Tuesday, August 25, 2009

Bernanke Re-Upped
Ben Bernanke is nominated for a second term as Fed Chairman. I think this is an excellent decision. You can say he was late to recognize the housing bubble and slow to respond to the financial crisis. But it would be hard to say that once he realized the depth and seriousness of the crisis, he did not act in an excellent manner. (There are other people that need credit, too, including former and current Treasury Secretaries Paulson and Geithner.) Bernanke's roll in solving the crisis will figure prominently when the history is finally written. His calm, financial acumen, historical perspective and respect in economic, financial and political circles helped stave off worst case scenarios.

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