Friday, January 22, 2010

Bernanke Deserves Our Thanks and Another Term

Ben Bernanke at the Fed has done a superb job for which he has not been given adequate recognition, and that is a great injustice and it may be conseuquently mean a great loss for the country if he is not reconfirmed for another term.

His predecessor, the arrogant Greenspan, is still being praised despite his public apology for all his errors, noting that he was not paying enough attention. Yes, indeed. Even Greenspan himself now realizes that he did not do such a wonderful job.

Bernanke, on the other hand, performing as well as could be possible for the situation he faced in his tenure is now being castigated for events over which he did not preside and for the disastrous results for which he did not set things in motion.

Give him credit, however, for the fact that he has been a positive force in office. It is not known whether we would have done as well with someone else. Let's show our appreciation for his hard work. Better yet, let him continue. He is very much needed.

What clever politics to attempt to use such a convenient public figure as the vessel in which we dump all our anger and frustration over the incomplete recovery of the economy one year into the new administration. How ingenuous to dismantle someone with superior qualifications from the fine work he’s been doing in getting the economy heading in the right direction.

It is truly distressing to see someone of Bernanke’s ilk treated so shabbily. He’s not had an easy time of it, but he’s shown himself to be an impressive figure, certainly someone we need at the Fed. Give him confirmation to continue his thoughtful good work. We need Bernanke during these difficult times.

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