Did Bernanke save the world?
President Obama has re-nominated Ben Bernanke to sit as Chairman of the Federal Reserve for another four-year term. Most of the media has praised Bernanke for his handling of the current economic crisis, Obama himself suggests that Bernanke helped save the US from another Great Depression. Economist Robert Pollin points out that Bernanke, as the top bank regulator in the country, played a central role in the creation of the crisis. But more importantly, according to Pollin, is that we review the Fed as a whole, and not just the individual who heads it up.
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