Opposition has been mounting to the reconfirmation of Ben Bernanke as Federal Reserve Chairman. In recent days, Senators Barbara Boxer (D-CA) and Russ Feingold (D-WI) and John McCain (R-AZ) announced that they would vote no. Today, Senator Tom Harkin told the DesMoines Register he would be a no vote. If Bernanke does not get a vote this week, before the formal end of his first term, it would send shock waves through Wall Street.
Although he was named Time magazine's "Man of the Year" due to his handling of the financial crisis, Boxer and Feingold reprise a bit of forgotten history. “Dr. Bernanke played a lead role in crafting the Bush administration’s economic policies, which led to the current economic crisis. Our next Federal Reserve chairman must represent a clean break from the failed policies of the past,” said Boxer.