Controversy Unlikely to Halt Bernanke Confirmation to 2nd Fed Chair Term

Submitted by Melissa Hoffmann on Mon, 01/25/2010 - 11:59

Love him or hate him, it appears Ben Bernanke will be returning to the helm of the Federal Reserve for a second term as the nation continues to recover from the recession. After two Democratic senators (both of whom, the New York Times notes, are up for election) came out in opposition to the confirmation, the news spread to Wall Street and stocks slid for the third day in a row. But today, the White House is reportedly confident that Bernanke will be confirmed.

Appointed by the Bush administration, Bernanke helped engineer JPMorgan Chase's takeover of Bear Stearns, supported the seizure of Fannie Mae and Freddie Mac and agreed to an $85 billion rescue of American International Group.

Bookmark/Search this post with:

The New York State Society of Certified Public Accountants (NYSSCPA) encourages you to add a comment to this discussion.  You may not post any unlawful, threatening, defamatory, obscene, pornographic or other material that would violate the law.  Please note that NYSSCPA reviews all comments prior to posting. NYSSCPA may edit comments for clarity or to keep out questionable or off-topic material.  All comments should be relevant to the post and remain respectful of other authors. To view the full “NYSSCPA Blog Terms and Conditions,” click here.