The Time Version “Ben Bernanke Person of the Year 2009″
Posted by dian eko | Filed under economic update
Coronation of U.S. Federal Reserve Chairman Ben Bernanke as the Person of the Year 2009 Time magazine, on Wednesday (16/12/2009) local time, the positive points to boost his political position in the hold of a lot of criticism and proposals that could limit the authority of the Federal Reserve. With Ben Bernanke chosen as Person of the Year, he entered the ranks of this caliber U.S. President Barack Obama, Pope John Paul II, and Russian President Vladimir Putin who had been selected by Time magazine. Bernanke is going to run out his term as Fed chairman on January 31, 2009 was re-nominated to lead the U.S. central bank for a second term time.
The Senate is considering the appointment of Bernanke repeated for the second round, and most likely he will indeed re-elected. But on the other hand, the public attacks and criticisms from Congress to the Central Bank has not been this high for decades. Central Bank increasingly criticized after much bailout funds for Wall Street. However, in the midst of financial crisis, Bernanke is low-profile and calm appeared as a savior. “Ben is one that prevents us (Americans) fell from the edge of a cliff and fell into darkness,” said Lyle Gramley, a former Central Bank governor who is now senior economic adviser at Soleil Securities. He hopes, Bernanke political position aided by the election of him as Person of the Year 2009. “Bernanke … understand that the economic situation would have been much more severe if the Central Bank did not take extreme measures to stop the panic,” he added. According to Time, in an article about Bernanke, one of which referred to the extremes is the decline in interest rates to near zero, years ago. With creative leadership, Bernanke was set a path American economic recovery, and at the same time develop the influence of the Central Bank. However, opposition parties also did not want to ignore that the unemployment rate this year, during the period of Bernanke’s job, has reached 10 percent. Therefore, Congress now is considering proposals that could restrict the freedom of the Central Bank, the supervision authority at the big banks, and also so that audits can be applied to any decision on interest rates.
Gramley argues that, when compared to the severe recession when Paul Volcker served as Governor of the Central Bank, the level of public resentment against the Central Bank is now higher. “(Because) the public first, although upset, understand that the rate hike is due to the inflation problem worse. However, now the public does not understand why the Central Bank would have to cover Bear Stearns or AIG.”
January 5, 2010 at 7:12 pm
yes..i like
January 31, 2010 at 3:35 pm
I more often than not don?t post in Blogs. However, your blog forced me to! Impressive job.. Keep it coming! Thanks!
February 5, 2010 at 5:25 am
6rC6pF zaxziyvzjzid, [url=http://bgmbvcwuxazi.com/]bgmbvcwuxazi[/url], [link=http://jruxwedskinr.com/]jruxwedskinr[/link], http://cmkhetejcrje.com/
February 5, 2010 at 8:14 am
I just wanted to leave a fast comment to thank you for your blog! I really enjoyed your blog site!!! I have a Political Satire
February 10, 2010 at 3:59 am
There are several very good points made here.
On the whole, I am not very keen on politics. however, every now and then all of us have to take notice. Food for thought, thank you.
March 5, 2010 at 5:30 am
“The commission’s job will be to help bring down the federal budget deficit to 3% of gross domestic product by 2015, compared with nearly 10% today, and to propose ways to hold down the surging costs of government programs such as Medicare, Medicaid and Social Security.” The stated goal of getting the deficit down to 3% of GDP. The quote from the article implies that Obama and crew just does not get it because they are spending greater than the revenue every year. Also, it implies that the problem is the elderly from defining their problem statement. It does not explain that the Democrats take every opportunity to increase the people covered by those programs and then attempt to feed generational controversy setting the youth against their own parents.
March 14, 2010 at 5:23 pm
Interesting article. Were did you got all the information from…
March 27, 2010 at 11:33 pm
Fantastic article, keep up the good work.
March 29, 2010 at 4:37 pm
Saturday, I was searching for blogs related to things that have been on my mind lately and I found your blog.
April 7, 2010 at 8:04 pm
Hello, I’d just like to say, what a informative blog! i’m just doing a bit of research for my blog but i had a problem reading this article due to the text sticking out on to the menu…. NVM! sorry, the problems my end, it is my old version of internet explorer causing the bug. May be worthwhile telling people to update. Many thanks. Fatboy
April 12, 2010 at 8:39 pm
thanks !! very helpful post!
April 28, 2010 at 11:56 pm
Your blog is so informative … keep up the good work!!!!