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→Political Orientation: update
==Political Orientation==
==Political Orientation==
Bernanke was appointed to the Federal Reserve Board, and elevated to Chairman, by a [[Republican]] President, [[George W. Bush]]. However, the [[Wall Street Journal]] reported that Dr. Bernanke has endorsed the proposed economic policies of [[Democrat]] [[Barack Obama]].<ref>http://online.wsj.com/article/SB122455027730552509.html</ref>
Bernanke is a Republican and was appointed to the Federal Reserve Board, and elevated to Chairman, by Republican President, [[George W. Bush]]. Bernanke played a major role, along with Treasury Secretary [[Henry Paulson]] in forging a vast, extremely expensive response to the [[Financial Crisis of 2008]]. The Fed and Treasury commitments exceeded $1 trillion in direct aid and over $6 trillion in loan guarantees as the economy spiraled downward. Bernanke, an expert on the Great Depression of 1929, was intervening aggressively to prevent a repeat of that disaster, but as of December 2008 the economy continued to fall rapidly. He refused to allow Fed funds to be used to rescue the automobile industry.
In October Bernanke endorsed an eventual stimulus program that gave support to the the proposed spending plans of [[Barack Obama]].<ref>http://online.wsj.com/article/SB122455027730552509.html</ref> Bernanke's term extends to early 2010.
==References==
==References==