Please Hold Your Bernanke Applause

By William Cohan, Bloomberg - February 11, 2014

The plutocrats are heralding Ben S. Bernanke’s eight years as Federal Reserve chairman. And with good reason.


After all, Bernanke’s two signature achievements -- bailing out the bankrupt financial system and serving as the architect of the cheap-money policy known as quantitative easing -- have done the very things the wealthy hoped they would. They re-established the status quo on Wall Street after the 2008 financial crisis, and reignited the Dow Jones Industrial Average, which is more than 140 percent higher than its March 2009 nadir of 6,500.

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