Ben Bernanke - Villain or Hero?

[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.

[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. 

[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.