Monday, January 25, 2010

Seeing The World Through Bankers' Eyes

That's Bernanke, according to Krugman. Please read. Here's a tiny excerpt:

What happened here? My sense is that Mr. Bernanke, like so many people who work closely with the financial sector, has ended up seeing the world through bankers’ eyes. The same can be said about Timothy Geithner, the Treasury secretary, and Larry Summers, the Obama administration’s top economist. But they’re not up before the Senate, while Mr. Bernanke is.

Still, Krugman advocates Bernanke's reappointment on this basis: anyone else could be worse, and anyone worse could be disastrous for us all. OK. My understanding was that things were already disastrous for us all...


  1. Bernanke failed as a regulator, and is failing in the Fed mission on employment.

    With larger groups of unemployed in Florida every month, how exactly do things get worse?

    We are on the hook for trillions and credit-worthy people and businesses still can't get loans.

    Things are still getting worse for people, so when do they get a bail out?

    OT: thanks for feeling the line was worth quoting.

  2. Bryan, that's just it: among the people I know who are unemployed or unable to get loans, none are unemployable under normal circumstances, and every one of them is creditworthy under normal circumstances. What do we have to do with Bernanke, Geithner, Summers, etc., stand next to them and shout in their ears, WE HAVE A PROBLEM OUT HERE?

    OT, your quote is precisely what the DP needs to understand, and regrettably doesn't. As dear Molly used to say, "How hard can it be?"

    OOT, Stella came home with a broken patella from a fall, knocked off a sidewalk by a well-intended soul, another pedestrian, who was in just too damned big a hurry. If blogging is sparse for a couple of days, it's probably because I'm only one of two cripples in the house at the moment.



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