You know how i feel about the reappointment of this GOP Bankster to head the Fed, so I’m delighted to report this.
WASHINGTON, DC - Oregon's Senator Jeff Merkley, a member of the Senate Committee on Banking, Housing and Urban Development, issued the following statement on his intention to vote against Ben Bernanke's nomination to a second term as Chairman of the Board of Governors of the Federal Reserve System:
"Tomorrow, I will vote against confirming Ben Bernanke as Chairman of the Federal Reserve. The reason, in short, is that as Chairman, Dr. Bernanke failed to recognize or remedy the factors that paved the road to this dark and difficult recession. Following our economic collapse, it is also apparent that he has not changed his overall approach to prioritizing Wall Street over American families.
"My decision is based on my fundamental belief that our economy cannot recover if we do not put Main Street first."
This is excellent news from Merkley - a genuinely courageous stand against the Washington establishment that is asking us with a straight face to thank the man who helped create the conditions for the recession and then gave trillions of taxpayer dollars to Wall Street. And Merkley's announcement is proof positive that the progressive campaign to stop Bernanke's renomination (which OpenLeft has been a part of) is working. And with a new national poll out showing that Bernanke is wildly unpopular among the American public, there's a very real chance his nomination will be voted down in the committee tomorrow [today]… [emphasis added]
Inserted from <Open Left>
I would love to see Bernanke fail to get out of Banking. Jeff Merkley conytinues to impress me, and I’m glad i did volunteer work for his campaign.