Facing a Senate confirmation vote on a second four-year term as chairman of the Federal Reserve, Ben S. Bernanke finds himself under attack from both ends of the political spectrum. Libertarian Rep. Ron Paul (R-Tex.), abetted by a number of liberal Democrats, has made Mr. Bernanke's alleged failures a principal argument for his bill to subject the Fed to intrusive congressional auditing. Sen. Bernard Sanders (I-Vt.), a self-described democratic socialist, has announced that he will put a "hold" on Mr. Bernanke's renomination, forcing the Senate to come up with 60 votes to proceed to a vote. The wrong-headedness of this left-right pincer emphasizes the moderate wisdom of President Obama's decision to offer Mr. Bernanke another term.
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