I think most of us would agree that people who have, say, little formal schooling but labor honestly and diligently to help feed, clothe, and educate their families are deserving of greater respect – and help, if necessary – than many people who are superficially more successful. They’re more fun to have a beer with, too. That’s all that I know about sociology.
– Ben Bernanke
President Obama has made it clear that next January, when his term is up, Chairman Bernanke is going to be replaced. It’s not like the big guy is being fired, though. “Ben Bernanke’s done an outstanding job,” Obama said in an interview with Charlie Rose. “He’s already stayed a lot longer than he wanted or he was supposed to.” What else would he want to do than to be arguably the most powerful man in the world? Simple. The title “Professor Bernanke” always suited him much better than “Chairman Bernanke”.
That’s just about the only thing that his admirers and critics can agree about him – although the former might laugh it out while the latter would say it though clenched teeth.