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March 28, 2006
a very powerful man: fed chairman ben bernanke
The Federal Reserve is not part of the Federal Government, and it is one of the most secret organizations in the United States. It would be very difficult to find a more powerful group of people in this country or the world. I am not if it is as devious as some believe, but economically speaking it's best to have the banks run free of political pressure. Ben Bernanke is replacing Alan Greenspan as Fed Chairman. Greenspan's greatest moment of Fed speak was his "irrational exuberance" speech during the dot com boom of the late 90s.
According to Bernake's background he'll be less likely to comment on political matters such as "tax cuts." Greenspan caught the ire of the Left when he supported Bush's tax cuts. One concern I have with Bernake is that he only scored a 1590 on his SAT test. Those extra 10 points could come back to haunt us.
Posted by nemov at March 28, 2006 9:53 AM
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