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'''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. The economy seemed to be booming, but it was in the last stages of a housing "bubble"--and the bubble burst in 2007-8.

 

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.