A Shortcoming in Bernanke's Job?

A shortcoming in Bernanke's job is highly doubtful. Bernanke was appointed by George W. Bush in 2005, and he was expected to change the invariable economy. Although many critics believe that the Fed's easy money policy will further impair the economy in the future, I see Bernanke as almost a profound superman; however, he could have utilized more regulation on banks. Bernanke saved the United States from what could happened. If Bernanke did not bail out the banks, the whole current banking system would have failed.

Bernanke is up for re-nomination for his second term of U.S. Federal Reserve chairman. Politicans seek a scapegoat who they can blame the current economic situation, and Bernanke's nomination vote couldn't come at a worse time. Politicians blame that the Fed's expansionary monetary policy will only cause acute inflation in the years to come. Obama supports Bernanke fully and says, "He [Bernanke] has my strongest support." However, there is a lurking indecision in Capital Hill towards Bernanke. Senators including John McCain plan to vote against Bernanke's nomination.

Most public ire comes from the huge bailouts by the Fed such companies include Well Fargo, Bank of America, and Citi Bank. The White House press secretary, Robert Gibbs, says, "There’s still a great amount of anxiety in our economy, but Chairman Bernanke helped the president and the economic team steer through some very turbulent times and rough waters." Senator Diane Feinstein of California and Joseph Lieberman plan to vote for Bernanke.

Well, if I was a senator, I'd plan to re-nominate Ben Bernanke as Fed Chairman for four more years. Since I am not a senator, I will continue to follow up on Bernanke's story.