term and America is doomed

77 Senators did not live up to their duty because they are insane or corrupt - no reasonable excuse for an 'AY' vote so we can assume that the latter reason is the overwhelming ground for their vote. That he got nominated by Obama and also had appointed Geithner speaks volume who he works for despite all his snake oil salesman wit and speeches - actions speak louder than words.


Fed Chairman Wins Key Vote, Clearing Way for Confirmation

Federal Reserve Chairman Ben Bernanke won a key procedural vote in the Senate, clearing the way for his confirmation for a second term running the world's most powerful central bank.

The Senate is now moving to final confirming vote.

Ben Bernanke
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Federal Reserve Bank Chairman Ben Bernanke

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

Senators debating his nomination 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.

"Bernanke fiddled while our markets burned," said Senator Richard Shelby, the top Republican on the Senate Banking Committee.

While Bernanke appears to have survived a revolt by lawmakers responding to a surge of public anger at big banks and their regulators, including the Fed, he still faces acute political pressure to ease economic strains.

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