The ex-chairman of the Federal Reserve is the newest fellow at the Brookings Institution, one of the most influential “progressive” think tanks promoting world government (or “global governance,” the euphemism the internationalists prefer to use today).
“Today we at the Brookings Institution and its new Hutchins Center on Fiscal and Monetary Policy are excited to welcome Ben S. Bernanke as a distinguished Fellow in Residence,” announced David Wessel, director of the Hutchins Center, in his February 3 Brookings blog.
“Mr. Bernanke, of course, has just finished eight tumultuous years as chairman of the Federal Reserve,” Wessel continued. “He was sworn in as Fed chairman in early 2006 unaware that fissures were opening in the foundations of the U.S. economy and financial system.”
Wessel then goes on to laud Bernanke as the “rescuer-in-chief,” the indispensible man who saved the global economy. Says Wessel:
Two years later, he was rescuer-in-chief during the worst financial crisis in 75 years. His mantra: Whatever it takes. As Glenn Hutchins, vice chair of the Brookings board, put it at the recent Hutchins Center inaugural event: “Despite the massive deleveraging of the last few years, we are still deeply in debt to Ben Bernanke.”
In the past few years, Mr. Bernanke has been presiding over an historic experiment in monetary policy — more than five years of zero interest rates (so far) and trillions of dollars in bond-buying, a controversial approach aimed at restoring growth to the American economy.
The bouquet from Wessel is hardly surprising; he and Bernanke have been longtime chums, and Wessel authored the hagiographic 2009 book, In Fed We Trust: Ben Bernanke’s War on the Great Panic, which, the reader might guess from the title, places Bernanke up there on the deity pedestal.
Its understandable that Wall Street tycoon Glenn Hutchins would be so effusive and “deeply in debt” to Bernanke over the “massive deleveraging.” Hutchins’ Silver Lake Partners investment firm, which specializes in leveraged buyouts, profited handsomely from Bernanke’s policies at the Fed, which have left all the rest of us, literally, deeply in debt. Hutchins, by the way, is a member of the board of directors of the New York Federal Reserve Bank. That is a pertinent fact that would seem to be newsworthy, but none of the MSM news stories we’ve seen on Bernanke’s new job have bothered to mention it. Nor do they mention that Brookings vice chair Hutchins is a member of the Council on Foreign Relations (CFR, the institutional Big Sister to Brookings) or that his Silver Lake Partners is a Corporate Premium Member of the CFR.
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