The TEAM 2007

TEAM 2007 keeps its leader. I wonder who is satisfied with 01/2007-10/2008 job. What does the President know that we don’t?

2000+ Market crises, 2007+, Financial crisis and 20XX Economic… ? But for the time being surf the deficit.

Well, Bernanke was in charge when the crisis was being 'funded' and allowed to spiral out towards this climate of uncertainity.

Bringing in another 'third party' at this occasion would delay the healing process and perhaps may not even provide a way out of this mess.

Bernanke is close to these issues like a newborn to mum and as such it'd be best to retain his experience and knowledge around the Fed business.

Besides those who blame him on this crisis should have no issues him fixing it either.

This is incredible. According to a CNN poll, 73% of the people approve of the job this guy is doing. The government is predicting a 9 trillion (ah what the hell-let's call it a 10 trillion dollar deficit) over the next decade (heh, heh). We've never seen anything like this before and the unemployment numbers are all manipulated. Don't believe a word these people say.

The U.S. government is creating dystopia. In other words, they are intent on making the lives of the populace so miserable that I can't believe there won't be a second American Revolution in the United States. It's as if the government is playing with monopoly money and they are acting like greedy little bullies and having a big laugh looting the treasury. An analogy can be drawn with modern times to the fall of the Roman Empire.

Obviously Bernanke was not the author of the asset bubble. That falls squarely on Greenspan, but Bernanke was part of the Federal Reserve System that ignored all the warning signs over the years and he continued those policies to the bitter end with disastrous consequences to the US economy and the world. The question is if the old model of growth and development is a dead model we have not heard Bernanke articulate what it is that will be new. The problems continue and there are, despite the "green shoots" of supposed recovery, serious policy issues have been left unanswered and generalities that he will ensure that inflation from all the money poured into the economy will not rear its ugly head sounds more like a vain hope. What is clear is that the Fed really cannot control the direction of the economy through interest rate manipulation and that the longer term effects of the use of such a policy create more problems than it is worth and the actions taken by the Fed have gone well beyond the boundaries of Fed traditions if not prudence what with the unprecedented creation of money to "save" some institutions at the expense of the public. Economic growth and monetary growth have to be harmonized, meaning the latter must not be allowed to grow at a rate that exceeds the real growth of the economy; derivatives cannot be allowed to grow without a sound foundation and insurance rules revised so that the issuance of credit default swaps are treated like an insurance policy and subjected to prudential rules; more serious controls must be put on financial institutions like banks who violated Basle rules on leverage with impunity through the creation of special purpose companies. The trouble, of course, is that there seems to be no one else on the horizon with fresh perspectives or a new economic model for sound economic growth. Too many "Greenspanites" exist in too many Central Banks who are unwilling to make politically unpopular decisions to keep the economies of the world in sound shape. If he is confirmed let us all hope that there has been some kind of economic paradigm shift in the Fed or the next several years are going to be very problematical as the contrarians who predicted the burst of the housing bubble predict today.

@ Ray Orosa: Very insightful comment!

Perfect! The guy that didn't see it coming and then grossly under-estimated the effect is just the right man to steer us out. It looks like the transfer of money from poor to super-rich continues! Three chairs for Ben (Harvard, Princeton and Yale probably).

What in God's name will it take for Obama to see that this man is a fool. This is a disgrace and a disaster.

Here's Hoover in 1930...
http://geocities.com/mb_williams/hooverpapers/1930/paper19300501a.html

Congratulation, from wedgefield, south carolina. a yellow dog dem.

What a load of ... bull poo! Ben will see the end of the American financial system and economy.

Ben appointment is a very significant and politically savvy decision under these economic conditions. As we navigate through turbulent times, US economy needs someone who has integrity, solid reputation, strategic thinker, ability to steer the economy out of recession, insight about various issues confronting an economy and above all well respected globally in the financial markets.
I was fortunate enough to study with Ben's classmate at MIT, Prof John Huizinga at Uni. of Chicago from where I graduated this year. He spoke very highly about Ben Bernanke ability to analyze things from different perspective and to make strong judgment call under arduous financial conditions we are in....

I fully support this decision. I would call this decision Bold and very strategic in nature that will send signal to the market. He has the ability to take the economy on the right track going forward....

Shan Saeed
Uni of Chicago, Booth School of Business
MBA 2009 Graduated
With Honor Roll
Chicago

other than a socialst model of economy?

good luck.