Business

Bernanke Should Not be Confirmed!
by Barbora Misakova

The name Ben Bernanke is known in America for many reasons. First of all this American economist was a chairman of President Bush’s Council of Economic Advisers and in 2006 he was appointed as a member of the Federal Reserve of Governors. To a four-year term he was appointed also as its Chairman. During his first term the Federal Reserve experienced its largest increase of power since 1913 when it was created. Now when Ben Bernanke won confirmation for a second term, he has to face sharp attacks and criticism. These sharp attacks point at his role before the 2008 financial meltdown and its aftermath. While his supporters say Bernanke pulled the American economy back f! rom the brink of a collapse, others charged that he had crafted disastrous economic policies and missed the signs of coming crisis. One of the biggest Bernanke’s critics, independent Senator Bernie Sanders, argues that Senate shouldn’t give a second chance to a man who failed and led one of the strongest world’s economies to the crisis. Bernanke was accused as a key author of a hugely unpopular Wall Street bailout and a supporter of excessive government intervention in the US economy. In spite of these attacks, the US Senate voted 70-30 to approve Bernanke as a Fed’s chairman. While vultures are sharpening their nebs, Obama is satisfied because: “while the worst of the storm has passed, its devastation remains and we have a lot of work to do to rebuild our economy.” Whereas some take this situation serious, some of Bernanke’s foes are making jokes and poke fun at Time magazine’s decision to anoint him its 2009 “Person of! the Year”.

related story (sgx16284): http://www.france24.com/en/20100129-bernanke-federal-reserve...

by Barbora Misakova for SigEx Ventures (http://sigexventures.com)

SigEx Ventures's matrix of properties are quickly becoming leaders in digital telebroadcasting, free content delivery allowing people to easily talk, view, upload and share through free online TV broadcasting, free unlimited global calls, video blogs and SMS. SigEx Ventures invests in projects deploying "free" to add-on royalty revenue models

posted by Blog TechSource @ 3:21 PM