Times magazine has nominated Bernanke as the Man of the Year.
The citation reads that it is he who has averted the tumble-down of the economy by introducing stimulus package along with Henry Paulson.
This comes in time, when his reappointment as Chairman of Federal Reserve. , is being put up in the Senate Banking committee.
The committee flogged him for his dormancy when the banks hit the hilt with bad loans.
Today , he has been addressed as Man of the year.
Contradictory is it not?
Bernanke himself accepts that there is truth in both views.
The Fed slipped while overseeing the safety and soundness of banks.He quips without the massive bail outs the nation would have diffused in a murky economic crisis. He and Paulson have worked on these plans to pull out the country from dire consequences.
Bernanke deserves this plaudits.
To err is human , but to correct oneself after acknowledging the error is greatness.
Bernanke has done just that.
His success lies on his rationality.
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