Bloomberg – Ben Bernanke’s renomination as Federal Reserve chairman gives him a guaranteed job for four years, precisely the kind of long-term, risk-free tenure that regulators are trying to outlaw elsewhere in finance.
President Barack Obama was always going to leave Bernanke in the saddle, even if he does lack the all-important “Alumnus of Goldman Sachs Group Inc.” qualification that seems to be a prerequisite for anyone wanting to run anything in the United States of Keynesian Experimentation. Working out what bonus, if any, Bernanke might merit for his eight years steering the world’s biggest economy, though, is a tricky task.
