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A bald man with a gray beard and tired eyes is sitting in his oversize Washington office, talking about the economy. He doesn't have a commanding presence. He isn't a mesmerizing speaker. He has none of the look-at-me swagger or listen-to-me charisma so common among men with oversize Washington offices. His arguments aren't partisan or ideological; they're methodical, grounded in data and the latest academic literature. When he doesn't know something, he doesn't bluster or bluff. He's professorial, which makes sense, because he spent most of his career as a professor.
Professor Bernanke of Princeton was a leading scholar of the Great Depression. He knew how the passive Fed of the 1930s helped create the calamity — through its stubborn refusal to expand the money supply and its tragic lack of imagination and experimentation. Chairman Bernanke of Washington was determined not to be the Fed chairman who presided over Depression 2.0. So when turbulence in U.S. housing markets metastasized into the worst global financial crisis in more than 75 years, he conjured up trillions of new dollars and blasted them into the economy; engineered massive public rescues of failing private companies; ratcheted down interest rates to zero; lent to mutual funds, hedge funds, foreign banks, investment banks, manufacturers, insurers and other borrowers who had never dreamed of receiving Fed cash; jump-started stalled credit markets in everything from car loans to corporate paper; revolutionized housing finance with a breathtaking shopping spree for mortgage bonds; blew up the Fed's balance sheet to three times its previous size; and generally transformed the staid arena of central banking into a stage for desperate improvisation. He didn't just reshape U.S. monetary policy; he led an effort to save the world economy.
Ben Bernanke - Person of the Year 2009 - TIME
Could not have picked a better person in 2009. The man's actions saved the financial system from utter collapse.
And after reports yesterday that inflation is rearing its ugly head. Great job Ben! We're still in a recession yet you get praised.
And after reports yesterday that inflation is rearing its ugly head. Great job Ben! We're still in a recession yet you get praised.
sign of the times....maybe they were just trying to emulate the Nobel committee.
j-mac
HAHAHAHA, yeah sure. That's like giving the Nobel Peace Prize to a sitting President conducting massive war operations and occupational tactics.
Stalin and Hitler were Men of The Year. It has nothing to do with accomplishing anything good.
He didn't just reshape U.S. monetary policy; he led an effort to save the world economy.
Can you dispute this?
What is your issue with the chairman?
Can you dispute this?
**** the Federal Reserve and it's chair.
Dont forget about his helicopter.
He gets a helicopter? I'm willing to give him transportation to get here and there. But we'll use a catapult. Maybe a parachute....maybe.
Can you prove it? The economy is piss poor condition and isn't getting any better.
He gets a helicopter? I'm willing to give him transportation to get here and there. But we'll use a catapult. Maybe a parachute....maybe.
No, he doesnt. I thought you've heard of the name Helicopter Ben.
I was not asking you to reference an article; anyone can do that.
Then what exactly did you want from me?
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