Thursday, June 18, 2009

Credit (crunch) where credit is due

I just wish the ode to Ben Bernanke appearing in this (bi)week's New York Magazine hadn't been penned by Jim Cramer, he of the Daily Show shame. But otherwise I'd have to agree with the assessment of Bernanke's adroit stewardship. From an economist's perspective, what is really striking is the de facto complete reversal in central banking from opacity to transparency over the past decade or two.