Sanders Says No to a Second Term for Federal Reserve Chief

Sen. Bernie Sanders sounded a resounding "no" to a second term for Federal Reserve Chairman Ben Bernanke, saying Sunday he will vote against Ben Bernanke's reappointment.

Bernanke is expected to go before the Senate Banking, Housing and Urban Affairs Committee on Thursday for what is likely to be tough questioning on his monetary policy during the bank collapse of 2008-2009.

Bernanke, who was first nominated President George W. Bush, is "part of the problem" facing the U.S. economy, the independent Vermont senator said. Sanders is not a member of the banking panel

"No, I absolutely will not vote for Mr. Bernanke. He is part of the problem. He's the smartest guy in the world, why didn't he do anything to prevent us from sinking into this disaster that Wall Street caused and which he was a part of?" Sanders asked on ABC's "This Week."

Over the weekend, Bernanke penned an editorial in The Washington Post offering a full-throated defense of the Fed, which is facing House legislation for an audit, the first of its kind, as well as other legislation aimed to limit the central bank's influence.

"The Fed played a major part in arresting the crisis, and we should be seeking to preserve, not degrade, the institution's ability to foster financial stability and to promote economic recovery without inflation," Bernanke wrote.

Click here to read the Bernanke editorial in The Washington Post.