Happy Baby Ben Bernanke... He's Been 'Given' 4 More Years as Chairman of US Federal Reserve to Continue Looting America!

Submitted by SadInAmerica on Sat, 01/30/2010 - 12:24am.


Mr Bernanke was re-nominated as Fed chairman by President Barack Obama in August, subject to confirmation by the US Senate. (Look out America hide your silverware! ~ S.I.A)

Senators voted 70-30 in favour of his nomination - the closest vote in the 97-year history of the central bank - following an afternoon of debate discussing his first four-year term, his role in the financial crisis, and whether his apparent closeness to the Obama administration might impact on the Fed's independence.

Although it looked for some time as if it would be a much closer call, in the final simple majority vote, 22 Republicans joined with 48 of their Democrat colleagues to back his nomination.

Several Republican Senators who had not previously indicated their intentions backed Mr Bernanke as the "better the devil you know" candidate, fearing who President Obama might nominate in his place.


Happy Baby Ben!

But some remained unconvinced, with Senator Richard Shelby, saying: "Bernanke fiddled while our markets burned."

The Obama administration breathed a sigh of relief at the vote, following a tumultuous week in which it lost its 60-seat control of the Senate, with Tim Geithner, Treasury Secretary, saying the upper chamber of the US Congress "did the right thing."

Mr Bernanke's first term was due to expire at midnight on Sunday, January 31.

January 28, 2010 - source TelegraphUK

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Submitted by SadInAmerica on Sat, 01/30/2010 - 12:24am.