By Howard Rich
No public official has been more integrally involved in the federal
government’s “Great Intervention” than U.S. Federal Reserve Chairman Ben
Over the course of three years (and two administrations), Bernanke
has aggressively and successfully lobbied for trillions of dollars in
government bailouts, deficit spending, loan guarantees and “quantitative
easing.” From his perch at the secretive Fed, Bernanke has also kept
interest rates artificially low by investing heavily in treasuries —
although these low borrowing costs have chiefly benefited the
government, not the American people.
This summer, however — as the failure of government “stimulation”
became apparent — Bernanke’s language began to undergo a subtle shift.
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