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The Case Of Ben Bernanke

By John Dermody, Travis Hodgkins, and Nema Milaninia

Last week, most news applauded Obama?s reappointment of Ben Bernanke as the chairman of the Federal Reserve. Of the few commentators who opposed the reappointment, Morgan Stanley Asia's Stephen Roach lists three critical mistakes that Bernanke made leading toward the financial crisis. He argues that Bernanke should not be reappointed because his ?pre-crisis actions played an equally critical role in setting the stage for the most wrenching recession since the 1930s.? First, and foremost, he was deeply wedded to the philosophical conviction that central banks should be agnostic when it comes to asset bubbles. On this count, he stood with...

Full post as published by Transnational Law Blog on August 31, 2009 (boomark / email).