So Ben Bernanke is up for reappointment, and he is being grilled by the usual bunch on Capitol Hill right now.
Look, do I love everything Ben Bernanke has ever done? No of course not. But how many people are really qualified to judge him?
Bernard Sanders, the senator from Vermont, claims to be an independent and wants Bernanke to step down. Let’s see, Mr. Sanders must be a retired banker or businessman right?
Wrong. He is a self-proclaimed socialist who has spent his life in government supposedly helping fellow Americans.
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Ok, Bernie, so what are your qualifications to judge Ben? Since Sanders has been in Congress the past 20 years, the national debt has increased by over $7 trillion. While it may not be fair to blame Sanders alone, it’s clear he does not understand capitalism and probably does not want to.
Let’s find out what a real capitalist thinks. How about one who has made more than $150 billion investing — Warren Buffett.
Buffett, when asked about Bernanke, says this: “I don't see how you could do better. He has taken decisive action at a time when really decisive action was needed, and extraordinary action, things that we hadn't done before.
“I give the Bush administration credit on this, (former Treasury Secretary) Hank Paulson. They don't do everything perfectly. Nobody does. And we were getting balls thrown at your head by the hour. You're going to make some mistakes.
“But they got us through a period that, if we had different people in those jobs, I'm not so sure we would have gotten through.”
Now, no offense but who do you think is more qualified to assess what Bernanke has done? Buffett or Sanders the socialist?
On certain subjects I’m sure Sanders may know more than Buffett. But a self-avowed socialist knowing more about capitalism then the greatest capitalist of all time? Unlikely.
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