Bernanke Confirmation Advances In Crucial Vote

WASHINGTON (AP) - Ben Bernanke has cleared a crucial hurdle in the Senate that assures his confirmation to a second term as chairman of the Federal Reserve. The Senate voted Thursday to overcome a filibuster that would have doomed his nomination. The Senate will now move to a final confirmation vote.

Bernanke came under withering bipartisan criticism from lawmakers who blame him for not spotting the simmering financial crisis and for massive Wall Street bailouts. Bernanke became a lightning rod for critics of 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

(Copyright 2010 by The Associated Press. All Rights Reserved.)


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