Posted on 12/16/2009 4:27:16 AM PST by The Magical Mischief Tour
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(Excerpt) Read more at foxnews.com ...
I’ll say that I largely agree with you. Given what happened in September/October 2008, the Fed pumping lots of temporary liquidiy into the economy was the right choice at the time, and probably saved a great deal of pain.
I think Paulsons role was villainous and the primary impact TARP was to save the jobs and fortunes of Paulson’s friends instead of propping up the general economy, but the Fed did what had to be done in the short term.
The Feds role in allowing the housing/credit bubbles in the years leading up to the crises is more questionable, but even in that respect there are bigger villains.
Even more reason to audit him and the rest of the Fed.
Who the H#$@ cares what TIME thinks?
The irrelevant magazine of the year award goes to...
2009, the year of “epic fail”
Well, it took this long for a Bush appointee to get any MSM recognition, but not until Obama had reappointed him. Now he is a success, but only after the Obama reappointment. Before that, he was garbage, /MSM
After Congress, the banks, the mortgage industry and the Fed brought us to the brink of financial meltdown, Ben Bernanke has managed to save us from civil chaos to fend off looming insolvency.
Lowering our economic productivity and standard of living is, no doubt, part of their problem/crisis/solution scenario along with the rising economic tide rushing towards the undeveloped world.
Copenhagen is the lynch pin in their economic harmonization agenda.
They couldn’t really give it to Hussein twice in a row, so they had to give it to somebody high up. Considering our fiscal situation, this is like giving CEO of the Year to a guy who ran his company into bankruptcy.
We live in a really weird time.
What next? Malik Nidal Hassan for a purple heart?
2009 was a very bad year.
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Wonder if he’ll hang this on his mantle, or if this is hanging around his neck?
But they did not mean it as a compliment to Adolf Hitler. It was more as a measure of his influence.
But in this case Time writes:
"The story of the year was a weak economy that could have been much, much weaker. Thank the man who runs the Federal Reserve, our mild-mannered economic overlord." -Time
Faux crisis.
Faux hero.
Faux news source.
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Cool summary - not sure about ‘faux crisis’ - it may have been an unnecessary crisis - that’s for sure - manufactured out of RAT compliance and socialist overlay on the free market for real estsate, greed (WAMU in my neck of the woods comes to mind), and obstruction of the Bush admin plans to reign in Fannie and Freddie (see 1st point.)
overlord
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What in the world? These people are just idiots...he’s not my overlord! Furthermore, we’re not talking about some fantasy game here..
Well, Time might have a point if you strictly only look at 2009. Ben saved short-term pain during 2009 and kicked the can to 2010. It’s easy to win person of the year if you are allowed to borrow from our doomed future to save today. 2009 loves Ben Bernanke, but the immediate years after 2009 hate his pompous guts.
That was “Life” I think. I can’t remember “Time”.
Good point.
Why?
or better yet
Why care?
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