Bernanke Confirmed by the Senate
January 29, 2010 | federal legislation | Comments (0)But not by Al Franken. He says he opposed the nomination because he didn’t get the assurances he wanted about consumer protection. As Franken told the Huffington Post:
A strong Consumer Financial Protection Agency and other consumer protections are essential to securing our economy for Main Street and the middle class. I needed to know that a robust CFPA would be a part of financial regulatory reform in order to support Chairman Bernanke’s confirmation to a second term. As governor of the Federal Reserve and then Chairman of the Federal Reserve, Bernanke did almost nothing to protect consumers and when he did, it was too late. I needed the assurance that would improve. And I didn’t get that.
Limiting consumers’ choices doesn’t seem like a very good way to protect them.
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