FOR DAVID IGNATIUS, WASHINGTON POST

Dear Mr. Ignatius:

Thank you for reporting your interview with Bernanke, the brave steward of the Fed. We all thought that Alan Greenspan, once a disciple of Ayn Rand and her principles of Logical Positivism, was the best. Now it looks like Bernanke has been up to the job. His view of history and the psychology of investors and investment are outstanding. His ability to adapt to rapidly changing conditions and challenges is outstanding. His logic and morality seem to be unquestioned.

I vote a resounding "Yes!" to Bernanke’s having another term at the post of Fed Chair. I think Obama would be ill advised to replace him, unless of course, Bernanke requests some peace and quiet for a year or two. Should he desire to be in the midst of the action, then he should be given the chance to show his stuff, again. If he burns out or makes a serious misjudgment, which seems unlikely, then it would be time to replace him. Perhaps Summers or even Greenspan, or both, could be hired to work with him and support his analyses and decisions. A shared responsibility might be stronger than just one man at the helm. A little more openness in the decision-making processes might also be re-assuring for the rest of us.

Thank you in advance for listening and allowing me to post my comments right below yours at www.washingtonpost.com. Congratulations on an excellent interview and an insightful report.

Sincerely,

Izzy Sommers, MD, retired, Welland, Canada

canadizzy wrote:
Dear Mr. Ignatius:

Thank you for reporting your interview with Bernanke, the brave steward of the Fed. We all thought that Alan Greenspan, once a disciple of Ayn Rand and her principles of Logical Positivism, was the best. Now it looks like Bernanke has been up to the job. His view of history and the psychology of investors and investment are outstanding. His ability to adapt to rapidly changing conditions and challenges is outstanding. His logic and morality seem to be unquestioned.

I vote a resounding "Yes!" to Bernanke’s having another term at the post of Fed Chair. I think Obama would be ill advised to replace him, unless of course, Bernanke requests some peace and quiet for a year or two. Should he desire to be in the midst of the action, then he should be given the chance to show his stuff, again. If he burns out or makes a serious misjudgment, which seems unlikely, then it would be time to replace him. Perhaps Summers or even Greenspan, or both, could be hired to work with him and support his analyses and decisions. A shared responsibility might be stronger than just one man at the helm. A little more openness in the decision-making processes might also be re-assuring for the rest of us.

Thank you in advance for listening and allowing me to post my comments right below yours at www.washingtonpost.com. Congratulations on an excellent interview and an insightful report.

Sincerely,

Izzy Sommers, MD, retired, Welland, Canada
5/28/2009 4:03:51 PM
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Quiet Tiger at the Fed
Will the president stick with Ben Bernanke, quiet hero of the financial crisis?
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By David Ignatius