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Obama Wants More Bernanke

August 25, 2009 RSS Feed Print

President Obama has announced today that he will nominate Ben Bernanke for a second term. That news surely has disappointed critics of both Bernanke and Alan Greenspan—critics who want a Fed chairman more skeptical of free markets. But, in terms of avoiding a future financial crisis, how much would taking the Fed in a different direction even matter? Read my previous thoughts here.

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has flooded the country with money, and he has done it in part by seeing to it that your deposits in banks will earn little to nothing for a long time.
Does that make him a good chairman for the present circumstances? I don't know. We do know that Hoover didn't do very well in 1929-1932 and we do know that Bernanke is a very serious student of all that.

Muser of NM 11:29AM August 25, 2009

Obama Wants More Bernanke

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