Strange coalition targets Ben Bernanke – – POLITICO.com

Very interesting development here.

“There’s a strange political cocktail brewing in Washington, one that mixes top conservative strategist Grover Norquist and tea party organizers at FreedomWorks with democratic socialist Sen. Bernie Sanders I-Vt., progressive activists and public interest advocates.The unlikely coalition’s bid to block Ben Bernanke’s nomination to a second term as chairman of the Federal Reserve until Congress votes on legislation to audit the secretive central bank is tapping into a growing anti-establishment mood — and legislators up for reelection next year are taking notice.The Fed fighters’ charge that the White House favored Wall Street over the public interest during the financial crisis appeals to a lot of people these days. Average voters resent the government’s response to the market meltdown — the $700 billion Troubled Asset Relief Program, the auto industry bailout and the trillions doled out by the Federal Reserve — because it hasn’t seemed to help them out, as the national debt has soared and the unemployment rate has moved north of 10 percent. It’s a populist anger that goes far beyond traditional definitions to include, as one analyst noted, people living in gated communities in Florida.“They look at Wall Street, and they say, ‘Who’s been held accountable? Anybody going to jail? No? These guys are actually getting huge bonuses,’” said Sanders, whose campaign to block Bernanke has been embraced by progressive and conservative groups alike.“Bernanke represents the status quo. People want a change in the way Wall Street functions; they want a change in the way the Fed functions,” Sanders said.”

<p>via <a href=”http://www.politico.com/news/stories/1209/30278.html&#8221; mce_href=”http://www.politico.com/news/stories/1209/30278.html”>Strange coalition targets Ben Bernanke – – POLITICO.com</a>.</p>

via Strange coalition targets Ben Bernanke – – POLITICO.com.

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