Ben Bernanke’s Confirmation Dogged By Uncertainty


Ben Bernanke's confirmation dogged by uncertainty Although Fed Chairman Ben Bernanke is thought to have enough backers to easily pass the Senate confirmation vote, recent reports suggest that support may be eroding, even among liberal Democrats.

Last week, media reported that prominent Senators Russ Feingold (D-Wisc.) and Barbara Boxer (D-Calif.) confirmed they would not cast their vote for Bernanke, who was nominated for the second term by President Obama last summer.

Boxer stated that her reservations were due to Bernanke’s "lead role in crafting the Bush administration’s economic policies, which led to the current economic crisis." Feingold added that the financial excesses of recent years, including predatory mortgage lending, happened on the current chairman’s watch.

However, this morning a spokesman for Senate Majority Leader Harry Reid (D-Nev.)said the House’s top Democrat hoped to hold the confirmation vote this week, according to, a financial information website.

In addition, Senate Minority Leader Mitch McConnell (R-Ky.) predicted that Bernanke will have bipartisan support, although he declined to say whether he would vote in favor.

Uncertainty over Bernanke’s confirmation unnerved investors last week and helped contribute to the worst three-day slide for U.S. stocks since last March.

The chairman’s term ends on Jan. 31.

Personal Liberty

Special To Personal Liberty

You Sound Off! is written by our readers and appears the last Wednesday of each month. If you would like to submit an article or letter to the editor for consideration for You Sound Off!, send it to by the Friday before the last Wednesday of the month. To be considered, a submission should be 750 words or less and must include the writer's name, address and a telephone number. Only the writer's name will be published. Anonymous submissions will not be considered.

Join the Discussion

Comment Policy: We encourage an open discussion with a wide range of viewpoints, even extreme ones, but we will not tolerate racism, profanity or slanderous comments toward the author(s) or comment participants. Make your case passionately, but civilly. Please don't stoop to name calling. We use filters for spam protection. If your comment does not appear, it is likely because it violates the above policy or contains links or language typical of spam. We reserve the right to remove comments at our discretion.