Lots of job interviews going on in the country today. And unless it’s for you, the most important one happening today is in
Bernanke has been a lightening rod for a lot of anger that Wall Street got bailed out and
He claims that “Bernanke has failed at every task assigned to the FED.”
Let me tell you why, in Mr. Sanders case, “I” stands for ignorant not independent.
(1) The FED had little choice last year but to pump enormous amounts of capital into the financial markets…which helped to avert an even greater global crisis than occurred.
(2) The FED did not cause this crisis. Wall Street and Congressional policies did. The FED was forced into the task of sweeping up the effects of greed and incompetence. And it did a good job. Maybe not the best, but Bernanke helped to pull the economy out of the deepest ditch since the Great Depression.
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