I am neither an economist nor do I claim to understand how the US Fed works (may be just a little, in passing). But I think Obama should let Ben Bernanke, the Fed Chairman, go. Isn't it under his stewardship that we had recession building and taking millions of 'lives' everywhere? Didn't he pledge allegiance to the failed economic policies, and was probably the brain behind drafting many?
When the economy tanked, and when the only way is up - however insignificant the change is, he did take some bold decisions to effect that change. Or was that a much delayed response in the first place? We will never know anyway.
No problem can be solved from the same level of consciousness that created it. -- Einstein
If BB was a part of the problem in the first place, doesn't it make sense to bring in a fresh pair of eyes and brain into this hot seat? ... who can bring in fresh thinking, better policy and the much needed change? BB's list of accomplishments could fill a realm of paper, printed 2-sided at that, but keeping the same dull heads who either didn't see this coming or didn't act on it earlier should be enough reason to change him, I think.
What's more...it could also help BB go make a 'decent living' for all his 'economic prowess'. Apparently he only makes $200k p.a. without any bonuses or pay raises, albeit the fact that the toxic assets he made the Govt. buy last year are bringing in huge returns. A Wall Street executive could have easily raked in a couple of billion for this kind of effort.
Let the people change. And so, let the rules of the game change...for better! It takes courageous leaders to take bold decisions. Haven't seen that yet in Prez BO.
Swasti!!
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