Changes

'''Ben Bernanke''' (bur-NANG'-kee) (b. 1953) is an American economist who is the current Chairman of the [[Federal Reserve]], nominated by President [[George W. Bush]] to succeed [[Alan Greenspan]]. He took control in Feb. 2006. At first, Bernanke was widely perceived as having less power over [[Wall Street]] than Greenspan even after Greenspan's retirement, but Bernanke is starting to come into his own and to have more influence. <ref>[http://www.venturacountystar.com/news/2007/jul/05/bernanke-starts-to-shed-greenspans-shadow Ventura County Star: Bernanke starts to shed Greenspan's shadow]</ref>

'''Ben Bernanke''' (bur-NANG'-kee) (b. 1953) is an American economist who is the current Chairman of the [[Federal Reserve]], nominated by President [[George W. Bush]] to succeed [[Alan Greenspan]]. He took control in Feb. 2006. At first, Bernanke was widely perceived as having less power over [[Wall Street]] than Greenspan even after Greenspan's retirement, but Bernanke is starting to come into his own and to have more influence. <ref>[http://www.venturacountystar.com/news/2007/jul/05/bernanke-starts-to-shed-greenspans-shadow Ventura County Star: Bernanke starts to shed Greenspan's shadow]</ref>

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 stock prices returned to 2003 levels.  Bernanke, an expert on the Great Depression of 1929, was intervening aggressively to prevent a repeat of that disaster.

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 stock prices returned to 2003 levels.  Bernanke, an expert on the Great Depression of 1929, was intervening aggressively to prevent a repeat of that disaster.

In August 2009, economists--most of them conservatives--on the ''Wall Street Journal'' panel  are nearly unanimous that Bernanke should be reappointed to another term as chairman. The majority of these economists said the [[Recession of 2008]] is now over. Battling the downturn defined most of Mr. Bernanke's term, which began in early 2006 and expires in January 2010, and economists say his handling of the crisis has earned him four more years as Fed chief.<ref> See [http://online.wsj.com/article/SB124993702311020493.html?mod=djemalertNEWS Phil Izzo, "Economists Call for Bernanke to Stay, Say Recession Is Over," ''Wall Street Journal'' Aug. 11, 2009]</ref>

In August 2009, economists--most of them conservatives--on the ''Wall Street Journal'' panel  are nearly unanimous that Bernanke should be reappointed to another term as chairman. The majority of these economists said the [[Recession of 2008]] is now over. Battling the downturn defined most of Mr. Bernanke's term, which began in early 2006 and expires in January 2010, and economists say his handling of the crisis has earned him four more years as Fed chief.  A slow initial response to the credit squeeze and the decision to let Lehman Brothers fail were cited as the biggest errors.<ref> See [http://online.wsj.com/article/SB124993702311020493.html?mod=djemalertNEWS Phil Izzo, "Economists Call for Bernanke to Stay, Say Recession Is Over," ''Wall Street Journal'' Aug. 11, 2009]</ref>

==Criticisms==

==Career==

As of February 2009 the declining stock market showed the financial community lacked confidence in the economy. America's major banks were in worse shape than when he started pouring in trillions of dollars to rescue them.   

Bernanke is a Republican and was appointed to the Federal Reserve Board, and elevated to Chairman, by  Republican President, [[George W. Bush]]; he was confirmed by the Senate in 2006.   

==External links==

==External links==

==See also==

==See also==

* [[Financial Crisis of 2008]]

* [[Financial Crisis of 2008]]

==References==

==References==

[[Category:Economists]]

[[Category:Economists]]