Bernanke Vote: Ben Bernanke Gets a Second Term in Senate Vote
Ben Bernake will get a second term as the Federal Reserve Chairman in a senate vote that took place today.
The final vote count was 70-30 and this is just three days before Bernanke's first term was scheduled to end. A cloture vote had to be reached first however. President Obama supported Bernanke being voted in again and even made calls himself last weekend.
Bernanke actually won his vote by a very small margin and usually the vote for a Federal chairman is so overwhelming it is done by just a voice vote.
"This is not some assistant undersecretary of some other agency, this is the central bank chairman of the most important central bank in the world," Sen. Christopher Dodd, D-Conn., said in the last speech of the day on the issue. "It's a critically important component in continuing our path to economic recovery. We will bear the collective responsibility of failing to meet that obligation if we walk away. . . by continuing this filibuster or defeating this nominee."
Many Republicans and Democrats thought Bernanke deserved the blame for the current economic crisis:
"Our present economic problems are no accident," said Sen. Richard Shelby, R-Ala., a key lawmaker who works with Dodd on financial legislation. "Dr. Bernanke's Federal Reserve played a key role in setting the stage for the financial crisis we're in now."