Bernanke named Time’s Person of the Year

[davelj]

[quote=afx114]This comes up from time to time whenever a controversial person is put on the cover. It is not an “award” but rather a proclamation of the single person who most influenced, effected, and/or shaped the year. Hitler certainly fit the bill when he “won” it. Do Bernanke and his policies not fit that description?
[/quote]

When I first saw the headline I was disgusted, but I’m hopeful that your explanation is correct. That Bernanke played an important role in putting himself in the position of having to bail himself and the financial system out (and the final results of the latter are as-yet-unknown) is worthy of ridicule, not celebration. As a contrary indicator, this does concern me a little bit…

[Anonymous]

This “award” has about as much relevance as the Nobel Peace prize, or none.

[Anonymous]

This “award” has about as much relevance as the Nobel Peace prize, or none.

[Anonymous]

This “award” has about as much relevance as the Nobel Peace prize, or none.

[Anonymous]

This “award” has about as much relevance as the Nobel Peace prize, or none.

[Anonymous]

This “award” has about as much relevance as the Nobel Peace prize, or none.

[bubble_contagion]

According to the Time’s interview Bernanke had an ARM that he just refinanced to a 30 year fixed because the ARM “exploded”. No wonder why he lowered the interest rate to almost zero and made the Federal Reserve buy MBS. He personally benefited from these actions by being able to refinance at a very low rate. Besides he probably bought too much house. Another reason he is trying to keep RE prices as high as possible.

From CR:

http://www.calculatedriskblog.com/2009/12/bernankes-arm-explodes-refinances-into.html

[bubble_contagion]

According to the Time’s interview Bernanke had an ARM that he just refinanced to a 30 year fixed because the ARM “exploded”. No wonder why he lowered the interest rate to almost zero and made the Federal Reserve buy MBS. He personally benefited from these actions by being able to refinance at a very low rate. Besides he probably bought too much house. Another reason he is trying to keep RE prices as high as possible.

From CR:

http://www.calculatedriskblog.com/2009/12/bernankes-arm-explodes-refinances-into.html

[bubble_contagion]

According to the Time’s interview Bernanke had an ARM that he just refinanced to a 30 year fixed because the ARM “exploded”. No wonder why he lowered the interest rate to almost zero and made the Federal Reserve buy MBS. He personally benefited from these actions by being able to refinance at a very low rate. Besides he probably bought too much house. Another reason he is trying to keep RE prices as high as possible.

From CR:

http://www.calculatedriskblog.com/2009/12/bernankes-arm-explodes-refinances-into.html

[bubble_contagion]

According to the Time’s interview Bernanke had an ARM that he just refinanced to a 30 year fixed because the ARM “exploded”. No wonder why he lowered the interest rate to almost zero and made the Federal Reserve buy MBS. He personally benefited from these actions by being able to refinance at a very low rate. Besides he probably bought too much house. Another reason he is trying to keep RE prices as high as possible.

From CR:

http://www.calculatedriskblog.com/2009/12/bernankes-arm-explodes-refinances-into.html

[bubble_contagion]

According to the Time’s interview Bernanke had an ARM that he just refinanced to a 30 year fixed because the ARM “exploded”. No wonder why he lowered the interest rate to almost zero and made the Federal Reserve buy MBS. He personally benefited from these actions by being able to refinance at a very low rate. Besides he probably bought too much house. Another reason he is trying to keep RE prices as high as possible.

From CR:

http://www.calculatedriskblog.com/2009/12/bernankes-arm-explodes-refinances-into.html

[Rich Toscano]

[quote=afx114]This comes up from time to time whenever a controversial person is put on the cover. It is not an “award” but rather a proclamation of the single person who most influenced, effected, and/or shaped the year. Hitler certainly fit the bill when he “won” it. Do Bernanke and his policies not fit that description?[/quote]

Good point… but to the extent that their article praises his awesome depression-preventing powers (which I’ll bet it did, though I have no interest in actually reading it), then my point about confidence in central bankers remains…

rich

[Rich Toscano]

[quote=afx114]This comes up from time to time whenever a controversial person is put on the cover. It is not an “award” but rather a proclamation of the single person who most influenced, effected, and/or shaped the year. Hitler certainly fit the bill when he “won” it. Do Bernanke and his policies not fit that description?[/quote]

Good point… but to the extent that their article praises his awesome depression-preventing powers (which I’ll bet it did, though I have no interest in actually reading it), then my point about confidence in central bankers remains…

rich

[Rich Toscano]

[quote=afx114]This comes up from time to time whenever a controversial person is put on the cover. It is not an “award” but rather a proclamation of the single person who most influenced, effected, and/or shaped the year. Hitler certainly fit the bill when he “won” it. Do Bernanke and his policies not fit that description?[/quote]

Good point… but to the extent that their article praises his awesome depression-preventing powers (which I’ll bet it did, though I have no interest in actually reading it), then my point about confidence in central bankers remains…

rich

[Rich Toscano]

[quote=afx114]This comes up from time to time whenever a controversial person is put on the cover. It is not an “award” but rather a proclamation of the single person who most influenced, effected, and/or shaped the year. Hitler certainly fit the bill when he “won” it. Do Bernanke and his policies not fit that description?[/quote]

Good point… but to the extent that their article praises his awesome depression-preventing powers (which I’ll bet it did, though I have no interest in actually reading it), then my point about confidence in central bankers remains…

rich

[Author]

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