Key senator backs Bernanke confirmation
[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2009/images/12/03/art.ben1203.gi.jpg caption="Sens. Dodd and Shelby spoke out Thursday about Fed Chairman Ben Bernanke."]
NEW YORK (CNNMoney.com) - Federal Reserve Chairman Ben Bernanke got an endorsement from Senate Banking Committee Chairman Chris Dodd at the start of his confirmation hearing Thursday, even as Dodd called for a removal of some of the central banks current powers.
Dodd said Bernanke and the Fed deserved credit for the steps taken in the financial crisis of a year earlier to stop the economic crisis from becoming significantly worse than it did.
"I believe you are the right leader for this moment in the nation's economic history and it would send the right message to markets," Dodd said during his opening statement.
But the committee's ranking Republican, Sen. Richard Shelby of Alabama, was far more critical of Bernanke in his opening statement, telling Bernanke "I fear now our trust and confidence (in the Federal Reserve) was misplaced." He did not say whether he would vote for or against confirmation, though.
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Sen. Dodd has never taken responsibility for his lack of OVERSIGHT!!
And re-confirming Bernanke, who brought our country to the brink of DISASTER, will guarantee neither man will be held accountable!
Obama – get rid of the Bu$h boyz, Bernanke and Geithner.
If dodd's supporting him, he can't be that good!
Dodd endorsing someone in the finance sector for a position of public trust is like the fox endorsing a weasel for honesty in policing the hen house.
Why is Dodd not in jail??
If Ben Bernanke got an endorsement from Crook Chris Dodd we all know Ben Bernanke needs to go. If we're lucky he'll take Dodd with him.
Wow....getting an endorsement from Dodd, one of the architects of the entire mortgage meltdown that led to our country suffering it's current financial situations....a crook in every right....and he's a "key," democrat? haha....
americans dont believe anything dodds says.... just look at the mess he and barney frank has gotten us into ....
If someone sets fire to a house, then puts half of it out, managing to save half of the house, is he commended on saving half of it? In the strange world of politics funded by taxpayer money, he apparently is.
Well...as long as Dodd's ok with him....
Christopher Dodd should be forced to resign for his role in the economic collapse...keep him (and Barney Frank) away from anything to do with finance.
Senator Chris "Fannie-Freddie-CRA-food-stamp-mortgage-housing-bubble-creator" Dodd backs Bernanke?
That endorsement should speak volumes about Bernanke's competence and character. My grandmother once said, "You're no better than the company you keep."
Dodd and Bernanke are the apples from the same tree.
An endorsement from Dodd should be the kiss of death.
Bernanke was a good choice when bush appointed him but now that Obama reappoints him the republicans dont want him.How does this make any sense to the average american.
Figures, the two men who were most responsible for the crash would support each other!
Dodd also needs to go. So does Bernanke. Abolish the Federal Reserve.
Too many people fail to realize that Mr. Bernanke almost single-handedly helped avert the Great Depression II. When history books are written he will be one of the heroes.