The Senate Banking Committe has backed Ben S. Bernanke as a candidate for a second four year term as chairman of the Federal Reserve. Bernanke has been known for encouraging risk taking and is blamed and considered responsible for the disastrous state of the economy and current economic downturn. He has taken responsibility for some of the job loss and depleting savings accounts, but credit also has to be given where credit is due.
Christopher J. Dodd believes that if he had not acted in the way he did last Fall, the country would be facing an "utter economic catastrophe...". However, Bernanke has also been targeted for not being able to find the balance between doing too much and too little.
The split in opinion is demonstrated by the voting of Mr. Ben Bernanke as the Person of the Year by Time Magazine. They believe he is key in our economic recovery. One Senator made a very profound statement: "...it would be like rewarding the captain of the Titanic for piloting the ship into an iceberg, not for getting everyone off safely."
You can only put so much blame on one person; whether Ben Bernanke is a genius or single handedly running this country's economy into the ground, it is all a matter of opinion.
http://www.nytimes.com/2009/12/18/business/economy/18fed.html?_r=1&ref=politics
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