By this time next year, Ben Bernanke could be tanned, rested and working on his memoirs. As the final six months of his second term as Chairman of the Federal Reserve wind down, it is widely believed that he will not sign on for a third term.
"I think he's looking at himself and saying, 'Do I want to earn pennies a year at the Federal Reserve, or do I want to earn $20 million a year on Wall Street?'" says economist, writer, commentator Ben Stein, in the attached video. "At some point the $20 million is going to start beckoning him and I think he's going to take it."
While conventional wisdom concurs that Bernanke will bow out, there is anything but consensus when it comes to the matter of whether or not the former Princeton professor is finishing, or cleaning up, the mess he has left behind.
For Stein, who has been married to the same woman for 45 years, there is a lot of good things for which Bernanke will be remembered, including his efforts to "prop up the banks, the money supply and the economy."
But he says there's also one problem that Bernanke will forever have on his resume, a blunder so large that Stein calls is "the worst mistake in post-war economic policy."Read More »from Bernanke Deserves Praise Despite Making Biggest Mistake in Post-War Era: Ben Stein