Time Makes Odd Choice Of Ben Bernanke As ‘Person Of The Year’

December 16, 2009

U.S. (ChattahBox) – While his involvement may have been a part of the country not collapsing into a depression, many are already raising eyebrows at the announcement that Ben Bernanke will be named Time Magazines ‘Person of the Year’.

Former President George W. Bush chose Bernanke to succeed Alan Greenspan, in January 2006.  The former Princeton professor misjudged the fallout from the subprime crisis In 2007, telling members of Congress that the burgeoning disaster in the nation’s housing markets seemed “likely to be contained.”  And Americans think by better than two-to-one margin, that Bernanke puts Wall Street ahead of Main Street, according to a new poll by the liberal advocacy group, Progressive Change Campaign Committee.

But that did apparently not factor into the decision that Time Magazine named of making giving him their coveted ‘Person of the Year’ award.

When asked about their decision, Richard Stengel, Time’s managing editor, said:

“We’ve rarely had such a perfect revision of the cliche that those who do not learn from history are doomed to repeat it. Bernanke didn’t just learn from history; he wrote it himself and was damned if he was going to repeat it.

“His creative leadership helped ensure that 2009 was a period of weak recovery rather than catastrophic depression, and he still wields unrivaled power over our money, our jobs, our savings and our national future.”

Well, I suppose congratulations to Mr. Bernanke. You have certainly gained enough attention to be one of the more interesting people of the year, though whether you are the best is to be debated by many confused Americans over the coming week.



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