Federal Reserve Chairman Ben Bernanke should be reappointed for a second term because of his success in battling the worst economic downturn since the Great Depression, Nouriel Roubini said.
“I support the reappointment of Bernanke,” Roubini told Bloomberg Radio ahead of the World Economic Forum in Davos, Switzerland. “He made lots of mistakes before, during the crisis. But all in all, the final response of the Fed was the right one.”
No surprise here. Bottom line, with Roubini being one of the most connected economists in the world, he is not going to potentially cut off access to the guy who may continue to be chairman of the most powerful central bank in the world.
Just saw the latest "Frontline" report on the verminous credit card companies. Elizabeth Warren peddled a "Consumer Protection Agency." Geithner made a rare appearance. Members of the Senate Finance Committee including Chris Dodd confessed to receiving millions from the banking industry. No mention of the Fed's credit expansion was made.
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