Ben Bernanke - Villain or Hero?

[Beet]

Fascinating piece in this month's Atlantic
Link

[Southern Senator North Carolina Yankee]

Ah, the wonders of Populism. What manner of destruction shall humanity befall in the future as result of its inherent desire to chop of its own nose to spite its face? That is after all the definition of such politics, disserving America proudly since 1792.

It most certainly would be scary if the Fed had to be rechartered now, ala the Second National Bank in the 1830's. One would hope the politicians could be somehow motivated to do the right thing this time, if such were the case.

[Swing low, sweet chariot. Comin' for to carry me home.]

I think Ben has done a wonderful job and we are lucky he was the Fed Chairman through this crisis...he understands it worth gambling to save the economy from another Great Depression

[Grumpier Than Thou]

[Oakvale]

I read this when it came out and remember being surprised there was no thread on it. A persuasive look at an absurdly villified person.

[Atlas Has Shrugged]

HP

[Pingvin]

HP

[CARLHAYDEN]

I think Ben has done a wonderful job and we are lucky he was the Fed Chairman through this crisis...he understands it worth gambling to save the economy from another Great Depression

Yeah, loan guarantees to his buddies.

Loans to foreign banks.

He wants to pick winners and losers, and opposes let the marketplace make such decisions.

Without a doubt the most arrogant and irresponsible chairman in the history of the Federal Reserve.

The very essence of a villain.

[Snowstalker Mk. II]

HP

[opebo]

Yeah, loan guarantees to his buddies.

Loans to foreign banks.

He wants to pick winners and losers, and opposes let the marketplace make such decisions.

Without a doubt the most arrogant and irresponsible chairman in the history of the Federal Reserve.

The very essence of a villain.

No, the 'marketplace' is the villain, carl.

[Vosem]

Yeah, loan guarantees to his buddies.

Loans to foreign banks.

He wants to pick winners and losers, and opposes let the marketplace make such decisions.

Without a doubt the most arrogant and irresponsible chairman in the history of the Federal Reserve.

The very essence of a villain.

No, the 'marketplace' is the villain, carl.

The marketplace system is the very reason America is so prosperous. A good guy in every sense of the word.

[I'm JewCon in name only.]

Not a fan of Bernanke.


Mainly because I don't believe he is a supporter of the free markets, as some here (for whatever reason) think he is...

[Southern Senator North Carolina Yankee]

Not a fan of Bernanke.


Mainly because I don't believe he is a supporter of the free markets, as some here (for whatever reason) think he is...

The short answer is that "the banking sector is special". You can't just restart the banking sector overnight and it would take years to rebuild the money supply (the portion that results from fractional reserve banking) if it were wiped out by a severe banking contraction akin to the 1930's (When the Fed pretended as if it didn't exist) or the 1830's (the last time the US thought it could go without a central banking system). The Fed's job is to acheive stability in the money supply, it is by nature a violation of the free market, and frankly one I am perfectly fine with considering the alternative. 

[I'm JewCon in name only.]

My main issue isn't really ideological he just looks like a real slimeball...

[Southern Senator North Carolina Yankee]

I don't really give a damn about what he looks like. In this instance what matters is skill, knowledge, and effectiveness. He isn't a politician thank god and thus he is immune from having to concern himself with such political matters as optics.

That said, I wouldn't mind some better oversight over the Feds actions.

[All Along The Watchtower]

Yeah, loan guarantees to his buddies.

Loans to foreign banks.

He wants to pick winners and losers, and opposes let the marketplace make such decisions.

Without a doubt the most arrogant and irresponsible chairman in the history of the Federal Reserve.

The very essence of a villain.

No, the 'marketplace' is the villain, carl.

The marketplace system is the very reason America is so prosperous. A good guy in every sense of the word.

Yet curious how so much of that prosperity is concentrated in the coffers of a few.

[FEMA Camp Administrator]

He is our dark knight, our silent protector...

[CARLHAYDEN]

Yeah, loan guarantees to his buddies.

Loans to foreign banks.

He wants to pick winners and losers, and opposes let the marketplace make such decisions.

Without a doubt the most arrogant and irresponsible chairman in the history of the Federal Reserve.

The very essence of a villain.

No, the 'marketplace' is the villain, carl.

The marketplace system is the very reason America is so prosperous. A good guy in every sense of the word.

You are VERY contradictory.

You SAY you are in favor of he marketplace system, but Bernanke favor crony capitalism, i.e. where the Federal Reserve picks winners and losers, rather than the marketplace!