Senator Bunning on the Bernanke reappointment (3/14)

Senator Jim Bunning (R-KY) offered the following prepared comments during the December 3 reappointment hearing of Fed Chairman Ben Bernanke. This is part three in a fourteen part series:

On consumer protection, the Greenspan policy was don’t do it. You went along with his policy before you were Chairman, and continued it after you were promoted. The most glaring example is it took you two years to finally regulate subprime mortgages after Chairman Greenspan did nothing for 12 years. Even then, you only acted after pressure from Congress and after it was clear subprime mortgages were at the heart of the economic meltdown. On other consumer protection issues you only acted as the time approached for your re-nomination to be Fed Chairman.

Tim White