Meet Ben Bernanke: Depression Scholar, Superhero | Newsweek Business

The Failure Caucus
Daniel Gross 9/2/2009 12:00:00 AM
Most Americans have a lot riding on the success of the government's efforts to pull the U.S. economy out of its ditch: individual investors, bankers, Federal Reserve Chairman Ben Bernanke, Democratic politicians, and taxpayers. A somewhat smaller group has a lot riding on the failure of these efforts. I'm not simply talking about investors who are betting against the markets and who believe the recent stock-market rally is overdone. I'm talking about the Failure Caucus, a group spanning the political spectrum that has invested reputations, egos, and, in some instances, their political futures on the notion that we're in for several more years of economic trauma.
Lecturing Bernanke
Michael Hirsh 8/28/2009 12:00:00 AM
Economist Stanley Fischer was Ben Bernanke's thesis advisor at MIT; he knew better than most that his former student had the right stuff to avert a depression. Bernanke was an "expert" at injecting liquidity into a sinking economy, Fischer said last year before the markets took their frightening plunge. Fischer had no doubt that Ben would do what it took (Ben did, earning himself a second term as Fed chairman this week). But serious questions remain in the minds of Fischer and other critics whether the most serious problem of the financial crisis—the too-big-to-fail issue—is proving too big for Bernanke and Washington's power elites to handle.
Why Bernanke’s Power Will Be ‘Curtailed’
Nancy Cook 8/26/2009 12:00:00 AM
President Obama cited this expertise—along with Bernanke's calm temperament and creativity—as the primary reasons for his reappointment. The Senate banking committee still has to confirm Bernanke, but he's accepted to pass that test with ease. NEWSWEEK's Nancy Cook recently spoke with Rep. Barney Frank, chairman of the House Financial Services Committee and recent YouTube sensation, about Bernanke's tenure, his missteps with AIG, and whether the Fed will amass even more power in the years ahead. Excerpts:
Bernanke Victimized by Identity Fraud Ring
Michael Isikoff 8/25/2009 12:00:00 AM
If ever there were living proof that identity theft can strike the mighty and powerful as well as hapless consumers, look no further than the nation's chief banker: Ben Bernanke. The Federal Reserve Board chairman was one of hundreds of victims of an elaborate identity-fraud ring, headed by a convicted scam artist known as "Big Head," that stole more than $2.1 million from unsuspecting consumers and at least 10 financial institutions around the country, according to recently filed court records reviewed by NEWSWEEK.
The Man Who Saved the World
Robert J. Samuelson 8/25/2009 12:00:00 AM
Imagine the fallout if Obama had instead selected one of the rumored successors, White House economic counselor Lawrence Summers. The next-day stories would have been predictably critical. Was Obama trying to compromise the Fed's "independence"? Given Summers's reputation for abrasiveness, could he craft a consensus in the key 12-member Federal Open Market Committee? How would the economy respond, considering the strong support for Bernanke among economists, business executives, and bankers?
In The Fed We Trust
Daniel Gross 8/11/2009 12:00:00 AM
A podcast of their conversation can be heard here. Listeners can also subscribe to Dan's "Every Day I Read the Book" podcast on iTunes.