MSM: Bernanke reconfirmed as head of Federal Reserve

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(CBC) – The U.S. Senate voted 70 to 30 on Thursday to confirm Federal Reserve chairman Ben Bernanke for a second four-year term.

Bernanke came under criticism from both Republicans and Democrats, who said he failed to respond fast enough to the financial crisis and for Wall Street bailouts.

Ben Bernanke has been confirmed for a second four-year term as chairman of the U.S. Federal Reserve.Ben Bernanke has been confirmed for a second four-year term as chairman of the U.S. Federal Reserve. (Tami Chappell/Reuters)

He was also criticized for not doing something to stop bonuses paid to bank executives even as unemployment climbed into double digits.

His supporters argue that Bernanke came to the financial industry’s rescue in time to prevent a catastrophic collapse.

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