White House stands firm on Bernanke

[Cali_Democrat]

http://www.google.com/hostednews/afp/article/ALeqM5jCAV5hbD3EBANeIdgG0PT0uYsdCA

(AFP) – 1 hour ago

WASHINGTON — The White House stood firm on the renomination of Ben Bernanke Monday, saying a second term for the Federal Reserve chief was vital to demonstrating stability in the US financial system.

"Chairman Bernanke helped the president and the economic team steer through some very turbulent times and rough waters," White House spokesman Robert Gibbs said.

"I believe that it sends a signal to greater and overall stability to have his nomination approved without political games. And that's what we expect will happen later this week."

Bernanke's nomination, which is yet to be put to a Senate vote, appeared in deep trouble on Friday, after several Democratic senators withdrew support for his nomination amid public fury over his role in the financial crisis.

But the White House launched an emergency bid to shore up the nomination and Senate Majority leader Harry Reid and other influential senators threw their support behind Bernanke.

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