It had a familiar ring that I had witnessed before: specific opposite views and a campaign posture.
Bernanke's role in the FED might change in the near future. He was between complete collapse and continuing on the same broken road. It was too risky to be innovative at the edge of the cliff. Many say otherwise: that he was bold and innovative.
It was a tough position. He is not government. The FED was created to contain the dam from breaking when there is a run on the money supply or a freeze on the lending houses. Back in the storm, it looked like he was standing alone holding the puzzle together while the waves kept coming.
He was unsuccessful at one thing that seems small but that might have derailed progress. He was unsuccessful at fighting back on politicians requesting him to fix the economy while they were incapable to sign a budget.
Outside of the FED, there hasn't been any accountability for the economy on either side. While the FED kept been requested to fix it, Congress has been playing Nerf wars. I never thought the encrypted messages of a Greenspan would be so on point as on today's state of affairs.
If the books about the collapse were inflammatory, I am hoping the new titles after his departure will return to serious analysis. There are two things Bernanke's reign leaves behind: a successful legacy to discuss and THE human face of the FED itself.
