The Latest On Bernanke: Obama Now Directly Calling Senators To Generate Favorable Votes
Senator Dick Durbin has said that he hopes the Senate will reconfirm Bernanke by the end of the week, and
that President Obama is actively calling senators to boost Bernanke.
One wonders if this weekend's massive campaign to push for Bernanke has been insufficient.
And other news we have gotten recently:
- These are senators who have recent voiced their support for Bernanke recently:Bennett, Nelson, Byrd, Hagan.
- These are still undecided: Leahy, Udall, Cardin, Klobuchar, Thune
In order to placate Senators, Bernanke promises that the Fed will be more "accountable and transaprent" - we wonder, to whom will it be transparent, and just how will it be accountable, especially the next time the market crashes and all banks require yet more bailouts.
Federal Reserve Chairman Ben S.
Bernanke pledged “transparency and accountability” at the
central bank, especially on the American International Group
Inc. bailout, while reiterating his opposition to audits of
monetary policy, Senate Majority Whip Richard Durbin said.
“He was very frank and candid in acknowledging that
mistakes were made at many different levels” before the
financial crisis, Durbin of Illinois, the second-highest-ranking
Democrat in the Senate, told reporters today after meeting with
Bernanke on Capitol Hill.
Bernanke acknowledged “that some of the early statements
made for example about AIG counterparties went too far,” Durbin
said. “He said at this point he can say clearly that there will
be transparency and accountability at the Federal Reserve.”
Senate leaders plan to hold a vote this week on Bernanke’s
nomination for a second term starting Feb. 1.
Bernanke, 56, is the “best person for the job,” Durbin
said. Because some Democrats will oppose Bernanke, some
Republicans would need to join Democrats in supporting the Fed
chief, Durbin said.
“I don’t take anything for granted until the final vote,”