Too bad the dissident democrat was unable to convince more of his colleagues in the validity of his vision. The Oregon Democrat summarizies the contra case most succinctly:
“Dr. Bernanke is a dedicated and honorable public servant…however those factors in my mind do not outweigh my concerns on regulation and rebuilding the economy… Dr. Bernanke’s approach helped set our economic house on fire. That fire has destroyed the jobs, the healthcare, the retirement savings, of millions of American working families. Since then Dr. Bernanke has shown himself to be quite adroit with the fire hose, helping to put that fire out. But as we look to the future, and we look beyond the stage of putting the fire out, I think we need to look to leadership that will be adept at rebuilding our economic house.”
We hope that the Senatoral vote will see more party line breaks, in which case we urge other democrats to follow in Sen. Merkley’s footsteps. This is further reinforced by prevailing popular opinion among the American people, of whom only 21% favor the Chairman’s reappointment.