Rick Stengel on the "Time" magazine Person of the Year

with Richard Stengel
in Current Affairs
on Wednesday, December 16, 2009 * * * * *

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Rick Stengel on the "Time" magazine Person of the Year, Ben Bernanke

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Keywords:
Obama
Time
ben bernanke
economy

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    1. REMant  01/12/2010 04:53 PM Report

      By printing money all he has done is to make everyone in this country and many others worldwide pay for the mistakes of a few, and by so doing he has no doubt prolonged the process of adjustment and with it recovery. And, as was said, the person-of-the-year is chosen for his impact on the news, not for his merits, and certainly not for his long-term merits. For example, Wallace Simpson was chosen in 1936; Adolf Hitler in 1938; Joseph Stalin in 1939; Charles de Gaulle in 1958; William Westmoreland in 1965; Richard Nixon in 1971 and 1972; Ayatollah Khomeini in 1979; The Endangered Earth in 1988; Newt Gingrich in 1995; Vladimir Putin in 2007. But it is entirely fitting that Time should pick Bernanke, since he has done as much as anyone to push that magazine into bankruptcy, and I doubt one week's sales will help the situation much.