In honor of Ben's last FOMC meeting, let's appreciate Bernank the Tank

Bernanke's last meeting as chairman was this past Wednesday , so I think MT needs to give this man the love he deserves. I was talking to a former Fed affiliate yesterday that dropped a quote about about Bernanke that I wholeheartedly agree with.

Incrementalism is the riskiest strategy in times of crisis.

When people are nervous, they try to make small moves to not make it worse. Ben came handled the times of crisis with big moves and he essentially saved the financial system and country from collapse. Did he do everything right? No, but I believe he got all the big things right. The only critique I have of any of his policies was that he tried to tee up and show the fricktards in Congress that he could land his giant, unprecedented easing program on a dime in May/June of this past year and probably got a little ahead of himself. Outside of that, I can't think of a single individual in the public eye that I have a higher regard for.

So if anybody wants to come in this thread to talk about how he's an evil central banker that has destroyed the dollar. First, please kill yourself. Second, learn finance. Third, look at the data because your "facts" are false. Fourth, please revert back to step #1. If you choose not to, please go here where you'll be more welcomed.

My favorite Bernanke quote of all time was on June 22, 2011 during his press conference:

Mr. Chairman, I am Akihiro Okada with Yomiuri Shimbun, a
Japanese newspaper. During the Japanese lost decade in the 1990s, you strongly criticized
Japan’s lack of policies. Recently Larry Summers suggested in his column that the U.S. is in the
middle of its own lost decade. Based on those points with QE2 ending, what do you think of
Japan’s experience and the reality facing the U.S.? Are there any historical lessons that we
should be reminded about? Thank you.

CHAIRMAN BERNANKE. Well, I’m a little bit more sympathetic to central bankers
now than I was 10 years ago.


BOSS