Speculation that Ben Bernanke might be appointed for a second term as
Federal Reserve chairman after his first term expires in January 2010
has to remind one of Washington's
Alice in Wonderland-like
quality. For if Bernanke were indeed to be reappointed as Fed chairman,
it would mean that in the depths of by far the worst U.S. economic
recession in the postwar period, one would be reappointing to the job
the very person whose fingerprints, along with those of former Fed
chief Alan Greenspan, are all over that recession. It would also
validate the skeptical worldview of a former boss of mine who believes
that, in Washington, nothing succeeds so well as failure.
This article available online at:
http://www.theatlantic.com/business/archive/2009/07/does-bernanke-really-deserve-a-second-term/20512/