Bernanke Confirmed by Senate
for Second Term at Fed (Update3)
By Scott Lanman and Joshua Zumbrun
Jan. 28 (Bloomberg) -- Ben S. Bernanke won Senate approval for a second term as Federal Reserve chairman, as supporters who credited his actions to stem the financial crisis and recession overcame opponents saying he failed to prevent them.
The Senate voted 70 to 30 to confirm the 56-year-old former Princeton University professor, the most opposition since the chamber started confirming Fed chiefs in 1978.
“Nobody was more important in preventing the collapse of the financial system and rescuing the economy from what looked like imminent freefall than Chairman Bernanke,” said Senator Charles Schumer, a Democrat from New York.