Video: Chris Dodd With Citizen Journalist Mike Stark -- November 20, 2009
Just six weeks after he told Reuters it was essentially a done deal, Senate Banking Committee Chairman Christopher Dodd punted when asked about the likelihood of Federal Reserve Chairman Ben Bernanke's confirmation for a second term.
Asked by a citizen journalist if it was a foregone conclusion that Bernanke's nomination for a second term would be confirmed by the Senate, Dodd replied: "Not necessarily, not necessarily. We'll see how members react."
"While I have had serious differences with the Federal Reserve over the past few years, I think reappointing Chairman Bernanke is probably the right choice. Chairman Bernanke was too slow to act during the early stages of the foreclosure crisis, but he ultimately demonstrated effective leadership and his reappointment sends the right signal to the markets.
There will be a thorough and comprehensive confirmation hearing. I still have serious concerns about the Federal Reserve's failure to protect consumers and I strongly believe these responsibilities should go to an independent consumer financial protection agency. I expect many serious questions will be raised about the role of the Federal Reserve moving forward and what authorities it should and should not have."
In the video, Dodd also acknowledged some of his own shortcomings as a member then chairman of the banking committee, in the context of Bernanke's recent performance:
"He's been better on some of these issues, which I wish I'd paid attention to years before."
Read the rest of the article at Huffington Post >>
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