Bernie Sanders Set To Block Bernanke Confirmation

Bernie Sanders is actually someone in Washington that I respect greatly. Ideologues try to marginalize Sanders as someone out of the mainstream but the reality is Sanders has a true compassion and desire to serve the people of this country. I know because Sanders was a lone voice of support more than ten years ago when a situation I was involved in came to Washington. You can disagree with Sanders on approach but in my book, Bernie is the real deal.

Now Sanders again takes a stand for the common good. Clean up the Federal Reserve with his sponsorship of the Federal Reserve audit legislation and now his attempt to stop the Bernanke confirmation. Bernanke's actions over the past nine months have pointed to someone committed to a failed system. And a terribly fraudulent system. It is perfectly plausible that Bernanke should step aside. He has done nothing to further discussions on meaningful reform nor has he made any public pronouncements that would stimulate discussions on new economic transformation or assisting those devastated by Wall Street's lecherous and often crooked activity. The Congress looks to Bernanke for financial leadership and, for that, he has been a complete failure. Bernanke did save the system from complete collapse but since then he has only supported perpetuation of abhorrent policy. Abhorrent policy which caused the collapse in the first place. That said, Bernanke's future powers are likely to be severely thwarted and that means his post could become comparatively much less relevant to the future of the U.S. economy. I am more concerned about what role Congress will play in the future of monetary policy and re-regulation. Efforts which should box the Federal Reserve's reckless behavior and authority on some level.

I would encourage anyone and everyone to remain actively involved in this process by letting your voice be heard with your Congressional representatives. Your voice and vote are the only difference makers.

If you have a chance to watch, the Bernanke confirmation hearings today are likely to be televised on C-SPAN or one of the financial channels.