Ben Bernanke's reconfirmation as chair of the Federal Reserve is in disarray. With President Obama having launched, on Thursday morning, a major new initiative to rein in the power of -- and danger posed by -- our leading banks, key Senators rightly begin to wonder: Where does Ben Bernanke stand on the central issue of the day?
There are three specific questions that Bernanke must answer, in some convincing detail, if he is to shore up his weakening cause in the Senate.
As running hard against the "too big to fail" banks is now a major theme of 2010 and beyond for the Democrats, how can any Democratic Senators feel comfortable voting for Ben Bernanke unless they know exactly what his position is on all of these points?
And given what we know about Bernanke's record and positions relative to these questions, absent new information it is not a surprise to see his support dwindling.