Blumenthal told WNPR's Where We Live that he’s asking senators to vote against Bernanke “somewhat regretfully” because of what he calls the chairman's “economic expertise."
“I give him credit for many good decisions, but I think that his current tack needs to be changed. And that we need to send a message to our nation that we’re done with the kind of laxity toward Wall Street that has been tolerated for much too long.”
“I have immense respect for Chairman Bernanke, but my my feeling is that we need some new leadership at the federal reserve."
Blumenthal also said that his action isn't about blaming anyone for the financial implosion, but is instead a step forward in regulating the financial services industry, reigning in credit card abuses, and cracking down on big bonuses given out by the banks.
He added: “We need someone in the federal reserve who shares the kind of outrage that I think American people feel about the way things are going in this country.”
For WNPR, I'm John Dankosky.