To Fed: No Audit, No ConfirmationSubmitted by visible51 on Fri, 01/01/2010 - 14:55
Sen. Jim DeMint (R- S.C.) claimed he will keep the reappointment of Ben Bernanke as Federal Reserve Board chairman on hold until there is a Senate vote to audit the Federal Reserve, referring to S.604, which is the companion legislation to the House’s original “Audit the Fed” bill, HR 1207.
DeMint is an influential member of the Senate Committee on Banking, Housing and Urban Affairs—the body that put Bernanke on the hot seat during his recent nomination hearings. That committee, whose jurisdiction includes the Fed’s operations, approved Bernanke’s second four-year term on the board by a 16-7 vote in an executive session Dec. 17. The day before, Time magazine, a banker-friendly pillar of the establishment media named Bernanke “Person of the Year.”
And while the usual suspects in the corporate media expect Bernanke to get the approval of the full Senate for serving another term, DeMint sees things differently. So does Sen. Bernie Sanders (I-Ver.).
DeMint recalled that he tried to get a vote on S. 604 as far back as July 6. In a press release, also explained that S. 604, “would remove restrictions on auditing the Fed’s discount-window operations, funding facilities, open market operations and agreements with foreign central banks and governments. The vote was blocked but I pledged to keep fighting to force the Senate to vote.”