Ben Bernanke Stepping Out of the Lime Light

Today’s article about Ben Bernanke in the Wall St Journal touches upon some often under the radar aspects of American Society. I am describing the “iconization” of those who play central roles, especially in politics. Ben Bernanke has stole much of the limelight for the Federal Reserve Bank. As Chairman of the Fed, he holds a lot of power, but as the public start judging him on aspects they very seldom fully understand they bring a risk of “politicizing” much of the economy.

I would draw the comparison to the evolution of the presidency. Some of the greatest presidents in the history of this country would not have been in the position if we scrutinized them as we do today. For example: Abraham Lincoln was an awkward, tall, unattractive man. However, he was one of the greatest presidents in our history navigating the country through one of its most shameful times. FDR is another great example. Here is a cripple that helped propel the United States economy out of the Great Depression, but he was a cripple. Much of the country was unaware of this fact, and had he ran in a wheel chair today, I highly doubt that he would win.

Compare these examples to today’s presidents; Barrack Obama, George W. Bush, Bill Clinton. All of whom speak very well. I will always support the argument that Bush is an idiot, but the way that he speaks identifies with much of the United States population. Completely ignoring whether the presidents today are actually right for the job or not, do we want this to happen to arguably the most powerful man in the USA (Chairman of the FED.)

It would be irresponsible to let the media’s invasion of Ben Bernanke’s personal life affect whether he will be back as chairman of the FED. We can no longer let outside factors influence who we have doing the job, whether he is married, divorced, an alcoholic, or an avid reader, if Ben Bernanke is the best man for the job, then I want him controlling the flow of money. We need to take a page out of the European handbook on this one and not allow personal differences affect business.

I hope that Bernanke is successful in downplaying himself as a representation of the entire FED. Further, I hope the media doesn’t pin the entire financial recovery on the back of Bernanke and Obama; there are far more people responsible and it needs to be recognized.

Signing off,

Matthew James