Economics

Jesus Christ's Savior Role Spurs Questions of Overreach

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In a front-pager with the promising headline of "Fed's Crisis Role Spurs Questions of Overreach," the Washington Post casually tosses off this paragraph-two axiom:

In the past few months, Fed Chairman Ben S. Bernanke has burst through long-standing boundaries on what the Fed does. Bernanke's actions ? many taken reluctantly ? have repeatedly pulled the world from the brink of financial catastrophe[.]

Really? Bernanke has saved not just the United States but the world from multiple financial catastrophes? I wonder which ones in particular, and how a newspaper goes about confirming such a thing as incontrovertible fact?

When Bernanke took the reins at the Fed, Senior Editor Brian Doherty assembled a team of worthies to ask: Can we bank on the Federal Reserve?

NEXT: Rough Ridin' on Economic Policy

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  1. Jesus Christ’s Savior Role Spurs Questions of Overreach

    Hah hah. You joke, but this is a fairly postmodern flippant way of expressing precisely what the Jewish theological problem with Jesus really was.

    Other than that, this is sort of a “press fellates power holders” dog-bites-man story.

  2. In the past few months, Fed Chairman Ben S. Bernanke has burst through long-standing boundaries on what the Fed does. Bernanke’s actions ? many taken reluctantly ? have repeatedly pulled the world from the brink of financial catastrophe[.]

    I’ve got to start paying more attention to the news. What’s Superman been up to?

  3. I thought Bernanke was Lex Luthor, not Superman.

  4. I think the one time Superman is thought to have saved us was in the giant Societe Generale clusterfuck, where the inter-meeting rate cut forestalled what looked like imminent catastrophe of epic proportions (futures markets down over 400; if you ever watch futures, you know this is fucking unheard of)

    Looming disaster actually turned out to just be this guy.

  5. Really? Bernanke has saved not just the United States but the world from multiple financial catastrophes? I wonder which ones in particular, and how a newspaper goes about confirming such a thing as incontrovertible fact?

    C’mon, Matt, get with the program; we are, by definition, the world’s saviours. Haven’t you heard about American Exceptionalism? Now, open the door and put some coffee on, and I’ll explain it to you. You’ve got a couple of hours to spare for your salvation, don’t you?

  6. This is why I love this blog. Blog titles like these.

    Yeah, journalists these days really are a sloppy, muddle-headed bunch.

    I’ve never met a journalist (or a politician, apart from Ron Paul) who knew anything about anything.

    Smart people become economics professors at Chicago university, not politicians or journalists.

  7. Bernanke’s actions … have repeatedly pulled the world from the brink of financial catastrophe.

    That’s like saying this years rain storms have saved us from catastrophic flooding.

  8. Jesus saves at the basket, throws a Hail Mary shot to win the game at the buzzer the sound of St. Peter’s Horn

  9. You watch 24 ? Well, the character of Jack Bauer was based on Ben Bernanke. Notice how they’re both famous for dropping things out of helicopters.

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