Wednesday, October 7, 2009

In Which Two Representatives Waste Their Energy Trying to Bring Sunlight to the Fed

Courtesy of Zero Hedge, a blasting of Bernanke from Congress.

IMHO Dr. Bernanke is the worst Fed Chairman since Mr. Miller under President Carter, and Miller had the excuse that he was a political appointee with no banking or economist credentials (per Wikipedia: Miller was the first and currently only Federal Reserve Chairman to come from a corporate background, rather than from economics or finance).

The letter is in PDF form and thus cannot be excerpted via cut and paste here.

Of course, the Bernanke reappointment is set in stone, but this bipartisan shredding of Bernanke supports the view expressed more than once here at EBR that at best he was guilty of malpractice, and at worst---well, let's not go there on the record. In other words, the letter is a "good read" even if for now it will have no practical effect.

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