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NEW YORK (CNNMoney.com) -- On the eve of what's expected to be a tough confirmation hearing Thursday, one senator has thrown up a political roadblock intended to stymie Federal Reserve Chairman Ben Bernanke's second term.
Sen. Bernie Sanders, I-Vt., said late Wednesday that he will put a hold on Bernanke's nomination. A hold is an informal practice in which a senator informs the majority leader that he does not want a measure or nomination to reach the floor for a vote.
"The American people overwhelmingly voted last year for a change in our national priorities to put the interest of ordinary people ahead of the greed of Wall Street and the wealthy few," said Sanders, one of Bernanke's sharpest critics, in a statement. "What American people did not bargain for was another four years for one of the key architects of the Bush economy."
Originally posted by ronpaulblican210
Touche' to bernakie refusing to name the banks that got the bail out money. Gotta love Bernie Sanders, great senator
Originally posted by 13579
he will get a 2nd term..
and you can take that to the bank.
Originally posted by Someone336
reply to post by ProtoplasmicTraveler
I always liked that Bernie Sanders guy!
We need more moral-minded senators in this country, not ones that roll over and allow those in power to step all over the general populace in the name of greed.
Originally posted by ProtoplasmicTraveler
Limiting terms probably would go a long war towards ending a lot of corruption in government.
Entrenched politicians and entrenched corporate interests seem to be made for one another!
“Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation…the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper money system, a determined government can always generate higher spending, and, hence, positive inflation.”