Ben Bernanke is a very intelligent man but unfortunately he’s scared of Wall Street. After getting pushed around by the markets the last few months I would like to officially nominate Ben Stein for the New Federal Reserve Chairman. Here are 5 Reasons Why
5. He has no problem telling Alan Greenspan to shut the fu*k up. Ben is known for calling like he sees it and he and I both think Greenspan needs to move on and keep his opinions to himself (even though they are friends)
4. He’s smarter than anyone in Washington. Bush would have lost more money than he put into the war if it was “Win George Bush’s Money” .
3. The guy is an economic genius. He’s written several books on personal finance but no doubt in my mind he knows macro economics as well. This alone won’t do the trick as Bernanke has a resume as strong as anyone could have in economics, and it’s gotten him nowhere. The difference is Stein is not just book smart he understands personal “real life” economics as well.
2. He’s a Wall Street Guy. He knows Wall Street and how it works. He won’t be afraid to disappoint. I think he realizes that the FR leads the markets not the other way around.
1. Read this article from 2005. He was all over the housing situation as the Fed let it get away from them. It certainly shows he doesn’t believe reaction will get it done but rather focus on heart of the problem.