published Thursday, January 28th, 2010

Bernanke wins second term as US Fed chairman

WASHINGTON — The Senate has confirmed Ben Bernanke for a second term as chairman of the U.S. Federal Reserve.

The Senate voted 70-30 on Thursday to reappoint Bernanke amid criticism of his judgment ahead of the US financial crisis and his support for massive Wall Street bailouts. His supporters credited him for engineering a financial industry rescue in time to prevent a catastrophic collapse.

The vote was the closest ever for a nominee for Fed chairman. It came amid roiling public anger over the economy and stubbornly high unemployment that fueled a populist backlash against Bernanke. No Fed chairman has been rejected in the Senate.

Bernanke's current term expires Sunday.

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matt_from_chatt said...

Prevent a catastrophic collapse? I think all he did was helped to DELAY it. Did anyone really think an economy that depends on infinite and uninterrupted growth can last? We are headed for trouble and Bernanke cannot stop it.

Watch "Money as Debt" (google it or watch it on youtube). If you didn't know much about our banking system, this will really open your eyes.

January 28, 2010 at 5:20 p.m.
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