Sanders expects Brown win to turn Dems against Bernanke

[DJ13]

01/20/10 04:56 PM ET

Scott Brown's victory in the Massachusetts Senate race could deter some Democrats from supporting Ben Bernanke's nomination for a second term at the Federal Reserve, Sen. Bernie Sanders (I-Vt.) said Wednesday.

Sanders has long opposed Bernanke's bid to head the board for another four years, and he is one of five senators who maintains a hold on his nomination. But the senator suggested in a statement Wednesday afternoon that other Democrats may soon oppose Bernanke too, sensing Democrats' defeat in Massachusetts as a sign of voters' frustration with the economy's direction.

“I sense that many Democrats see the Massachusetts election as a wake-up call,” Sanders said. “There is a growing understanding that our economy is in severe distress, a greater appreciation that people are disgusted with the never-ending greed on Wall Street, and a better recognition that we need a new direction at the Fed.

“People do not want another term for the man whose major job as Fed chairman was to protect the safety and soundness of our financial system but instead was asleep at the switch,” Sanders added. “I am confident that more and more senators understand that we need a new Fed and a new Wall Street and will oppose Bernanke’s confirmation.”

http://thehill.com/blogs/blog-briefing-room/news/77143-sanders-expects-brown-win-to-turn-dems-against-bernanke