The independent socialist senator from Vermont, Bernie Sanders, is opposing the confirmation of Ben Bernanke as chairman of the Federal Reserve, for reasons he explained in an op-ed in USA Today, in a letter to his Democratic colleagues, and in the video embedded above. He also explained it in an "Bernie Buzz" official e-mail to his constituents that was forwarded here by a FutureOfCapitalism.com reader. "Democrats and President Obama are putting their credibility on the line if they think they can criticize Wall Street and big banks one day and then turn around and support Bernanke, Wall Street's candidate, the next day," Mr. Sanders said. "The issue is whether we let Republicans pretend to be the populist, anti-Wall Street party, or whether Democrats have the courage to stand up to Wall Street and bring in a Fed chairman who will represent the needs of working families rather than huge financial institutions." It's a pretty naked look at the issue as a matter of the partisan advantage of the Democratic Party. Strange to see in an official government email, and stranger still coming from a self-described independent.
Senator Sanders on Bernanke