Senate Majority Leader Harry Reid wants Massachusetts Sen.-elect Elizabeth Warren to join the Banking Committee. A Senate Democratic official confirmed Tuesday that Warren's appointment was likely, but cautioned nothing was final until the Democratic caucus approves the move.
Democrat Chris Dodd, the Connecticut senator who wants to weaken the Fed and name a top financial cop, won't run for reelection in 2010. His popularity has faded with the onset of the financial crisis and voters' perception that Dodd was under the sway of Wall Street.
Love him or hate him, Ben Bernanke, also known as Time magazine's Man of the Year, is likely headed for a second term as chairman of the Federal Reserve after the Senate Banking Committee gave him the thumbs up by a vote of 16 - 7 on Thursday.
