Bernanke seeks 2nd term as US Fed chief
Friday, 4 December 2009
From Fazle Rashid
NEW YORK, Dec 03: Ben Bernanke, the US Federal Reserve Chairman who was a Bush nominee and is a key person in the world finance, was set to appear before the Senate Banking Committee Thursday for confirmation in the post for a second term. His confirmation will not be smooth but inevitable. Ben Bernanke has oftened been accused for not doing enough to prevent the financial crisis and lawmakers demanding a cut in Fed's regulatory role.
Ben Bernanke's Senate appearance comes barely 24 hours after the embattled Bank of America (BoA) announcing it was ready to repay the $45 billion bailout money it took from the government. The BoA's bid to repay the loan underscores banking industry's swift recovery from the gravest financial crisis since the '30s Depression.
NEW YORK, Dec 03: Ben Bernanke, the US Federal Reserve Chairman who was a Bush nominee and is a key person in the world finance, was set to appear before the Senate Banking Committee Thursday for confirmation in the post for a second term. His confirmation will not be smooth but inevitable. Ben Bernanke has oftened been accused for not doing enough to prevent the financial crisis and lawmakers demanding a cut in Fed's regulatory role.
Ben Bernanke's Senate appearance comes barely 24 hours after the embattled Bank of America (BoA) announcing it was ready to repay the $45 billion bailout money it took from the government. The BoA's bid to repay the loan underscores banking industry's swift recovery from the gravest financial crisis since the '30s Depression.