Wednesday, December 16, 2009

TIME Encourages us to 'Thank' Ben Bernanke

Photo courtesy of here.

I understand that TIME picks their "Person of the Year" partly based on who has had the most impact, but look at this subheading from TIME's accompanying article (emphasis mine):

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

Thank him? David Sirota sums up my feelings nicely:

Ben Bernanke fell down on the regulatory job in the lead up to the Wall Street meltdown. He acknowledged this in front of Congress. He then tried to clean up his mess by handing his banker friends trillions of our taxpayer dollars. The result of his regulatory failures and then massive bailouts has been a destructive recession, 10 percent unemployment and debt as far as the eye can see.

Sorry, but Bernanke won't be getting a Christmas card from me this year.

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