Washington, D.C. - Today, U.S. Senator Michael Bennet released the following statement on the Senate's confirmation of Federal Reserve Chairman Ben Bernanke for a second term:
"I voted to pass Chairman Bernanke's nomination out of committee with the understanding that he, and indeed our entire government, must get serious about holding Wall Street accountable, and do more to get credit flowing to our nation's small businesses. I pushed Bernanke to do more on these matters then, and I have continued to push since he was approved by our Committee. Since that time, the decision about whether to support his nomination again has weighed heavily on my mind. While Chairman Bernanke limited the damage of the Wall Street crisis once it was underway, he did not show sufficient foresight to prevent the crisis and should have done more to protect consumers caught up in the downward spiral.
"While major mistakes were made under his watch that had a traumatic affect on local communities, he also prevented what could have been another Great Depression, which could have been much worse for families throughout this country. I believe he has learned from his mistakes.
"Finally, I have little confidence that the Senate would or could move quickly enough if Chairman Bernanke were not confirmed today. The reckless partisanship and maneuvering would likely result in a long-term delay in confirming another nominee. This type of delay would have serious consequences for our economy.
"I will continue to push for comprehensive financial reform to ensure that our regulators won't fail the American people again."