Posted on 05/19/2009 5:39:54 PM PDT by TigerLikesRooster
Obama Should Reappoint Bernanke
Brian S. Wesbury and Robert Stein, 05.19.09, 12:00 AM EDT
The present Fed chairman is a much better choice than Larry Summers.
Treasury Secretary Timothy Geithner recently said in an interview that the No. 1 policy mistake that helped cause our economic and financial turmoil was that "monetary policy around the world was too loose, too long."
Some people may think this was Geithner's way of throwing Federal Reserve Chairman Ben Bernanke under the bus. After all, although former Fed Chair Alan Greenspan has been getting the lion's share of the blame for overly loose money earlier this decade, Bernanke was on the Fed Board from 2002 to 2005. Back then, it was Bernanke who argued that a sustained drop in short-term interest rates could bring down long-term rates. During that period, he even earned the nickname "Helicopter Ben" for suggesting (correctly) that the Fed could fight deflation by dropping money from a helicopter.
(Excerpt) Read more at forbes.com ...
Why not just appoint Turbo Tax Timmy? After all, he is the only person who can save us from the financial morass. /projectile vomiting sarc/
get larry summers, it be an obama appointment and they wont be able to pass the buck
I say they should appoint John Gotti. He’s already got the wardrobe. We’d save a ton on the incarceration costs, and the pretense of having someone who has anything other than his and his own clan’s interest would instantly vanish.
It really doesn’t make a whole lot of difference. Either way the Fed will have to choose between high interest rates and high inflation, thanks to the Obama deficits.
good gravy!
I choose the third option- END THE FED.
Having a dead man as Fed chairman might not be a bad idea.
We’d save a ton on the incarceration costs,
Well, we would have to spend some money on exhuming his body.
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