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Thread: High and lows: Bernanke honored then denounced

  1. #1
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    High and lows: Bernanke honored then denounced

    High and lows: Bernanke honored then denounced - Yahoo! News

    Time's Person of the Year one moment; object of Senate scorn the other.

    Federal Reserve Chairman Ben Bernanke faces a vote Thursday in the Senate Banking Committee on his nomination for another four-year term as head of the nation's central bank.

    But on Wednesday, the same day Time magazine gave him its highest honor as Person of the Year, senators were lining up against Bernanke, blaming him for failing to anticipate the financial crisis and for approving massive bailouts to Wall Street's largest firms.

    Sen. Bernie Sanders, an independent liberal from Vermont, called him a "key architect of the Bush economy."

    Sanders has placed a "hold" on the nomination, meaning it will require a super-majority of 60 votes to confirm him.

    "Wall Street is very powerful," Sanders said Wednesday. "Bernanke is their guy and they want their guy to stay in office."

    Bernanke's term ends Jan. 31 and unless Sanders relents a full Senate vote on his nomination is not expected until next month.The Fed chairman is still expected to have enough support to win in committee and ultimately in the full Senate.
    I don't understand why the AP is referring to 'Person of the Year' as an honor. It isn't. It is just a long and boring essay on the biggest newsmaker of the year. Not an honor. At all.
    Last edited by Hatuey; 12-16-09 at 10:07 PM.
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