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The world’s most powerful banker is humbled

Kabir Chibber
BBC News [1]
Thursday, December 3, 2009

Ben Bernanke’s confirmation hearings before the US Senate’s banking committee will probably be unlike any seen in recent memory.

The Federal Reserve chairman was reappointed to a second term by President Barack Obama in August, after a tumultuous four years as head of the world’s most important central bank.

But, this time, the confirmation process – normally a formality for Mr Bernanke’s feted predecessors, such as Alan Greenspan – is tinged with anxiety.

(ARTICLE CONTINUES BELOW)

[2]

One senator has vowed to block his confirmation, while the chairman has come under attack from politicians on both sides of the aisle. The criticism has been virulent.

What has gone wrong for the world’s most powerful banker?

‘Profound disgust’

Mr Bernanke was appointed by former President George W Bush in 2006, tasked with following the 18-year reign of Mr Greenspan, whom Gordon Brown that year introduced in London as “the man acknowledged to be the world’s greatest economic leader of our generation”.

Full story here. [1]