McCain To Oppose Bernanke Reconfirmation

UPDATE -- January 25, 1:30 PM ET: Sen. John McCain has made his opposition to Ben Bernanke's reconfirmation official. Here's the statement from his office:

"Our country is still facing an economic crisis and while I appreciate the service that Chairman Bernanke has performed as Federal Reserve Chairman, I believe that he must be held accountable for many of the decisions that contributed to our financial meltdown.

"Therefore, I plan to oppose Chairman Ben Bernanke's confirmation for a new term as Federal Reserve Chairman."

* * * *

Sen. John McCain (R. Ariz) appeared on CBS's "Face the Nation" on Sunday and told host Bob Schieffer that he is "leaning against" voting to confirm Ben Bernanke as Fed Chair.

"I'm very skeptical about his nomination," McCain said. I'm worried that if his nomination is turned down, the effect that it might have. But the fact is that Chairman Bernanke was in charge when we hit the iceberg. And his policies were partially responsible for the meltdown that we experienced. I think that he should be held accountable. "

When asked if he thought Bernanke should withdraw his nomination, McCain answered that he should not. Schieffer press further: "Are you going to vote against him, or are you just concerned about him? "I'm both concerned and leaning against" McCain answered.

WATCH (the discussion of Bernanke starts at the 3:25 mark):