Sanders Statement on Bernanke Nomination

BURLINGTON, Vt. – Aug. 25 – Sen. Bernie Sanders (I-Vt.) today issued the following statement on the nomination of Ben S. Bernanke for another term as chairman of the Federal Reserve.

"As a result of the greed, irresponsibility and illegal behavior of Wall Street our country has experienced the worst economic decline since the Great Depression.  Mr. Bernanke was head of the Fed and the nation's chief economist as this crisis, driven by reckless speculation, developed.  Tragically, like the rest of the Bush administration, he was asleep at the wheel during this period and did nothing to move our financial system on to safer grounds.

“As the middle class of this country continues to shrink, we need a chairman of the Federal Reserve who is more concerned about expanding the productive economy – increasing decent-paying jobs for all Americans – than continuing to fan the flames of Wall Street greed and outrageous compensation packages.”